To ensure economic growth and resilience, G-7 leaders agreed to adopt a three pronged approach- the G7 Ise-Shima Economic Initiative – of fiscal, monetary and structural policies and to do more to address the global demand supply gap of infrastructure investment with emphasis on quality climate resistant infrastructure. They also warned of the economic consequences of the United Kingdom leaving the European Union, according to the editorial of the current News Bulletin of International Chamber of Commerce-Bangladesh (ICCB) released today.
G7 summit 2016 which concluded on May 27 focused on the global economy, foreign policy and the migration and refugee crisis. The G7 called for a global response to the crisis. Leaders committed to increase global assistance to meet the needs of refugees and their host 
communities. They called on financial institutions and bilateral donors to bolster their assistance. They also agreed to enhance legal channels for migration and encouraged the establishment of resettlement schemes.
The leaders opined the rise of violent extremism, terrorist attacks and other challenges, pose serious threat to the existing rule based international order, as well as to common values and principles for all humanity. It was recognized that much had been done to align global efforts to detect and defeat terrorism and that a lot more could be done to fight this global security threat and in this regard an Action Plan on Countering Terrorism and Violent Extremism was adopted.
The leaders understood G7 has a special responsibility to lead international efforts to tackle these challenges. Furthermore, following the adoption of the 2030 Agenda for Sustainable Development (2030 Agenda) and the Paris Agreement on climate change last year, the G7 will further make efforts to implement their commitments, the leaders mentioned .
Traditionally, a number of third country heads of state and government, as well as chairpersons of international organizations, are invited to participate in parts of the summit. In Ise-Shima Summit Asian member states, the heads of state and government of Bangladesh, Indonesia, Laos, Papua New Guinea, Sri Lanka, and Vietnam were invited. In addition, the President of Chad – the current Chairperson of the African Union – and, from the international organizations, the chairpersons of the UN, OECD, ADB, IMF and the World Bank were invited. The G7 Summit held in Asia after eight years.
Bangladesh played a significant role in the outreach meetings. Prime Minister Sheikh Hasina led the discussion on four important issues: Health, women empowerment, achieving sustainable development goals and cooperation in building advanced infrastructure. Bangladesh Prime Minister said at the meeting that the world will not face problems if the developed countries extend technological and financial help and cooperation to increase empowerment. She informed the global leaders about the socioeconomic development and economic progress of Bangladesh in the meeting.
The G7 leaders together with outreach participants discussed quality infrastructure investment and open and stable seas under the theme of “Asian stability and prosperity.” Additionally, as this is the first G7 Summit Meeting since the adoption of the “ UN 2030 Agenda for Sustainable Development (2030 Agenda),” it also focused on health and active engagement of women and discussed promotion of Sustainable Development Goals (SDGs) and development in Africa.
On health, outreach participants agreed on the importance of strengthening the international community’s capabilities to respond to public health emergencies including infectious diseases, promoting universal health coverage (UHC) that plays a key role in dealing with a wide range of health challenges and enhanced support for AMR. The G7 Summit released the G7 Ise-Shima Vision for Global Health in these areas.
The G7 leaders and outreach participants agreed on the importance of promoting quality infrastructure investments to strengthen regional connectivity with reliable infrastructure and further utilization of infrastructure through institutional improvements and personnel training. Outreach participants expressed their support for the G7 Ise-Shima Principles for Promoting Quality Infrastructure Investment endorsed by the G7 leaders and the “Expanded Partnership for Quality Infrastructure” announced by Japan.
