AFP, Sydney :
Business leaders from the G20 major economies called Wednesday for the freer movement of trade, capital and jobs to boost growth, but avoided addressing the controversial global issues of profit-shifting and climate change.
More than 380 international business chiefs are set to attend the B20 summit in Sydney on Thursday and Friday before presenting their proposed growth strategies to the G20 presidency, which is chaired by Australia this year.
“When you see all the B20 recommendations later in the week, there’s a couple of common themes. One is the free flow of trade, one is the free flow of capital and one is the free flow of employment,” said Steve Sargent, chair of the B20’s human capital taskforce.
The strategies are meant to help the G20 meet its pledge made during a meeting of finance ministers in February to pursue additional economic growth of 2.0 percent over the next five years.
“I am very confident that the recommendations that we’ve got — if implemented by G20 countries-will lead to economic growth,” said B20 Australia chair Richard Goyder.
Goyder said the heads of some of the world’s biggest companies would focus on a shorter list of recommendations than had been presented in past years to increase the odds they would be adopted.
“What’s different between this year and last year is that last year, there were 128 recommendations I think from the Russia process, which arguably is too many to prioritise,” said Goyder, the chief executive of Australian conglomerate Wesfarmers.
“We’ll have a lot less, and the handful of recommendations that we’ve got are capable of being actioned and capable of delivering what we’re seeking-which is stronger economic activity.”
