ICC United Kingdom analysis shows that UK ranks just 7th in G20 business participation – reflecting urgent need for increased engagement
Press release: London, Thursday, 01 June 2017
ICC United Kingdom analysis shows that UK ranks just 7th in G20 business participation – reflecting urgent need for increased engagement.
UK business will need to engage on a different scale at G20 if the UK wants to shape the world trade agenda and business environment post Brexit.
- UK ranks 7th in business participation at B20 Germany - with less than half the numbers of business representatives contributing than Germany, the USA and China.
- No companies from the English regions, Wales or Northern Ireland are contributing to shaping world trade and economic policy.
- A range of strategic UK sectors including automotive, aerospace, construction or IT/technology are unrepresented at B20 Germany.
The International Chamber of Commerce (ICC) United Kingdom has analysed data provided by B20 Germany, revealing that the UK ranks seventh out of all G20 countries in participation at B20 – behind Germany, China, USA, India, France, and Turkey. B20 provides the platform for business to engage with G20 governments in shaping global trade and economic policy. The ranking highlights the need for UK business to scale up engagement at the international level in preparation for the UK leaving the EU.
The analysis also reveals that businesses are under-represented in the English regions, Wales and Northern Ireland, as well as from strategic sectors such as automotive, aerospace, construction and IT/technology. Only two companies have been engaged in B20 Germany from outside London (one based in Scotland and the other in the Channel Islands).
“UK business need to scale up efforts and play a bigger role in shaping the global trading environment if the UK is to be successful post Brexit. There is a real opportunity to galvanise the voice of business in the regions and showcase UK expertise from outside London,” says Chris Southworth, Secretary General, ICC United Kingdom. “As the UK prepares to leave the EU, we must work together to help strengthen participation from companies across the UK, with a focus on the midlands, the north, as well as strategic growth sectors.”
The analysis shows that financial services dominates half of the UK representation of business sectors participating in B20 taskforces, with the remaining 50% made up of commodities, pharmaceuticals, beverages, and hospitality.
- 2 in 5 of the G20 knowledge partners are UK firms.
- 1 in 7 B20 Task Force Co-chairs represent a UK company.
- 61% of businesses involved were multinational companies, compared to 39% small to medium-sized enterprises (SMEs).
Press & Communications | ICC United Kingdom
Tel: +44 (0)20 7655 1711
About ICC United Kingdom
ICC United Kingdom is the UK office of ICC – the largest world business organisation representing 6.5 million companies in 134 countries. ICC promotes free trade, provides the rules and standards that govern international business and helps companies and States settle international disputes. ICC works with national business groups to provide a voice for business at inter-governmental level and is the only world business organisation with UN Observer Status.
Leave a comment
Comments will be approved before showing up.
Also in Press releases
Private sector action to reverse the loss of biodiversity is “absolutely fundamental” to the UK’s post-pandemic economic recovery, a new cross-business forum will warn today.
bp plc, Barratt Developments plc, Skanska, and Balfour Beatty are among the founding companies of the UK Business & Biodiversity Forum (UKBBF), which has been set up ahead of the United Nations’ COP26 climate change conference in Glasgow this November and the UN COP15 Biodiversity conference in Kunming, China in May.
SENIOR DIPLOMAT AND TOP CAMERON ADVISER AMONG APPOINTMENTS TO INTERNATIONAL CHAMBER OF COMMERCE (ICC) BOARD
SWIFT’s KYC Registry will become the first global utility to integrate the International Chamber of Commerce’s (ICC) Sustainable Trade Finance Guidelines, making it easier for financial institutions to identify environmental, social and governance (ESG) risks in their supply chains.
By integrating the ICC’s Sustainable Trade Finance Guidelines into the KYC Registry, which has more than 6,000 users...