Communique: Global Business Coalition Presidency handover

• Federation of German Industries (BDI) passes the baton to Unión Industrial Argentina (UIA)
• GBC calls on the G20 and G7 to rebuild trust in globalization
• GBC requests governments to advance the rules of the multilateral trading system and shape the digital transformation

February 12, 2019 - The GBC is deeply concerned about the future of global cooperation. Trust in globalization is eroding. G20 and G7 lack consensus on concrete reform of the multilateral trading system, international trade and the digital transformation. Miguel Alberto Acevedo, President of Unión Industrial Argentina (UIA), assumed the GBC Presidency on February 12 for a two-year term. As GBC President, he will call on the G20 to strengthen multilateral cooperation, develop a positive agenda on digital transformation and make the organization fit for 21st century trade patterns. The GBC is committed to supporting governments in developing an inclusive reform agenda in order to contribute to sustainable growth and rebuild trust in globalization within the society. 'The GBC represents an instrumental platform to rely on by representing the voice of enterprise within the G20 process and other major international fora. It enables synergies and cooperation among major business organizations that commit to the free market economy, fair trade and investment, and the imminent importance of the rule of law,' states GBC President Miguel Acevedo. The GBC brings together sixteen leading independent business associations from the major world economies. 'The GBC enables synergies and cooperation among major business organizations that commit to the free market economy, fair trade and investment, and the imminent importance of the rule of law.'

'The Global Business Coalition has become a champion of global governance. We have successfully engaged with the B20 and B7, partnered with international organizations and extended our membership to become truly global,' summarized Dieter Kempf, President of the Federation of German Industries (BDI), who held the GBC Presidendy for more than two years. 'We have become a key player in advocating for free and rules-based trade and will continue to advocate for the future of the multilateral trading system. The GBC calls on the G20 to address unfair competition, trade-distortive subsidies, forced technology transfer and cyber-enabled theft. We demand a level playing field in which state-owned enterprises (SOEs) do not have privileged access to non-commercial assistance. And we call for necessary reforms to improve and strengthen the WTO dispute settlement and to unblock the nomination of Appellate Body members,' said Dieter Kempf, the outgoing President of the GBC.

On invitation of the Confederation of Indian Industry (CII), the principals of the GBC came together for their Annual Plenary meeting on February 11/12 in New Delhi. The GBC met with representatives of the Government of India and Leaders of Indian and international industries to discuss trade and investment, resource efficiency and digitalization.

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