Press Release

Renowned Business Leaders Welcome Landmark Agreement on International Migration

The Global Compact for Safe, Orderly and Regular Migration gets backing from global business community

NEW YORK, NY – Numerous leaders of major multinational companies endorsed the Global Compact for Safe, Orderly and Regular Migration (Global Compact for Migration) today at the second annual Bloomberg Global Business Forum, a gathering of more than 70 heads of state and delegation, and 200 of the world’s most prominent business leaders, to strengthen economic prosperity and collaborate on trade issues, globalization, innovation, and competition.

The Global Compact for Migration is the first-ever global agreement to cover international migration in all its dimensions. It was negotiated under the auspices of the United Nations. While legally not binding, the Global Compact for Migration outlines a cooperative framework with 10 guiding principles and 23 objectives that would improve international cooperation on migration. It invites the involvement of all actors concerned by migration, including the private sector.

In a press conference with the Presidents of Switzerland and Mexico, Alain Berset and Enrique Peña Nieto, whose Permanent Representatives to the United Nations led the negotiations, Michael R. Bloomberg, the Founder of Bloomberg L.P. and Bloomberg Philanthropies, and Mayor of New York City (2002-2013), announced the first wave of support from global business leaders for the Global Compact for Migration. These founding signers include Jim Coulter and Jon Winkelried, Co-CEOs of TPG; Dawn Fitzpatrick, Chief Investment Officer of the Soros Fund Management; Joe Gebbia, Co-founder and Chief Product Officer of Airbnb; Dara Khosrowshahi, CEO of Uber; Rich Lesser, CEO of BCG; Hamdi Ulukaya, Founder, Chairman and CEO of Chobani; and John Zimmer, President and Co-Founder of Lyft.

Migrants currently make up 3.4% of the world’s population, but produce nearly 9% of its wealth. Recalling this enormous economic potential of international migration, the Global Compact for Migration represents a much needed reference document to enhance partnerships between governments and business on migration.

Michael R. Bloomberg said: “There are more displaced people today than at any time since World War II. Every nation has a role to play in addressing this crisis, and this Compact is designed to help guide them. It provides a framework for how the international community can reap the economic benefits of immigration, without sacrificing national sovereignty or rule of law – and I want to thank all of the government and business leaders who are supporting its implementation.”

President Alain Berset of Switzerland added that demographic shifts around the world will lead to an increase in migration and that it is in Switzerland‘s core interest to have a well-functioning system of regular and safe migration: “Without the foreign labor force, many of our industries would not function as they do now. Notwithstanding difficulties, migration must be seen as an enrichment – economically and culturally.” One of three inhabitants of Switzerland are immigrants or descend from immigrated parents.

President Enrique Peña Nieto of Mexico emphasized that a whole-of society approach is pivotal to the implementation of the Global Compact’s objectives: “Everyone – civil society, the private sector, academia and States – must collaborate to ensure that the objectives and goals of the Global Compact become realities that transform the lives of migrants and societies of origin, transit and destination.”

The Global Compact for Safe, Orderly and Regular Migration will be adopted by Heads of State and Government in Marrakesh, Morocco at a United Nations conference on 10 and 11 December 2018.


For more information:

Also see Frequently Asked Questions on the Global Compact for Migration:

Peter Lauener, Switzerland

Claudia Algorri, Mexican Ministry of Foreign Affairs

Rachel Nagler, Bloomberg Philanthropies