The Group of 7, representing Northern business, economic and trade union interests, has urged politicians to embrace the Hillsborough proposals and the IRA pledge to put its arms beyond use as a means towards restoring accountable democracy in Northern Ireland.
The Group of 7 is chaired by the chairman of the Ulster Bank, Sir George Quigley, and comprises influential organisations that have consistently supported the political process. Sir George said the organisation, established almost four years ago, was formed to "give a voice to civil society and to encourage the parties to factor bread-and-butter issues into their political calculations, and be innovative and persistent in the pursuit of solutions to apparently intractable problems".
During critical stages of the peace process before, after and around the time of the signing of the Belfast Agreement, the Group of 7 issued statements urging politicians to compromise and find agreement. This often prompted criticism from anti-agreement unionists.
Sir George and his colleagues in the organisation - which includes the Irish Congress of Trade Unions, the Institute of Directors, the Northern Chamber of Commerce and the Confederation of British Industry - none the less have consistently canvassed for a new political accommodation.
"By providing a business perspective we believe that we can add a further dimension to a debate which so far focuses hardly at all on the social and economic consequences of continued stalemate," Sir George said.
In its statement yesterday, the Group of 7 said the joint statements and letters by the British and Irish governments and the IRA statement at the weekend represented a "major advance towards a durable peace and political stability".
If the Hillsborough proposals did not lead to the restoration of the political institutions this month, their restoration in the foreseeable future seemed unlikely, the organisation warned.
It called on politicians to "seize this significant new opportunity to get the Belfast Agreement implemented in full and, at the same time, to accept the challenge to shape our destiny".
"We urge all who are concerned for Northern Ireland's future as a successful region to assess very carefully the opportunity now available to focus forward. The economic players pledge their commitment to such a future. We invite the whole community to do likewise and to make the fresh start which has hitherto proved so elusive," the statement said.
Meanwhile, Dr Alan McClure chairman of the Derry Chamber of Commerce, said the local business community should encourage the latest political initiative.
"This is a moment of opportunity. The future prosperity of a new generation in Derry and the north-west may hinge on the outcome of the next few days. We cannot afford to ignore the opportunity," he added.
