(Finance) – Strengthen the economic clout of the G7 through public-private cooperation and urgently reduce the competitiveness gap: this is, according to the B7 – one of the most authoritative Engagement Groups reserved for the manufacturing industry G7 – the main road to face the transitions that are reshaping the economy.
It is no coincidence that it is the heart of the message of the Final Statement that the industry gathered at the B7 Summitthe key event of B7 Italy 2024 organized by Confindustria and led by Emma Marcegaglia, elaborated in view of the G7 Italy Summit in June. Marcegaglia delivered the recommendations of the G7 industries on the main challenges of the global economic agenda to the Prime Minister, Giorgia Meloni. Priorities that will be presented to the ministers of the G7 Presidency, the presidents of the Business Federations of the G7 countries, the most authoritative global CEOs and the leaders of the major International and Multilateral Organizations.
The success of the G7 – as highlighted in the final document – depends on “dto the economic strength of all its components, from the ability to reduce any form of protectionism, it goesglorify the benefits of multilateralism and converge the industrial policies of individual states towards an integrated platform. While sharing concerns about economic security, the industry calls for keeping markets open to stimulate trade and reduce competitiveness gaps, while aligning export and investment control policies.” Geopolitics permeates the economy, investment and production. In this sense, “the cohesion of the G7 is crucial to deal with growing conflict and instability even beyond its borders. Cooperation must extend to strategic partners such as Africa, strengthening their resilience and addressing issues of extreme urgency such as critical dependencies, bottlenecks in global value chains, emergency management, common security mechanisms and response to coercion economics of non-market economies”
In setting out the path to support the G7, jointly drive transitions and transform critical issues into new opportunities through concrete policies and measures, the B7 final declaration indicates a series of priorities. First of all, maximize the benefits of Intelligence artificial to increase productivity and economic resilience, streamline global value chains and optimize infrastructure planning, natural resource management, energy demand forecasting and response to climate change
That is also among the priorities at the top of the agenda to encourage the data economy and digital technologiesthe.