G7 must show leadership committing to rules-based trade
Two months after business leaders of the seven most advanced economies – Canada, the European Union, France, Germany, Italy, Japan and the United States – met in Quebec, Canada, it is now the turn of the political leaders of the G7 to gather on 8-9 June in Charlevoix, Canada, for the 44th G7 Summit.
BusinessEurope President Emma Marcegaglia commented: “This meeting comes in difficult times when some are questioning the world trading system. We urge G7 leaders to reject unilateral actions and remain committed to rules-based trade. Multilateral rules and institutions are key in ensuring a stable and predictable environment for companies.”
Regarding the possible outcome of the G7 gathering, she added: “Many question existing rules and institutions claiming they are not fit to address overcapacity or certain market distortions. European business wants a level playing field, but this can only be achieved by improving the world trading system not by ditching it. We need common responses to global challenges including on trade. Therefore, we call on G7 leaders to commit to a positive agenda aimed at constructive change. The business community is prepared to engage in the debate and bring constructive proposals to the table.”