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B7-Italy: Global Trade, Innovation and Sustainability



The B7-Italy will focus its recommendations to the G7 Summit of Taormina on two major priorities of the global economic agenda: “Trade Governance” and “Innovation and Sustainability”. Trade governance is losing pace with globalization, protectionist trends are unprecedented in recent history and a feeling of insecurity is leading to the rise of populist movements fueled by the perception that globalization creates inequalities and unemployment.

G7 Business is committed to market access and liberalization in a framework of shared rules that are, instead, beneficial to business, economies and societies as a whole. Trade is in itself a solution, not a problem. If effectively governed, especially in coordination with other policies, it does not only favor the exchange of goods and services, but it also foster job creation, social justice, inclusion and sustainable development. We will call on the G7 to recognize the imperative of international commerce and to work with us to improve the conditions for economic growth worldwide.

To achieve such an objective, Innovation and Sustainability will be key drivers in shaping the future patterns of industrial development and in guiding the transition towards a digitalized, innovative, low-emissions and more circular economy. Business is concerned by the challenges the planet is confronted with, and it is fully committed to conciliating economic growth, job creation and environmental sustainability. The results achieved by manufacturing industry and power sector in critical fields such as the reduction of Co2 emissions, energy savings, or waste management witness the efforts made and the investments that are constantly carried out in research and innovation.

However, Business cannot be left alone. Access to financing schemes, in particular by Small and Medium Enterprises, must be enhanced and transnational partnerships have to be supported for business competitiveness objectives to match worldwide environmental sustainability targets. In this regard, for the first time ever, the B7 will concretely outreach the B20 sphere by holding an International Workshop on “Resource Efficiency” co-organized with the Global Business Coalition, the Association of the Business Organizations of the G20 Countries. The event will take place at Confindustria a few hours before the official beginning of the B7. Encompassed in the B20-Germany and the G7-Italy programs, this initiative will bridge over G7 and G20 thereby demonstrating how conscious is Business of its role and how deeply it is engaged in shaping a better world for future generations.

Vincenzo Boccia – President of Confindustria

Tags: B7   Rome   Confindustria   Vincenzo Boccia   Commerce   Business   Innovation   Resource Efficiency


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