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RSPP held the B20 Regional Consultation Forum on the sidelines of the St. Petersburg International Economic Forum (SPIEF) on June 18, 2015. Turkey B20 presidency in 2015 launched a practice of holding the regional forums to increase a level of awareness on the B20 and G20 process in the non-G20 member countries and considering these countries business leaders` positions in the B20 work. The B20 forum in St. Petersburg concluded a series of consultation events to discuss the B20 recommendations. On the next stage the finalized B20 recommendations will be presented to the G20 leaders.
The two sessions of the forum witnessed the keynote addresses of Governor of the Central Bank of the Russian Federation Elvira Nabiullina, Deputy Prime Minister of the Russian Federation Arkady Dvorkovich, President of Asia Society Policy Institute (ASPI) and Prime Minister of Australia in 2007–2010 and 2013 Kevin Michael Rudd, President of Chamber of Commerce and Industry of the Russian Federation Sergei Katyrin, G20 Sherpa of the Republic of Turkey Ayşe Sinirlioğlu, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), United Nations’ G20 Sherpa Shamshad Akhtar.
In his opening statement to the B20 forum RSPP President, Member of the B20 International Business Advisory Council (IBAC), B20 Chairman during the Russian presidency in 2013 Alexander Shokhin emphasized that “five years since its birth B20 is established as a unique institution, bringing together businesses from a wide range of countries, to craft consensus positions and engage with the G20 leaders on issues critical for business-led growth.” According to Alexander Shokhin, each B20 recommendation is developed to help the G20 member countries attain their shared goals of strong, sustainable, balanced and inclusive growth. In this regard the recommendations directly relate to the key economic policy areas of the G20 growth strategies: improving infrastructure through increased investment, reducing barriers to trade and investment, creating more employment opportunities and opportunities for SMEs and entrepreneurship, increasing competition and improving business environment. The B20 work is carried out on the principles of continuity and consistency. This guarantees a consistent reflection of the B20 priorities and moving forward in the dialogue with the G20 leaders. Alexander Shokhin also noted that an effective regulation which improves business climate lies at the heart of growth agenda. This means better regulation, not more regulation. Alexander Shokhin emphasized the business community hope that its concerns and inputs would be seriously considered and addressed in the G20 decisions.
Welcoming the participants of the forum, Elvira Nabiullina noted that a large number of topics which will be discussed at the G20 summit this year, were firstly included into the G20 agenda within the Russian presidency, most notably a topic of investment financing. One of the results of the G20 work within the Turkey presidency should be the investment strategies. Each G20 member country will elaborate such document by Antalya summit. Elvira Nabiullina emphasized that the financial markets in current conditions should undertake a task on investment financing, including in infrastructure in a format not only of debt financing but capital investment. According to Elvira Nabiullina, the Central Bank of the Russian Federation at the present time addressing the issue on how, on the one side, to provide the financial markets with more incentives for implementing such investments, and, on the other side, to guarantee a sufficient level of reliability of investors` interests protection.
In his statement Arkady Dvorkovich noted that the current global agenda underestimates the priorities and interests of small and medium-sized enterprises (SMEs), so the Turkey B20 presidency`s priority of integrating SMEs into the global markets is timely and important. Talking about the trade liberalization which is one of the B20 priorities since its establishment, Arkady Dvorkovich emphasized that Russia is an example for other countries on how to develop free trade agreements (FTAs).
Kevin Michael Rudd talked about the G20 historical agenda and current key priorities, including investment and infrastructure, energy security, SMEs financing, addressing social issues, in particular decreasing poverty rate which is a real challenge for a number of the G20 countries.
Member of the B20 Turkey Executive Committee, Vice-President of the Turkish Confederation of Employer Associations (TİSK) Erol Kiresepi focused on the priorities, working process elements and achievements of the Turkish B20 presidency.
Sergei Katyrin, who chairs the Russian parts of the BRICS Business Council and SCO Business Council, made a comment on the differences between the SCO, BRICS and G20 agendas. From his point of view, the agendas of three institutions have a large number of intersections because their member countries face common challenges. The main difference is the level of the dialogue and intensity of particular issues’ representation in their agendas.
The discussion of the first session of the forum focused on international trade, employment, SMEs and entrepreneurship issues. The participants agreed that further work is needed to simplify the customs procedures, fight trade protectionism, create more jobs for young people and women, align labour markets and education systems, develop professional education as well as to support SMEs which could create additional workplaces very important in the context of high unemployment.
Ayşe Sinirlioğlu, opening the second session of the forum, presented the Turkey G20 presidency priorities and working process. She noted that in addition to the traditional issues the G20 has given a great attention to reducing income inequality by establishing the special thematic sub-group under the Employment Working Group. Through its Development Working Group (DWG) the G20 intends to make a positive contribution to the Post-2015 development agenda, given this year is crucial for its establishment. As Ayşe Sinirlioğlu pointed out, a coherence of actions by the G20 member countries is needed to address the existing gaps in the development agenda.
Shamshad Akhtar also spoke about the G20 and UN activities concerning the global development agenda.
The second session of the forum was devoted to the Turkey B20 presidency priorities of financing growth and anti-corruption. The detailed discussion on infrastructure and investment also continued. Special attention was given by the participants to the SMEs interests regarding these priorities.
During the concluding part of the forum the leaders of the business associations of developing G20 member countries – China, India and Indonesia - presented the priorities and positions of business communities of these countries regarding the B20 recommendations. Vice Chairman of the China Council for the Promotion of International Trade (CCPIT) Yu Ping in his statement noted out that the positive achievements of Turkey B20 presidency will be used and developed within the Chinese B20 presidency in 2016. CCPIT intends to carry out the productive dialogue between the B20 and the G20 leaders as well as to provide an active intercommunication among the B20 members.
Summing up the forum`s results, Alexander Shokhin emphasized that the Turkey B20 presidency achievements include concrete recommendations to the G20 leaders as well as a practice of holding the regional consultations forums. Still the main objective for the B20 was and will be an incorporation of business recommendations into the G20 leaders` documents. Alexander Shokhin said that in future B20 priority should focus on monitoring the implementation of its recommendations by the G20 leaders as well as stimulating business community engagement in this process.