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Global businesses seek successful completion of Doha round

Star Business Report
The leaders of the global business community urged the governments, especially those of the biggest trading nations, to bridge their longstanding differences for a successful deal in the Doha round of world trade negotiations.
The global business community made this plea at the World Business Summit held in Sweden recently. The community also stressed the importance of multilateral trading system issuing a statement on June 13.
International Chamber of Commerce (ICC), the global business organisation, arranged the first ever ICC World Business Summit in Stockholm, Sweden, said a statement issued by ICC-B yesterday.
President of ICC Bangladesh Mahbubur Rahman led a fivemember delegation at the summit.
The other members of the delegation were ICC Bangladesh Vice Presidents Latifur Rahman and Samson H. Chowdhury and ICC-B Executive Board Members A. S. M. Quasem and Syed Manzur Elahi. They also attended the ICC's World Council in Stockholm on June 11.
Hosted by Marcus Wallenberg, Chairman of ICC, the ICC World Business Summit brought together more than 350 top businessmen from 70 countries to discuss the fate of the Doha trade negotiations with trade experts, including Pascal Lamy, director-general of the World Trade Organization (WTO), Peter Sutherland, chairman of BP and Goldman Sachs International, and Ewa Bjorling, trade minister of Sweden.
Pascal Lamy urged the business leaders to remain optimistic, while expressing his hope for a successful completion of Doha Round very soon, imploring them to speak directly to their governments about its importance.
The ICC-B statement also said the businessmen attending the summit agreed to redouble their efforts to convince their government leaders to act swiftly and effectively to reach a final trade agreement.
There was a strong consensus at the summit that the negotiations must be brought to a successful conclusion after six and a half years of delays and missed deadlines. A deal can still be done, the ICC-B statement said.
The two-day summit, which ended on June 13, issued a strong message to governments that if they allow the Doha Round to collapse, the costs will be high and the risks-far-reaching.
“The WTO rules-based system, which has delivered immeasurable benefits to the world over six decades, will be badly weakened in case of a failure in this regard. The already potent forces of protectionism will claim a famous victory,” the ICC-B press statement said.