International chambers of commerce express their concern about the consequences of the Russian-Ukrainian war
In a joint declaration signed by regional and international economic, industrial and agricultural chambers under the title “Common Future”, the International Chambers of Commerce highlighted the fears and concerns of the private sector due to the consequences of the Russian-Ukrainian war and after Corona, on the sidelines of the activities of the Mediterranean Economic Week held in Barcelona.
The agreement was signed by the Federation of Mediterranean Chambers of Commerce and Industry, the Federation of Arab Chambers, the Federation of African Chambers of Commerce, Industry, Agriculture and Vocational Chambers, the Association of European Chambers of Commerce and Industry, the Islamic Chamber of Commerce, Industry and Agriculture, the Association of Ibero-American Chambers of Commerce, Industry and services and the Federation of World Chambers.
Ahmed El-Wakil, president of the Federation of Mediterranean Chambers “ESCAMI” and president of the Egyptian Chamber of Commerce in Alexandria, said that in the joint declaration signed by the leaders and representatives of the federations of regional and international chambers, it was pointed out that the world is at a crossroads and that governments and companies they have to adapt to the new normal and learn how to navigate in a world where working habits have completely changed.
He added that the climate crisis is more urgent than ever, threats to international trade and global cooperation still exist, and that open and constructive cooperation and dialogue are essential to ensure the success and prosperity of future generations.
Al-Wakil emphasized that the world after COVID-19 and the Ukrainian war requires joint cooperation in the international business sector through joint work, exchange of knowledge and use of common experiences, and it is possible through chambers of commerce to achieve common goals, improve competitiveness, and strengthen companies following strategies Futurism paves the way for sustainable growth, and achieving goals and progress requires partnership, and that is the right way.
The joint declaration points out that the entire private sector is deeply concerned about the social, economic and political consequences of the pandemic and the war in Ukraine, describing them as a huge, unexpected and tragic shock to social well-being and economic activity around the world, and it is not known whether return everything to the old way. Before the Corona pandemic and the Russian-Ukrainian war, but it is certain that the consequences will be long-term and that they must be dealt with with a different vision in the post-Corona pandemic world.
At the macroeconomic level, the joint declaration points out, it is clear that globalization is seriously wounded, however, the state of emergency will be lifted, and those in charge of the economy will reconsider priorities in light of the economic instability we are currently witnessing around the world.
The press release states that for centuries chambers of commerce have been the main driver of the development of millions of companies and that they have collaborated with governments and institutions to find solutions to local, regional and global challenges and provided support to the private sector, but recently the role of chambers of commerce has begun to be questioned , even in many countries their role has been reduced, forgetting its importance in economic development, internationalization, training and promotion of regional cooperation.
He pointed out that the chambers encourage the openness of international trade and investment and the market economy due to their international nature, pointing out that companies today operate in a new and unstable technological work environment in which innovation and adaptation are key elements, as the structure of the company, workforce, products or customers constantly are changing and solutions are needed. New chambers must be in a position to help, take advantage of opportunities and unite cooperation that leads to development and economic prosperity.
The representative stated that the joint declaration emphasized the importance of the role of chambers of commerce, which are managed and financed by businessmen, who have the broadest knowledge of real needs. Because of their international nature, they have the privilege of speaking with authority coming from companies in all sectors and from all parts of the world. They are key players as institutions responsible for promoting economic activity and promoting trade and investment cooperation.
Working together with international organizations, chambers of commerce are key tools for the successful coordination of business activities between North and South and promoting three levels of cooperation: cooperation in the field of development assistance, trade cooperation through exhibitions and missions, and regional cooperation as interlocutors with multilateral organizations. Its role in achieving trade openness in certain regions of the world is sometimes more useful than diplomacy itself.
Chambers of Commerce and the private sector should focus on the challenges of the current situation and events related to the COVID-19 pandemic and its impact on the business sector and the economy. It must launch support initiatives to help startups survive and grow while facing exceptional market challenges. It also supports technology entrepreneurs who want to develop their position as a global hub for innovation.
In the declaration, it was pointed out that the chambers must not only work to protect the interests of their members, but their work must benefit the national and global economy as a whole, and thus promote the goals of sustainable development and help ensure global peace and prosperity by promoting a more open and inclusive international trade and the establishment of a sustainable mechanism that measures the needs, aspirations and challenges of companies.
The press release states that chambers of commerce around the world operate within the framework of common goals, such as facilitating trade, removing existing barriers, promoting economic development and improving the business environment. These goals have evolved to create a strategic partnership that facilitates trade finance, and must always strive to provide its members with the tools and knowledge they need to thrive and grow locally and globally, to develop smart solutions and innovative services for businesses and adopt future strategies within the framework of competitiveness.
The statement states that exporters in the world are facing an unprecedented state of anxiety due to the crisis in international trade and the decline in activity witnessed by various production lines in the Mediterranean region and around the world, which has led to disruptions in the air, land and sea supply chain due to the spread of the new the Corona virus and the measures taken by governments to fight the epidemic. This has caused supply shortages, production line shutdowns, non-payments and so on.
The statement recommends exporters to engage in digital and electronic commerce. By making efforts to promote the products produced in the region and enable them to be competitive at the international level, and to secure and strengthen the production chains as much as possible and reduce their external dependence, the Chambers of Commerce throughout the Mediterranean with their privileged position can take the lead as the world sails “new normal”.
The statement also highlighted that environmental, social and governance principles will be key business drivers in the coming years. Businesses must also focus on the challenge of achieving zero carbon dioxide emissions, and as leaders, we must be ready to innovate in the face of new and existing challenges and take bold steps together.
The statement said the chamber federations will champion a strategic agenda to help chambers chart the appropriate direction for a new era of business. Digital age, blue and green.