The Business 20 (B20) is an informal network of national business communities and associations coming from the world’s twenty largest developed and developing countries (G20, the Group of Twenty).
Since its creation in 2010, it has been promoting an effective dialogue between business, G20 governments and international institutions (the World Bank, IMF, etc.), aiming to contribute to steady global economic growth while also protecting interests of national economies. Every year, the B20 prepares a set of recommendations on economic development for the G20 leaders.
In 2015, the B20 introduced regional consultation forums as an outreach to business communities from the countries outside it. The forums help to engage them in the discussion of global economic challenges and to factor in their opinion when drafting recommendations to the heads of G20.
The St. Petersburg International Economic Forum has been hosting B20 regional forums since 2015.
Here, they are usually organised by the Russian Union of Industrialists and Entrepreneurs (RSPP) and a representative of the country which is the current chair of the G20 (the B20 Executive Committee). This year, it is the German Committee on Eastern European Economic Relations (a member of the Federation of German Industries, BDI).