News September 30 : The B20 met G20 Sherpas, a decisive step before the B20 Summit in November
On September 30th, the President of MEDEF, Laurence Parisot, presented an executive summary of the B20 recommendations to the G20 Sherpas. Mandated by the French President, Nicolas Sarkozy, the MEDEF has decided to join forces with existing taskforces of the World Economic Forum and the International Chamber of Commerce. In total, the B20 gathers a panel of around 200 Chairs and CEOs from large corporations and SMEs, as well as representatives from G20 business organizations, who have been heavily involved in building an integrated set of proposals.
Eight major topics has been tackled during this meeting : Financial regulation; Employment & Social dimension; Economic policies, in order to stimulate job creation; Fighting corruption; Commodities, raw materials and energy; International Monetary System; Trade and Investment; and Food security. On the topic “Anti-corruption” in particular, the Business community commits to accelerate private initiatives and to ask G20 governments to act - individually and collectively – in this field. Concerning the “Financial regulation”, it seems crucial to make sure that new regulations don’t create a major problem for financing the SMEs.
G20 Sherpas answered to several questions. One of the Sherpa for example wanted to emphasize the relevance of restoring the confidence required to stabilize the economic situation and revamp growth. Another one considered that the B20 should not focus only on developed economies’ unemployment, in order not to oppose jobs in developed economies vs jobs in emerging economies.
This major meeting between the B20 and the G20 Sherpas constitutes a decisive step before the final Summit in Cannes, on November 2nd and 3rd.

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