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IBC members endorse restart of Doha Round discussions

27 Jan '07
2 min read

The members of the International Business Council who participated on the first day of the IBC Winter Meeting 2007 during the World Economic Forum Annual Meeting in Davos endorsed the following statement:

The International Business Council is a community of business leaders from around the world. We represent business, both public and private, in the developed and developing world. We are unanimous in our support for open markets and liberal economic policy.

We are united in our concern that failure to restart the Doha Round discussions immediately and conclude them within the next six months will seriously damage the global community. The lessons of history with regard to the destruction which flows from protectionism are clear and undeniable.

International trade is the engine of economic growth. It stimulates growth, spreads prosperity and creates opportunities for all the world's citizens to participate in the global economy. In the last 50 years the world community has had enormous benefits from continued economic growth from trade liberalization.

The current impasse with the Doha Round threatens to undermine growth and the spread of economic opportunities to all. Trade is the most effective means we can offer to the members of the global community struggling to lift themselves out of poverty.

We now call on political leaders in the developed world and in particular Europe, Japan and the USA, together with their counterpartsin major developing economies such as Brazil, China, India and South Africa, to come together to quickly resolve the few areas of continuing disagreement and to do so within weeks.

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