Cooperation under the B20 to Overcome the Consequences of the Coronavirus Crisis
The last few years have been a challenge for international cooperation, which has had limited effectiveness in solving the key tasks of national and international development. On the one hand, the coronavirus crisis has exacerbated existing structural and short-term problems, widening the gap between richer and poorer members of the international community. On the other hand, however, the present crisis provides an opportunity not only to ‘reset’ the global economy but also to modernize its structure in the name of more equitable and sustainable growth and development, removing a significant number of redundant constraints. In view of this, establishing effective international cooperation through leading multilateral platforms such as the G20 and the working groups operating under its aegis is becoming an increasingly important factor in development. The Business 20 (B20) is a social partner of the G20, representing the interests of business and working via consensus to develop concrete proposals for G20 leaders aimed at shaping global policy to overcome the key challenges of our time. The B20 Regional Consultation Forum is held jointly by the chair of the B20 for 2021, the General Confederation of Italian Industry (Confindustria) and the Russian Union of Industrialists and Entrepreneurs (RSPP). Heads of major companies and business associations, senior officials of G20 member countries and heads of international organizations will discuss draft B20 recommendations for G20 leaders in areas such as trade and investment, energy and resources, education and the labour market. What effective steps should be taken to overcome the current challenges and contradictions in the global economy? What should form the basis for cooperation between governments and business in bridging existing gaps and ensuring sustainable development? How can the effectiveness of tactical decision-making and the adaptability of the economic growth model be maintained while observing a balance of interests? The results of the discussion will be considered when finalizing the B20 recommendations, which will be agreed in time for the B20 summit and presented to the G20 summit in autumn 2021.
