Alice Slayton Clark Archives

Business Sets Priorities for Education Policy

Published on June 28, 2016

In response to the skills shortages many economies face, the Business and Industry Advisory Committee (BIAC) to the OECD released a “Business Priorities for Education” paper that calls for stronger cooperation among employers, policymakers, and education institutions.

“Our societies, and employers in particular, have a profound interest in ensuring that today’s and tomorrow’s job seekers are versatile, skilled, and employable,” commented Charles Fadel, Chair of the BIAC Education Committee. “They must be prepared to learn throughout their professional lives.”

Businesses therefore pay close attention to education policy. The competitiveness of companies, and the health of the societies in which they operate, hinge to a great extent on the talent and knowledge of employees.

The BIAC paper contributes chapters by thought leaders from national employer organizations and other education policy experts. Areas for action as identified in the paper include:

  • Curriculum and assessment reform
  • Entrepreneurial education
  • Teaching quality and school autonomy
  • Vocational education and training, and work-based learning
  • Innovation in education and higher education

Read Business Priorities for Education

International Chamber of Commerce Statement on UK EU Referendum

Published on June 24, 2016

brexit_sourceFollowing the United Kingdom vote to leave the European Union, the International Chamber of Commerce has issued the following statement.

ICC Secretary General John Danilovich said:

“Business will need time to assess the implications of yesterday’s EU referendum vote in the UK. The urgent priority must be to calm the markets and we need strong political leadership in the coming days and weeks to achieve this.

“From a global business perspective international cooperation is more vital than ever. The UK must not turn its back on global economic integration and trade. Openness not protectionism must be a central part of the response to the Brexit vote.

“The anti-trade sentiment that we have seen in recent months must not dominate the post-Brexit debate. The UK may be headed out of the European Union, but it must move into the world. Openness not protectionism must be a central part of the response to the Brexit vote.”

OECD Secretary General Addresses the Washington Trade Community

Published on June 22, 2016
Mulligan WITA
L-R: Rob Mulligan (USCIB), Nancy Donaldson (ILO), Ken Ash (OECD) and Shawn Donnan (Financial Times)

On June 17, USCIB participated on a panel organized by the Washington International Trade Association with the OECD on Trade and Inclusiveness, which followed a speech by OECD Secretary General Angel Gurria. Gurria delivered key points to an audience of over 80 people about the importance of trade and investment for economic growth.

Rob Mulligan, USCIB’s senior vice president for policy and government affairs, participated on a panel moderated by Shawn Donnan (Financial Times) and talked about the 10 recommendations that the Business and Industry Advisory Committee (BIAC) to the OECD made for increasing productivity, growth and prosperity. The recommendations included the need to address cross border trade barriers, improve regulation and regulatory cooperation, provide an environment conducive to investment, encourage lifelong learning, create a framework that supports innovation and the digital economy, and flexible labor markets.

There was a loose consensus among the speakers that policies to open trade and investment had to be supported by complimentary policies that facilitate opportunities for all to benefit from growth generated by trade. In the questions from the moderator the panel touched on global value chains, localization requirements, competitiveness, the changes in trade agreements over the last 20 years as well as several other topics.

Other panelists included Ken Ash (OECD) and Nancy Donaldson (International Organization of Employers).

USCIB will be organizing a trade and investment conference in Washington, D.C. in September.

BIAC: Strengthen SME Financing and Global Growth

Published on June 22, 2016

Money_globeIn response to the current low growth trap facing many economies, the newly released publication, “Financing Growth; SMEs in Global Value Chains,” advocates G20 policy consistency for long-term financial stability, investment and economic growth. It shares perspectives from government, international organizations, business and academic thought leaders.

“For SMEs to participate in global value chains and underpin economic recovery, urgent actions are needed at G20 level to better coordinate financial regulations, strengthen access to financing and training and support the sharing of information through digital platforms,” said Bernhard Welschke, BIAC secretary general, commenting ahead of the G20 Finance Ministers and Central Bank Governors meeting in July in Chengdu.

The publication builds on a Roundtable event held on May 31 in Paris, co-organized by BIAC, B20 China, OECD, World SME Forum and SME Finance Forum.

The publication Financing Growth; SMEs in Global Value Chains is available online here: http://biac.org/wp-content/uploads/2016/06/Financing-Growth-SMEs-in-Global-Value-Chains.pdf

For further details about the Roundtable held on May 31, please see a video summary here: https://youtu.be/nVbwdLuoEMU and webpage here: http://biac.org/?p=13715

Still Clapping For Investment With Just One Hand

Published on June 17, 2016

By: Shaun Donnelly, USCIB

I was pleased to read earlier this week that Secretary of Commerce Penny Pritzker had appointed 19 leading representatives from the public and private sectors to the new Investment Advisory Council (IAC) which had been established earlier this year to advise the U.S. government on issues related to Foreign Direct Investment (FDI).  We at the US Council for International Business certainly welcome this new IAC and the increased focus on FDI issues. FDI is, indeed, critical to American economic growth and jobs.

But, unfortunately, a little bit of digging with Commerce staff after these appointments were made confirmed my fears that the Department and the U.S. Government are still stuck in a bygone era and clapping for FDI with just one hand.  The U.S. Government still seems stuck in an outdated mercantilist world view where inward FDI is good and deserves strong U.S. government support while outward FDI by U.S. based firms, the other side of the FDI coin and the other hand that could be clapping, is somehow bad and should be punished.  Some in the U.S. Government and on Capitol Hill still seem to think, somehow, that U.S. firms are investing abroad simply to outsource production.  Nothing could be further from reality.  Studies show American firms invest abroad to tap new markets and grow their companies.  Over 95 percent of the production of U.S. investments overseas is sold overseas, generating new revenues and new jobs here at home.

Read the full article at Investment Policy Central

US Business Concerned with China’s Cybersecurity Regulations

Published on June 10, 2016

china_flag_large-600x300Ahead of the U.S.-China Strategic Economic Dialogue which took place in Beijing on June 6-7 convening high-level officials to discuss trade, finance, security and the environment, USCIB and other business organizations sent a letter to the China Insurance Regulatory Commission citing concerns with China’s proposed technology regulations (“Provisions”).

“If adopted as currently drafted, however, the Provisions would create unnecessary obstacles to international trade and likely to constitute a means of arbitrary or unjustifiable discrimination against producers and service providers in countries where the same conditions prevail,” USCIB and others stated in the letter. “As a consequence, we have concerns that the Provisions could constitute an unnecessary obstacle to international trade.”

The business community asked China to postpone the adoption of the Provisions to allow for further stakeholder input, and to ensure that China’s cybersecurity regulations avoid unnecessary commercial disruptions.

Additionally, on June 13 the United States and other World Trade Organization members expressed concerns about proposed Chinese insurance regulations that they claim favor home-grown technologies over those of foreign producers.

Read the full letter.

 

The Unexpected Regulatory Threat to Global Trade

Published on June 9, 2016

The International Chamber of Commerce was quoted in an article in the Wall Street Journal, “The Unexpected Regulatory Threat to Global Trade,” about a European Union regulation on the short-term financial instruments that connect buyers and sellers of goods across countries.

The EU included trade-finance instruments, such as letters of credit, in the list of bank liabilities that could be written down if a bank goes under: “This decision, the banks say, creates an enormous compliance headache and a competitive disadvantage, and could leave unsuspecting parties holding the bag if foreign buyers fail to pay their bills.”

“It’s a poorly thought-out regulation that will hurt EU businesses,” said Emily O’Connor, senior policy manager at the Paris-based International Chamber of Commerce.

Read the full article at the Wall Street Journal’s website.

Washington Update: April – May 2016

Published on June 2, 2016

washington-Lincoln-MemorialsDuring the months of April and May 2016, USCIB staff met with U.S. Secretary of Labor Thomas Perez, wrote an op-ed in support of TPP with the Japanese Keidanren, joined an industry letter to Treasury on the proposed section 385, represented U.S. businesses at OECD/BIAC Trade, Investment, and Anti-Bribery meetings in Paris, submitted priority issues for the JCCT, received the President’s “E” Award for Exporting Excellence, engaged with Alan Davidson on the Commerce Department’s Digital Economy Agenda, and much more.

Download the full update.

Inside:

USCIB CEO Robinson Partners with Japan Keidanren in Seattle Times Op-Ed Supporting TPP
USCIB President and CEO, Peter Robinson, joined Kunio Ishihara, Vice-Chairman of the Japanese business federation Keidanren, to publish an op-ed that appeared in the Seattle Times. The op-ed highlights the economic and geopolitical benefits of the TPP for the United States, Japan and the Asia-Pacific region. Ishihara led a Japanese business delegation to Seattle and other U.S. cities earlier that week of May.

USCIB Enables Engagement with Commerce’s New Director of Digital Economy
On April 14, 2016, USCIB convened a special meeting with Alan Davidson, the Commerce Department’s new Director of Digital Economy and Senior Advisor to the Secretary of Commerce. This provided an opportunity for USCIB members to engage with Davidson about the Commerce Department’s Digital Economy Agenda. A critical complement to this agenda, according to Davidson, is the development of data and methodologies to enable a more accurate measurement of the digital economy, which also is a Commerce Department priority.

USCIB Receives President’s “E” Award for Exporting Excellence
On May 16, 2016, USCIB was recognized as one of 123 organizations to receive the President’s “E” Award for exporting excellence. Secretary of Commerce Penny Pritzker honored USCIB during the ceremony for our work as an advocate of open markets and promoter of U.S. exports. In addition to USCIB’s policy work promoting growth, jobs and open markets, USCIB is the National Guaranteeing Association for the ATA Carnet, a customs document under which merchandise can be temporarily imported duty-free into the United States and many other countries.

Secretary of Labor Thomas Perez Addresses Joint Labor and Corporate Responsibility Meeting
USCIB members and government officials gathered in Washington, D.C. on May 3 and 4, 2016, to review several important upcoming events and initiatives regarding labor policy, business and human rights, and corporate social responsibility. The meetings were headlined by a briefing from U.S. Secretary of Labor Thomas Perez, and also featured as speakers from the Bureau of International Labor Affairs, USTR for Labor Affairs, and USAID.

USCIB Raises Priority Issues for Business in 2016 U.S.-China JCCT Submission and Hearing with Commerce and USTR
In April, USCIB submitted the USCIB Priority Issues for the 2016 U.S.-China Joint Commission on Commerce and Trade (JCCT), which is the primary forum for addressing bilateral trade and investment issues and promoting commercial opportunities between the United States and China. Eva Hampl then participated in a meeting on the JCCT with other organizations, hosted by Under Secretary of Commerce for International Trade Stefan Selig and Deputy USTR Robert Holleyman.

Download the full update.

OECD Competition Week

Published on June 1, 2016

scalesA strong delegation from the Business and Industry Advisory Committee (BIAC) to the OECD will participate in the upcoming OECD Competition week, which will take place from June 13 to 17. Over the years, BIAC has become a trusted actor and knowledge partner in the activities of the OECD Competition committee and of its two Working Parties (Competition & Regulation and Cooperation & Enforcement). The BIAC Competition Committee is currently preparing written contributions on a number of topics, ranging from public interest considerations and jurisdictional nexus in merger control to commitment decisions in antitrust cases, as well as on the challenges of fidelity rebates. After very stimulating discussions on disruptive innovation in the financial sector during the last OECD Competition week, the focus will now be on legal services and on the way new technologies can have a disruptive effect on markets in this sector.

In parallel to this very rich program, the Working Party on Cooperation and Enforcement will hold a joint session with the OECD Working Group on Bribery. The focus will be on detecting antitrust and bribery cases (whistle-blower protection, leniency) as well as on the legal and practical challenges to the exchange of information between (domestic and foreign) competition and anti-corruption enforcers.

40th Anniversary of the OECD Declaration on Multinational Enterprises

Published on June 1, 2016

investment_buildingsOn the occasion of its General Assembly, the Business and Industry Advisory Committee (BIAC) to the OECD will celebrate the 40th anniversary of the OECD Declaration on International Investment and Multinational Enterprises (MNEs), a policy commitment by adhering governments to promote an open and transparent environment for international investment and encourage the positive contribution multinational enterprises can make to economic and social progress.

The Declaration consists of four parts and is intended to balance public policy to promote an open international investment climate with a business commitment to responsible business conduct: the ‘national treatment’ principle, the commitment to minimize conflicting requirements, the commitment to cooperation in the field of international investment incentives and disincentives, and the OECD MNE Guidelines, the most comprehensive government-backed instrument for promoting responsible business conduct. The Declaration commits adhering countries to improve the investment climate, while companies are encouraged to apply the standards of responsible business conduct as set out in the Guidelines.