ICC Document & publication

Business and the global economy

The International Chamber of Commerce (ICC), the world business organization, is pleased to submit this statement to the Heads of State and Government attending the G8 Summit at Hokkaido Toyako, Japan 7-9 July 2008). The statement focuses on four issues of crucial importance to world business at the current time.

1. Doha trade negotiations

Yet again before a G8 Summit, world business as represented by ICC has to express its deep concern at the continued failure of governments to bring the Doha Round of multilateral trade negotiations to a successful conclusion.

2. Safeguarding freedom of investment

Another form of protectionism has begun to stalk the global economy with a renewed vigour, namely, investment protectionism where governments introduce or threaten measures to block or impede the flow of cross-border investment in the name of protecting so-called strategic sectors of economic activity or of maintaining national security.

3. Intellectual property and innovation

ICC welcomes the fact that product counterfeiting and copyright piracy have become a regular topic on the agenda of the annual G8 Summit meetings since the protection of intellectual property (IP) is a vital element in encouraging research and innovation, international trade and investment, and sound economic growth and development.

4. Climate change

Environmental concerns are rightly at the top of the international policy agenda today and ICC is pleased to note the priority that the Hokkaido Toyako Summit is attaching to the challenge of climate change.