• Within the framework of the First Great Ibero-American Summit on Sustainability and Innovation for Business, the president of the Bogota Chamber of Commerce and president of the World Chambers of Commerce Federation, Nicolás Uribe Rueda, recalled that the Chambers of Commerce in the world are the allies of the business sector to open new markets and advance in trade exchange and integration processes.

• The event was attended by internationally renowned speakers such as Ha-Joon Chang, South Korean economist and professor at SOAS, University of London; María Fernanda Garza, president of the International Chamber of Commerce; Alan Mac Carthy, co-founder and president of Front; Ian de Cruz, global director of P4G. At the inauguration, the Vice Minister of Business Development, María Fernanda Valdez, presented the National Government's guidelines for the productive sector.

• More than 600 businessmen attended the first day of the Ibero-American Summit and 112 companies participated in the networking spaces organized by sector.

• The second day of the Summit will take place today. See the agenda at https://www.ccb.org.co/Cumbre-Iberoamericana.

Bogota D.C., October 26, 2022. The Bogota Chamber of Commerce, in partnership with the World Chambers of Commerce Federation, held the first Great Summit on Sustainability and Innovation for Business, in order for more than 600 businessmen and businesswomen from all over Ibero-America to connect with business leaders from different countries and international panelists, while exchanging experiences in innovation and sustainability for the acquisition of new businesses.

The event was inaugurated by the president of the Bogota Chamber of Commerce and also president of the World Chambers of Commerce Federation, Nicolás Uribe Rueda, who reminded the attendees of the key role played by the chamber system as a bridge between governments and citizens: "Chambers of Commerce are the ones called to promote public-private articulation in the implementation of policies that encourage and facilitate development and they are the ones who can convene and make attractive markets available to SMEs. The Chambers can jointly build solutions to the problems of the business sector and promote structural transformations in the business model to make them sustainable and productive".

Likewise, in his installation speech, Uribe Rueda called for the productive sector to be increasingly sustainable and with purpose "I have no doubt that there are more and more of us who believe that a sustainable business action over time is not only the one that is more productive, but the one whose success also depends on achieving a triple impact: economic, social and environmental. I am talking about companies with purpose, those that produce better, that produce more with less and that do so hand in hand with the communities where they operate, companies that, for example, are efficient while at the same time closing gender gaps and contributing to mitigating the effects of climate change."

For her part, the president of the International Chamber of Commerce, María Fernanda Garza, reminded the attendees of the enormous support required by micro, small and medium-sized companies around the world to overcome the current global crisis impacted by the war in Ukraine, the effects of the pandemic and inflation. "In Latin America we need governments and businesses to work in cooperation to maintain the economy and jobs. More than 60% of MSMEs have lower incomes than they did before the pandemic and that directly impacts households. In developing countries, families have lost 1.5% of their income, just because of the increase in maize and wheat. As a business community, we must be a source of solutions to solve today's challenges through innovation, but innovation cannot happen in a vacuum."

Also, at the opening of the event, the Vice Minister of Business Development of the Ministry of Commerce, Industry and Tourism, María Fernanda Valdez, presented the National Government's guidelines on sustainability and innovation. Specifically, Vice Minister Valdez stated that the Government seeks to "Transition from an extractivist economy to a productive and sustainable economy, strengthening the economic and social integration of Latin America and the Caribbean, inserting the country into globalization and projecting Colombia as a competitive, sustainable and peaceful tourist destination". To this end, the government of President Gustavo Petro has set three objectives to work hand in hand with the business sector: environmental sustainability, contribute to closing technological gaps and promote productive chains that generate employment, wealth and reduce inequalities.

During the first day of the Summit, Ian de Cruz, global director of P4G, said: "what we are asking companies and businesses is to see these national plans on climate action and Sustainable Development Goals, not only as environmental plans, but as real business sources for sustainable solutions".

In addition to the conferences, during the first day 112 companies held networking and business meetings, 28 companies in the Manufacturing Hall, more than 50 service companies, 14 companies in Agrifood and 20 companies in environment and energy. These meetings will continue tomorrow and Thursday of this week.

Keynote speech The summit's keynote address was given by South Korean economist and professor at SOAS, University of London, Ha-Joon Chang, who explained the new challenges facing the business sector in the global context.

Regarding sustainability and innovation, Chang recalled that "business strategies in the 21st century must incorporate innovation, inclusion and sustainability, and although it may sound challenging to pursue all three simultaneously, their objectives complement each other. Without innovation, sustainability (economic, political, social and environmental) is impossible and inclusion difficult. With inclusion, companies and economies are more innovative as it generates diverse thinking and makes workers more open to new technologies and more sustainable. Greater sustainability brings greater stability, which helps companies and nations become more innovative and inclusive."