Taskforces
Trade and Investment

Trade and Investment

Victor Fung

Victor K. Fung

Chairman, Li & Fung Limited, Hong Kong

Biografia

Martin Senn

Group Chief Executive Officer, Zurich Financial Services, Switzerland

Members:

Saleh Abdullah Kamel
Fahad Al-Sultan
James Bacchus
Perrin Beatty
Kimball C. Chen
Luis de la Calle Pardo
Luz María de la Mora
Kirill Dmitriev
Klaus Engel
Eduardo Eurnekian
Pierre Froidevaux
Armando Garza Sada
Sheikh Khalifa Al- Thani
Pascal Lamy
Andrew N. Liveris
Harold McGraw
Lubna S. Olayan
Yu Ping, Vice-Chairman
Andrés Rozental
Raed Safadi

Objectives

Bolster a multilateral exchange system.
Encourage actions promoting investment –local and foreign- as drivers of economical development.





B20 TASK FORCE RECOMMENDATIONS, CONCRETE ACTIONS FOR LOS CABOS

B20 TASK FORCE PRIORITIZED RECOMMENDATIONS

The B20 Task Force on Trade and Investment has made six recommendations to G20 leaders, which taken together constitute a focused and integrated “action agenda for Los Cabos” on trade and investment.
At the request of the B20 Task Force on Advocacy and Impact, the Task Force on Trade and Investment suggests that immediate implementation of three of these recommendations would significantly boost global efforts to spur jobs and growth. The three priority recommendations are as follows:

I. The G20 should push for rapid progress on specific, prioritized items on the World Trade Organization (WTO) negotiating agenda, in order to promote the long-term interests of both developing and developed economies.

these items include:

· Concluding the negotiations on a multilateral agreement on trade facilitation
· Encouraging the implementation of trade-enhancing measures for the least developed countries, for example, the phasing out of cotton subsidies
· Eliminating agricultural export subsidies
· Expanding the Information Technology Agreement
· Finalizing agreement on the transparency mechvanism for preferential trade arrangements
· Completing the Dispute Settlement Understanding review negotiations

Potential barrier

Disagreement among G20 members, or attaching conditions to the implementation of some items.

Commitments needed

· In addition to expressing support for prioritizing the items above within the wto, the G20 should encourage other wto members to also support such an approach. · Such a decision could be implemented immediately by wto members if they agree.

Commitments made by the task force

The B20 Task Force on Trade and Investment is committed to discussing the benefits of such a decision with G20 leaders at Los Cabos.

II. The G20 should lead by example in rejecting measures that restrict trade and investment and in promoting measures that enhance them.

Potential barrier

Disagreement among G20 members on the need to strengthen the G20’s capacity to consider the impact of trade and investment measures.

Commitments needed

· G20 leaders should give G20 trade ministers a mandate to conduct regular peer reviews of trade and investment measures and their impacts. Reports compiled by the wto, the United Nations Conference on Trade and Development, and oecd can provide a factual basis for such reviews. This peer-review process should lead to the effective rollback of measures that restrict trade investment and to the establishment of common principles for open and fair competition.

Commitments made by the task force

· The B20 Task Force on Trade and Investment stands fully behind the G20’s earlier commitments to reject protectionism and is ready to work with the G20 on establishing and contributing to the peerreview process.

III. The G20 should reiterate its support for open, cross-border investment as an essential contributor to growth, development, and job creation and take concrete steps to advance an international investment agenda.

Concrete action

The G20 should create a working group on investment to identify issues, impact, and key action areas and should report back to the next G20 Summit in Russia in 2013.

Potential barrier

Disagreement among G20 members to move this agenda forward

Commitments needed

· The G20 should encourage a broad dialogue on international investment issues.

Commitments made by the task force

· The B20 Task Force on Trade and Investment welcomes a discussion on investment with G20 leaders, ministers, and sherpas as well as the opportunity to contribute to the implementation of a forwardlooking G20 agenda on this issue.

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