We, the leaders of the key business organizations of the G8 countries have gathered on 25 April 2007 in Berlin to discuss urgent issues concerning the global economy. These matters, and our deliberations on them, are to be taken up for consideration by the Heads of State at the G8 Summit in Heiligendamm.
We are pleased to note that this year's G8 summit which has "Growth and Responsibility" as its theme attempts to respond to the central challenges facing the global economy. The G8 countries still account for 63% of global GDP, 60% of global direct investment, and 50% of global trade. However, newly emerging countries arc playing a more important role in the global economy, which creates both opportunities and challenges for global governance.
We emphasize that business makes substantial contributions to finding solutions to these challenges. Our member companies are deeply engaged in the global economy. They are the primary agents of economic activity, trade, investment, and technological innovation. They drive growth and prosperity, create the jobs, provide the economic basis for the social infrastructure and often have the innovative capacity to help address the problems facing humanity. The business community is well aware of its responsibility to work with governments to meet these challenges and realize these opportunities.
We believe that there is a political responsibility to examine whether existing policies are still appropriate and to establish new policy guidelines where reasonable. In this context, the leaders of the G8 nations are confronted with a two-fold challenge. On the one hand, they must increasingly keep a close eye on the conditions for sustaining the international competitiveness of companies in times of growing competition. On the other hand, they must recognize that effective responses increasingly require international cooperation. In particular, this means intensifying the dialogue with newly industrializing countries. Shaping globalization is a task not only for the G8 countries.
Therefore, we call on the leaders of the G8 countries to ensure the adoption, promotion and implementation of the right set of initiatives and responses during their summit in Heiligendamm. We call on G8 governments to address mounting challenges to the trading system, the international investment regime. the efficiency of capital markets, the structure and rules for enforcement of intellectual property protection, and global environmental conditions, while keeping all energy options open. G8 governments must establish and maintain appropriate policies in these key areas so that international business can play its pan to promote sustainable economic growth and create the wealth essential for economic development.
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