B20 calls for unity, cooperation to drive global economic recovery

Updated: November 15, 2022 Source: Xinhua News Agency
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This photo taken on Nov. 12, 2022, shows the logo for the 17th Group of 20 (G20) Summit outside Apurva Kempinski, the main venue for the summit in Bali, Indonesia. (Xinhua/Wang Yiliang)

Stronger international cooperation is called to drive stronger recovery and inclusive and sustainable growth at a summit of the Business 20 (B20), where business representatives of G20 are gathered to negotiate global economic governance.

BALI, Indonesia, Nov. 15 (Xinhua) -- World business leaders have called for stronger international cooperation to push for stronger recovery and inclusive and sustainable growth at a summit here of the Business 20 (B20), which represents the business' voice of the Group of 20 (G20).

At the closing ceremony on Monday of the two-day event, Indonesian President Joko Widodo urged the global business community to stay optimistic and work together for global recovery.

"I said that for every problem or challenge there is always a silver lining. So don't be pessimistic," Widodo said, noting the multiple crises facing the world today, including the still ongoing COVID-19 pandemic, geopolitical tensions, and food, energy and financial crises.

Chair of B20 Indonesia Shinta Widjaja Kamdani said this year's B20 summit brought together the global business community with the goal of delivering actionable policy recommendations to G20 leaders on economic policies, investment, trade, among other areas.

Arsjad Rasjid, chairman of the Indonesian Chamber of Commerce and Industry, which is the host of B20 Indonesia, said the B20 summit was organized in the hopes of bringing together global business and thought leaders to address pressing economic issues from a business perspective, and find consensus and common cause on priority causes, so as to move forward on a united front.

The B20 summit, a summit of business representatives from the member economies of the G20, serves as a significant platform for enterprises worldwide to participate in global economic governance.

The G20 leaders' summit is scheduled for Tuesday and Wednesday on Indonesia's resort island of Bali.

On the theme of "Recover Together, Recover Stronger," the G20 summit will focus on three priority issues, namely, global health architecture, sustainable energy transition and digital transformation.

Editor: Yu Huichen