Chambers take anti-protectionist stand

June 23, 2010 at 11:38 AM
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BRUSSELS, June 23 (UPI) -- The president of EUROCHAMBRES urged leaders of the Group of 20 Nations to take a stand against protectionist policies that crimp international trade.

In a statement, President Alessandro Barberis said this year was the fourth consecutive one in which the G20 chambers of commerce reached a consensus on common goals to address the world's financial crisis.

EUROCHAMBRES called for structural reforms to enable "private sector-led growth." It also said the business group was opposed to a financial transaction tax or bank levy. Such a tax "is not the appropriate regulatory tool for addressing the essential systemic issues of capital and liquidity."

In addition, the business group said governments "must refrain from raising barriers or imposing new barriers to both outward and inbound investment."

With an agreement that includes business chambers from Argentina, Australia, Brazil, Canada, the European Union, France, Germany, Japan, Mexico, Russia and the United States, protectionist measures put in place during the recession should be removed, the group said.

The statement was issued in advance of a G20 summit that begins Saturday in Toronto.

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