Kira Yevtukhova Archives

Dow’s Liveris to Receive Global Business Group’s Top Award

Published on October 11, 2011
Andrew Liveris
Andrew Liveris

New York, N.Y., October 11, 2011 – Andrew Liveris, president, chairman and CEO of The Dow Chemical Company (Dow), is to be honored by the United States Council for International Business (USCIB), a pro-trade group representing America’s top global companies.  Mr. Liveris will receive USCIB’s International Leadership Award at a November 16 gala dinner at the Waldorf-Astoria in New York.

USCIB said the award recognizes Mr. Liveris’s strong commitment to international growth and to ensuring that the United States benefits broadly from closer trade and investment ties with other countries.

“Andrew Liveris is an outstanding business statesman,” said USCIB Chairman Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies.  “In his time at Dow’s helm, amid great economic upheaval, he has continued to grow the company by aggressively expanding in overseas markets, while ensuring that Dow’s global success drives innovation and increased competitiveness in its U.S. operations.  Equally important, he has been a leading voice in public policy debates on the vital role of manufacturing, innovation and trade in U.S. economic success.”

Mr. Liveris is the 31st recipient of USCIB’s International Leadership Award, which has been most recently presented to George Buckley of 3M and Muhtar Kent of Coca-Cola.  The annual USCIB award gala draws hundreds of business leaders and dignitaries from government and diplomatic circles.  More information on the event is available at www.uscibgala.com.

An advocate for the critical importance of manufacturing for the long-term health of a nation’s economy, Mr. Liveris was appointed co-chair of President Obama‘s Advanced Manufacturing Partnership in the United States.  He is the author of the book Make It in America, published earlier this year, which presents policy solutions and business strategies to foster an “advanced manufacturing” economy.

“Andrew Liveris’s selection as our 2011 honoree is testament to his, and his company’s, extraordinary leadership in global public policy,” said USCIB President and CEO Peter M. Robinson.  Mr. Robinson noted the presence of Dow executives in key leadership positions in USCIB’s global business network, including in the International Chamber of Commerce and the Business and Industry Advisory Committee to the OECD.

A USCIB trustee, Mr. Liveris’s 35-year Dow career began in Australia, and has spanned the continents of Asia and North America, with roles in manufacturing, engineering, sales, marketing, and business and general management.  He has been a member of Dow’s board of directors since February 2004, and was named CEO in November 2004.  He was elected as chairman of the board effective April 1, 2006.

Mr. Liveris’s breadth of experience and expertise spans the business, government, academic, and non-profit sectors.  He serves on the board of directors of IBM, is president of the International Council of Chemical Associations, vice chairman of the Business Council, and is a vice chair of the Business Roundtable.  He is a member of the U.S. President’s Export Council, the US-India CEO Forum, the Peterson Institute for International Economics, and the American Australian Association, and also serves on the board of trustees for The Herbert H. and Grace A. Dow Foundation, and Tufts University.

Dow is a $54 billion global specialty chemical, advanced materials, agrosciences and plastics company based in Midland, Michigan. More information is available at www.dow.com.

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms.  With a unique global network encompassing leading international business and employers groups, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More at www.uscib.org.

More on USCIB’s International Leadership Award Dinner

Dow website

USCIB Urges Swift Passage of Free Trade Agreements With Colombia, Korea and Panama

Published on October 3, 2011

New York, N.Y., October 3, 2011 – The United States Council for International Business (USCIB), which represents America’s leading global companies, applauded President Obama‘s submission of the U.S. free trade agreements with Colombia, Panama and Korea to Congress.

“The FTAs will provide a big boost to our economy as we seek to ensure sustained growth and a jobs-based recovery,” stated USCIB President and CEO Peter M. Robinson.  “These agreements have strong bipartisan support, and American business urges Congress to pass them without delay.”

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

More on USCIB’s Trade and Investment Committee

USCIB Congratulates U.S. on Signature of Anti-Counterfeiting Pact

Published on October 3, 2011

New York, N.Y., October 3, 2011 – The group that represents American business on the global stage welcomed the conclusion of an ambitious international anti-counterfeiting pact between the United States and several leading nations.  The United States Council for International Business (USCIB), called the Anti-Counterfeiting Trade Agreement (ACTA) signed Saturday in Tokyo an important sign of more aggressive international cooperation to stem rampant counterfeiting and piracy.

“The business community congratulates U.S. Trade Representative Ron Kirk and his team for concluding this important agreement,” said USCIB President and CEO Peter M. Robinson.  “Strong action is needed to combat the worldwide proliferation of fake products, which threatens U.S. consumers, jobs and our competitiveness.”

According to USTR, the ACTA negotiations aim to establish a state-of-the-art international framework that provides a model for effectively combating global proliferation of commercial-scale counterfeiting and piracy in the 21st century.  The agreement also includes innovative provisions to deepen international cooperation and to promote strong enforcement practices.  Together, these provisions will help to protect American jobs in innovative and creative industries against intellectual property theft, USTR said.

In addition to the United States, parties to ACTA are Australia, the European Union, Japan, Korea, Mexico, Morocco, New Zealand, Singapore and Switzerland.

USCIB has a long record of advancing intellectual property rights around the world.  It was an early supporter of protecting IPRs in the World Trade Organization via the Uruguay Round.  As the U.S. affiliate of the International Chamber of Commerce (ICC), USCIB provides American business views to foreign governments and international organizations, including the World Intellectual Property Organization.  USCIB also helped launch ICC’s BASCAP (Business Action to Stop Counterfeiting and Piracy) initiative, which coordinates the business community’s response, across industry segments and across national boundaries, in the fight against counterfeiting and piracy.

“Business is working with our partners around the world to keep action against counterfeiting and piracy at the top of the international agenda,” said Mr. Robinson.  “We look forward to working with the U.S. and other governments to ensure effective implementation and enforcement of ACTA going forward.”

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

More on BASCAP (ICC website)

More on USCIB’s Intellectual Property Committee

SWIFT and ICC Collaborate on Enhanced Rules and Tools for Trade Finance

Published on September 21, 2011

Declaration of Cooperation paves way for market acceptance of the Bank Payment Obligation instrument

New York, N.Y., September 21, 2011 – SWIFT, the financial messaging provider for more than 9,700 financial institutions and corporations in 209 countries, and the Banking Commission of the International Chamber of Commerce (ICC) have signed a Declaration of Cooperation that will enable industry-wide adoption of the Bank Payment Obligation (BPO), according to ICC’s American national committee, the United States Council for International Business (USCIB).

The ICC Banking Commission is a global rule-making body for the banking industry and a worldwide forum of trade finance experts whose common goal is to facilitate international trade finance.

The BPO will offer an alternative means of settlement in international trade and will provide the benefits of a letter of credit in an automated environment. It enables banks to offer flexible risk mitigation and financing services across the supply chain to their corporate customers.

Both ICC and SWIFT believe that by working together and leveraging their respective positions across the trade finance community, the BPO will have an important role to play in the development of international trade by addressing cost pressures in the face of increased automation and changes in the regulatory environment.

“Trade finance is a critical banking service supporting the world economy,” said Kah Chye Tan, chair of the ICC Banking Commission and global head of trade and working capital with Barclays.  “It is vital that the industry aligns on enhanced rules and tools in support of trading counterparties whether large or small. The ICC Banking Commission views the development of the BPO rules and the related ISO 20022 messaging standards as strong foundations for banks to provide modern risk and financing services aligned with today’s technology evolution.”

Michael Quinn, chair of USCIB’s Banking Committee and managing director at JP Morgan Global Trade Services, elaborated: “The Bank Payment Obligation will facilitate significant operating process improvement for corporations involved in Trade Finance while preserving the risk mitigation attributes of the traditional letter of credit.  The ICC-SWIFT work on BPO rules and standards leverages the  expertise of the respective organizations to help broaden the availability of trade finance for bank customers, an important driver of economic growth at a time when it’s vitally needed both here in the U.S. and abroad.”

Industry forecasts indicate that merchandise exports will reach $33 trillion (U.S.) by 2020, from $6 trillion in 2000, explained Gottfried Leibbrandt, head of marketing at SWIFT.  “ICC and SWIFT are best positioned to help the banking industry facilitate further growth of trade using innovative solutions,” he said.  “SWIFT is committed to helping its member banks deliver innovation in trade finance to the corporate world.”

The declaration, signed at Sibos in Toronto, confirms the framework for collaboration between SWIFT and ICC to publish and maintain a set of contractual rules that will establish uniformity of practice in the market adoption of the Bank Payment Obligation (BPO) and the related ISO 20022 messaging standards.

 

About the ICC Banking Commission

The ICC Banking Commission is a leading global rule-making body for the banking industry, producing universally accepted rules and guidelines for international banking practice, notably letters of credit, demand guarantees and bank-to-bank reimbursement. ICC rules on documentary credits, UCP 600, are the most successful privately drafted rules for trade ever developed and are estimated to be the basis of trade transactions involving more than one trillion dollars a year. The Banking Commission is equally a worldwide forum of trade finance experts whose common aim is to facilitate international trade finance across the world. With over 500 institutional members in 85 countries, many of them emerging, the Banking Commission is one of the largest ICC Commissions.

About SWIFT

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,700 banking organizations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardized financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

More on USCIB’s Banking Committee

New Marketing Code Raises Consumer Protection Standards Around the World

Published on September 15, 2011

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New York, N.Y., September 15, 2011 –New protection for Internet users – along with detailed standards for marketers selling to them – are highlighted in a newly revised code of global marketing practice from the International Chamber of Commerce (ICC), according to ICC’s American national committee, the United States Council for International Business (USCIB).

The Consolidated ICC Code of Advertising and Marketing Communications, launched today and made globally available online, serves as the foundation for national self-regulatory systems that monitor marketing practices and provide consumers with easy access to make complaints and redress problems.  The Code was unveiled in Buenos Aires at an international conference on responsible advertising, hosted by CONARED, the Latin American Association of Advertising Self-Regulatory Organizations.

“Our Consolidated Code is recognized as the gold standard for self-regulation,” said John Manfredi, chair of ICC’s Commission on Marketing and Advertising and CEO of Manloy Associates.  “This new Code expands the scope and reach of global efforts with rules that cover consumer rights and business’s responsibilities online.  It increases protection for children on the Internet and sets parameters for all advertising directed to them, and it adds safeguards for consumers’ privacy and personal information.”

Mr. Manfredi added that ICC, to make the Code accessible to everyone, has launched a website, www.codescentre.com, dedicated to self-regulation at all levels – global, national and regional.  “It will serve business people, regulators, self-regulators and academics as well as consumers,” he said.  “Its purpose is to build trust for self-regulation by setting high marketing standards.”

The Code sets out the do’s and don’ts on many topical and difficult marketing issues including:

  • Setting conditions and limits for online behavioral targeting of advertising (OBA), based on interest profiles created by tracking web browsing habits of consumers;
  • Establishing restrictions on products that may be marketed to children and information gathered from them;
  • Specifying guidelines for making responsible environmental marketing claims and creating sound food and beverage ads;
  • Setting standards for ethical behavior and transparency on digital communications for the new technology players, including mobile operators, search engines, application developers, information aggregators and data gatherers;
  • Protecting consumer privacy with clear guidance on consumers’ rights, including the right to know what information is acquired by a marketer and the standards for the collection, use and safeguarding of personal data when it is collected.

“The newly revised Code demonstrates industry’s continuing commitment to ethical marketing practice,” said Brent Sanders, associate general counsel with Microsoft Corporation and chair of USCIB’s Marketing and Advertising Committee.  “Some of the most interesting revisions to the Code for U.S. marketers include those that harmonize for the first time at the international level provisions about online behavioral advertising [OBA], requiring transparency and control for consumers for their online data.  This builds on pioneering OBA self-regulatory efforts here in the United States and expands them globally.  Enhancing consumer trust in advertising is vital to a competitive and innovative marketplace.”

Mr. Sanders is scheduled to review the key provisions of the Consolidated ICC Code of Advertising and Marketing Communications on October 3 in New York at the National Adverting Division’s annual conference.

About the International Chamber of Commerce

ICC is the world business organization, representing enterprises from all sectors in every part of the world. It promotes cross-border trade and investment and the multilateral trading system, and helps business meet the challenges and opportunities of globalization. Business leaders and experts drawn from ICC’s global membership establish the business stance on broad issues of trade and investment policy as well as on vital technical subjects. ICC enjoys a close working relationship with the United Nations and other intergovernmental organizations, including the World Trade Organization and the G20. ICC was founded in 1919. Today it groups hundreds of thousands of member companies and associations from 120 countries. For more information please visit: www.iccwbo.org

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

ICC’s codescentre.com website

More on USCIB’s Marketing and Advertising Committee

Industry Wants Re-evaluation of Foreign Trade Zones Changes

Published on August 11, 2011
Foreign trade zones provide special customs procedures to U.S. plants engaged in international trade-related activities.
Foreign trade zones provide special customs procedures to U.S. plants engaged in international trade-related activities.

New York, N.Y., August 31, 2011 – American exporters, importers and multinational companies are urging a U.S. government panel to reconsider proposed rules changes they say would make it harder to do business through foreign trade zones in the United States, according to the United States Council for International Business (USCIB), which represents America’s top global companies and signed the appeal along with several other groups.

The business groups have asked the Foreign Trade Zones Board (FTZB), an interagency body led by the Department of Commerce, to re-open for comment a portion of proposed rules change, put forward in December 2010, that would impose more costly and burdensome treatment of goods subject to antidumping duties or countervailing duties that move through such zones.

“This policy change runs counter to the Obama administration’s National Export Policy, which aims to double U.S. exports within five years,” said USCIB President and CEO Peter M. Robinson.  “Moreover, it would force many companies to shift production from U.S. foreign trade zones to manufacturing centers overseas in order to remain competitive, thus depriving our country of valuable export-oriented jobs.”

The existing policy allows foreign trade zone users to import goods that would normally be subject to such duties, then manufacture and re-export finished goods without paying duties, so long as the finished products are not sold in the United States.  The new proposal would make such duty-free importation significantly more difficult by requiring a de facto trade remedy proceeding to determine whether the duty-free admission of these goods is in the public interest.

Mr. Robinson said industry wants the FTZB to maintain its existing policy of allowing privileged foreign-status merchandise to be exported without the payment of taxes and duties.  “The existing policy aims to prevent foreign trade zones from being used to circumvent antidumping and countervailing duties orders,” he said.  “The proposed regulation disregards the fact that such orders only apply to goods that enter for consumption in the United States, not those to be exported.”

The other groups joining USCIB in the appeal were the American Association of Exporters and Importers, American Institute for International Steel, Consuming Industries Trade Action Coalition, Emergency Committee for American Trade and National Association of Foreign Trade Zones.

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

Contact: Jonathan Huneke, USCIB
(212) 703-5043, jhuneke@uscib.org

Business letter to U.S. Foreign Trade Zone Board

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Trade and Investment Committee

World Economic Climate Worsens According to ICC-Ifo Survey

Published on August 11, 2011

According to the latest quarterly World Economic Survey (WES), published today, from USCIB’s affiliate the International Chamber of Commerce (ICC) and the Munich-based Ifo Institute for Economic Research, the global economic upswing is faltering after the first two improved quarters of 2011.

The World Economic Climate indicator fell by 10 points, from 107.7 in the second quarter of 2011 to 97.7 in the third. It fell based on the assessment of 1,080 economic experts, in 117 countries, who responded to the WES survey questions on both the current economic climate, as well as on the next six-month outlook.

The worsening economic climate is largely the result of a decline in indicator markers in Asia, North America, and Western Europe. The factors attributed to decline, however, are quite different in each of these regions.

In Asia, decline in the economic climate has been attributed to efforts by most Asian countries to moderate their pace of economic growth in order to reduce inflation pressure and maintain sustainable growth. Experts in China, India and Indonesia, in particular, have judged their economic climates more reservedly than others. The economic climate indicator for Asia is still slightly above its long-term average, falling overall by just over seven points from 101.8 in the second quarter of this year to 94.7 in the third.

The biggest drop occurred in North America, from 98.7 to 81.2, in large part due to the United States.

The abrupt drop in economic climate in Western Europe, after two years of constant improvement, is spread unevenly throughout the region, which fell overall from 115.1 to 105.2 points. The climate dimmed in part because previously strong upswings in Germany, Sweden and Switzerland lost some momentum, and in part because of problems in Italy and Portugal, the report indicates. The climate in the United Kingdom also worsened, while the economic climate in France improved.

Latin America was the only region whose economic climate remained unchanged, and Oceania was the sole region to enjoy a rise in expectations.

Inflation expectations have risen slightly worldwide, compared to the previous two quarters. WES experts now forecast an annual inflation rate of 4.0% for 2011, compared to 3.8% in its Q2 survey in April and 3.4% at the beginning of the year.

While the yen and euro are considered somewhat overvalued, the report’s experts thought the British pound and the US dollar were appropriately valued. They also foresee a further worldwide average decline in the value of the US dollar over the next six months, led by an expected weakening of the US dollar in some Asian countries, particularly China, Singapore, Thailand and the Philippines, as well as in Canada and Russia.

Read more on ICC’s website

View graphs of the WES Ifo Survey

Download the full WES Ifo report

Business Groups Seek More Aggressive Promotion of CleanEnergy Exports

Published on July 27, 2011

Clean_EnergyNew York, N.Y., July 27, 2011 – The United States Council for International Business (USCIB), which represents America’s top global companies, has joined with an array of leading U.S. business groups in urging ramped-up efforts to promote U.S. clean energy exports. The groups unveiled their proposal at a briefing on Capitol Hill today.

“Meeting the global demand for American clean energy technology will be critical for job creation and American technological leadership in the years ahead,” said Rob Mulligan, senior vice president and head of USCIB’s Washington, D.C. office. “To do this, we need a more coordinated and aggressive approach by the U.S. government in promoting exports of U.S. environmental goods and services.”

The business groups put forward a six-point plan to help guide action by the U.S. government in promoting green technologies. They recommend the following principles:

1. Ensure technological neutrality in efforts to encourage clean technology exports

2. Activate U.S. commercial diplomacy, including the International Trade Administration, in support of clean tech exports

3. Require robust monitoring and reporting on clean technology export programs

4. Further develop flexible clean technology funding mechanisms

5. Protect U.S. intellectual property rights globally

6. Reduce barriers to international trade in environmental goods and services.

“Taken together, these efforts would help clear away significant barriers at the domestic and international levels to American clean energy exports, thereby supporting robust job creation and innovation in this critical sector,” said Mr. Mulligan.

In addition to USCIB, signatories to the principles were the Business Council for Sustainable Energy, Business Roundtable, Coalition of Services Industries, Emergency Committee for American Trade, Information Technology Industry Council, National Foreign Trade Council, National Association of Manufacturers, National Electrical Manufacturers Association and the U.S. Chamber of Commerce.

The proposal was released at a briefing featuring Senator Ron Wyden (D-OR), chairman of the Senate Finance Subcommittee on International Trade, and Representative David Dreier (R-CA), chairman of the Committee on Rules in the House. Also at the briefing, a panel of senior representatives from the business and environmental communities and U.S. government discussed how promoting U.S. clean energy exports can help unlock foreign markets and grow businesses and jobs in the United States.

Panelists included: Jennifer Haverkamp, director of the international climate program at the Environmental Defense Fund; Mark Linscott, assistant U.S. trade representative for environment and natural resources; Ty Mitchell, vice president and general manager of LED lighting, Cree; Peter Perez, deputy assistant secretary of commerce for manufacturing; and Tim Richards, managing director for energy policy with GE Energy. The discussion was moderated by Bill Reinsch, president of the National Foreign Trade Council.

 

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

 

Business statement: “Encouraging U.S. Clean Energy Exports: A Set of Private-Sector Principles”

More on USCIB’s Environment Committee

Member Staff News Summer 2011

Published on July 1, 2011

New Co-Chairs of China Committee

We welcome Jianmei Feng of General Electric and Tad Ferris of Holland and Knight as co-chairs of USCIB’s China Committee. Previously vice chairs of the committee, Ms. Feng, senior counsel for public policy at GE China, and Mr. Ferris, a partner in Holland and Knight’s China team, succeed Clarence Kwan, national managing partner for Chinese services at Deloitte. We are extremely grateful for Mr. Kwan’s longstanding support and dedication to our China work. His leadership of the committee over the past eight years has helped shape USCIB’s positions on Chinese trade policy, and he has also served as the chair of the BIAC China Task Force.

USCIB’s Amanda Barlow
USCIB’s Amanda Barlow

Amanda Barlow, USCIB’s Carnet development manager, presented at FedEx’s Irving, Texas center in May to over 100 individuals gathered to successfully kickoff “Trade Texas Style,” a public-private partnership that supports President Obama’s National Export initiative. This state-wide trade initiative – composed of 37 private- and public-sector organizations including USCIB, the U.S. Commercial Service, Reed Exhibitions, JPMorgan Chase and FedEx – came together to present the value of expanding trade to small and medium-sized businesses in Texas. Fred Schardt, CEO of FedEx Trade Networks, and Mayor Herbert Gears of Irving both spoke at the event. Following the kickoff, over 500 first-round invitations went out asking Texas companies to consider joining and receiving the benefits from the counseling and planning support offered by the supporters of “Trade Texas Style.” Both USCIB and Carnet service provider Roanoke Trade Services exhibited at the event, drawing attention to the value of ATA Carnets as well as ICC Incoterms® 2010 for Texas business.

Send your USCIB member news to news@uscib.org.

New USCIB Members

We are delighted to welcome the following companies and organizations as the latest additions to USCIB’s diverse membership:

American Council of Life Insurers

Talecris Biotherapeutics, Inc.

To learn more about how USCIB membership can benefit your organization, contact Alison Hoiem (202-682-1291 or ahoiem@uscib.org).

USCIB Welcomes Progress on Approval of Pending Trade Agreements

Published on June 28, 2011

New York, N.Y., June 28, 2011 – The United States Council for International Business (USCIB), which represents America’s leading global companies, welcomed progress toward Congressional approval of pending U.S. free trade agreements with Colombia, Panama and Korea, as the Senate Finance Committee announced it will hold a mock mark-up on Thursday, June 30.

“Approving these agreements as soon as possible will provide a big boost to our economy as we seek to ensure sustained growth and a jobs-based recovery,” stated USCIB President and CEO Peter M. Robinson.  “We need the tools to compete and win in the world economy.  What’s more, failure to move quickly on the three trade agreements will damage American leadership and credibility on the world stage.  American business will do its utmost to ensure Congressional passage.”

The draft implementing bill for the Korea FTA will include an extension of Trade Adjustment Assistance.  “We believe that Trade Adjustment Assistance plays an important role in advancing a bipartisan trade agenda,” Mr. Robinson stated.  Earlier this year, USCIB joined other leading industry associations in signing a joint letter on the importance of TAA.

About USCIB

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

Contact:

Jonathan Huneke, USCIB

+1 212.703.5043 (office), +1 917.420.0039 (mobile), jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee