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G20 Business Summit Ends with Recommendations Made to World Leaders

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2010-11-11

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The G20 Seoul Business Summit has officially come to an end at the Sheraton Walkerhill Hotel on Thursday with a joint statement announced at a press conference after its conclusion.
Peter Brabeck-Letmathe‚ the chairman of Nestle‚ presented the statement on behalf of the 120 participating CEOs from around the world calling for greater cooperation between the private and public sector.
The report will be handed over to the world leaders at the G20 summit on Friday for further discussion.
[Interview : Peter Brabeck-Letmathe‚ Chairman
Nestle] "We hope that the G20 Leaders recognize the value of business input into the G20 process and‚ in doing so‚ seek to build on the Seoul Business Summit and its framework for engagement in 2011 and thereafter."
The official exchanges kicked off earlier in the day with President Lee Myung-bak delivering a speech that highlighted the importance of companies in revitalizing the economy after the financial crisis and in ensuring sustainable economic growth.
[Interview : President Lee Myung-bak] "This is because businesses are the most important actors in reinvigorating the economy. Through stimulus and other expenditures‚ governments have thus far played the leading role in bringing about the global economic recovery. However‚ these government efforts cannot be sustained‚ as concerns over fiscal weakness and inflation persist."
Eleven other heads of state‚ including leaders from Russia‚ Japan and Turkey‚ also attended the meeting to have face-to-face interaction with the private sector.
During the roundtable sessions the participants discussed four main agenda topics namely trade and foreign direct investment‚ finance‚ green growth and corporate social responsibility.
[Interview : Josef Ackermann‚ Chairman
Deutsche Bank] "To deal with the impact of financial crisis and and to make financial system more robust‚ more resilient is very important issue. This is the
[Reporter : Choi Won-young
won102@arirang.co.kr] "This is the first time that the G20 summit started with a meeting of the world's leading business executives. And if the Seoul event amounts to an overall success‚ then the Business Summit has high chances of becoming a regular pre-forum to the G20 Summit.
Choi Won-young‚ Arirang News."
Reporter : won102@arirang.co.kr

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