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Improving the infrastructure and connectivity

It has been commonly known in the past years that the infrastructure investment gap is largest in developing countries. At the same time, ageing infrastructure and lack of digitalization are also becoming more of a problem in developed economies.

To close this gap efficiently and unlock investments must be a goal of infrastructure policy – keeping in mind that Russia’s illegal war of aggression in Ukraine will likely bring additional challenges to the global economy to an extent not yet foreseeable. As leading developed nations, the G7 member countries face elevated responsibility here, but global efforts and close cooperation between businesses and governments are needed too.

Infrastructure Development

The main need for new and modernized infrastructure is in developing and emerging countries. G7 initiatives must be geared to the needs of these countries and in line with Paris climate agreement and the Sustainable Development Goals. Investments should be made based on national climate neutrality. To unlock public and private sector driven investments a variety of approaches in financing infrastructure projects should be made available.

Connectivity initiatives

Connectivity is both the goal for and the result of any sustainable and high-quality infrastructure, from a small to a global scale. Initiatives, partnerships and international connectivity cooperation need to be closely coordinated, focus on the needs of and benefits for partner countries, be based on shared values and adhere to internationally recognized rules and standards.

Level Playing Field

The B7 businesses operate in highly competitive markets and depend on a reliable and permanent level playing both in G7 member countries and in third countries. Non-market economies distort competition and restrict access to own markets. International trade rules and economic partnership agreements between the G7 member countries and third countries must be enforced more effectively, and open markets must be protected against unfair competition from third parties.