Ottawa, May 17, 2010

Archived - Minister of Finance Announces Meeting of Global Business Leaders in Advance of Toronto G20 Summit

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The Honourable Jim Flaherty, Minister of Finance, today announced a summit of influential international business leaders to be held on the eve of the G20 leaders’ summit in Toronto. The G20 Business Summit (B20), a business-led initiative organized by the Canadian Council of Chief Executives (CCCE), is expected to discuss the issues most relevant to the private sector, including strengthening the economic recovery, financial sector reform, trade, development and innovation.

“In building growth that is strong, balanced and sustainable, the private sector has a critical role to play,” said Minister Flaherty. “It is my hope that the business summit will not only inform discussions by G20 leaders, but enable business to play an active role in finding practical solutions to the global challenges we all face. I look forward to hearing their advice on how to get the global economy firmly on the road to recovery.”

“The private sector and governments must work together closely to ensure a durable economic recovery,” said John Manley, President and Chief Executive Officer of the CCCE. “Governments provided essential stimulus during the global recession, and now that they are turning their attention to restoring fiscal discipline, business must once again take the lead in driving investment and job creation.”

The G20 Business Summit will take place June 25-26, with a working dinner followed by a day of briefings, roundtable discussions and direct exchanges between business leaders and G20 Finance Ministers.  Each G20 country will invite two representatives from its business community.

The B20 is one of a number of outreach initiatives planned in advance of the Toronto summit to gain insight from various groups on shared global challenges. It is also designed to complement other events already underway to strengthen G20 engagement with the international business community, such as the G20 Business Summit planned for the Seoul leaders’ summit in November.

For further information, media may contact:

Annette Robertson
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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