B20 publishes White Book of recommendations for G20 leaders

(Interfax – MOSCOW, July 16, 2013) The Business 20 (B20) on Tuesday unveiled its definitive White Book of recommendations for the Group of 20 (G20) leaders, of which Russia is president in 2013.

“The recommendations were discussed during the St Petersburg (economic) forum and submitted to (Russian President) Vladimir Putin, and some of them will be presented during the summit (of G20 heads of state and government) in September. We have discussed and will be discussing these recommendations among sherpas and trying to make maximum use of them in the framework of the official process,” Ksenia Yudayeva, head of the Russian Presidential Expert Directorate and the Russian G20 sherpa, told a press conference.

The recommendations include eliminating restrictions on the free movement of capital in order to stimulate cross-border investment and support economic growth, and stimulating private investment in infrastructure and the real sector.

They also call on G20 leaders to make financial regulation more flexible.

The Trade Facilitation Agreement should be finalized by the end of 2013. Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs (RUIE), said the recommendation was to arrive at a final result ay the WTO ministerial meeting in Doha.

As far as employment is concerned, the emphasis should be on creating a favorable business environment to create jobs.

Shokhin said the priority in the fight against corruption ought to be to make the state procurement system more transparent.

Shokhin handed the Russian president a Green Book of preliminary recommendations during the St Petersburg forum in June.