USCIB Gets Up and Running Swiftly In Superstorm’s Aftermath

A New York Police Department charging station set up following Sandy’s blast through the Northeast. (Photo: FEMA)
A New York Police Department charging station set up following Sandy’s blast through the Northeast. (Photo: FEMA)

USCIB’s New York headquarters and Washington, D.C. office were able to resume normal operations within days following last week’s “superstorm.”

After casting a wide swath of destruction across the Caribbean, Hurricane Sandy set its sights on the Middle Atlantic and Northeast U.S. coast. It hit the region hard, battering the shoreline, sending a storm surge into New York harbor and surrounding waters that caused widespread flooding, while downing trees and knocking out power to millions of people in the region.

While many USCIB staff members suffered material losses and disruption, we are grateful to have largely been spared the worst of the storm, and our thoughts and prayers go out to those more severely affected.  We urge you to help with ongoing assistance and reconstruction efforts.

How you can help victims of Hurricane Sandy

IMB Reports Drop in Somali Piracy, But Warns Against Complacency

4396_image002The number of ships signaling attacks by Somali pirates has fallen this year to its lowest since 2009, a report from the International Chamber of Commerce International Maritime Bureau (IMB) revealed today, but IMB warns seafarers to remain vigilant in high-risk waters around Somalia, the Gulf of Aden and the Red Sea. Meanwhile, violent attacks and hijackings are spreading in the Gulf of Guinea.

Worldwide this year, pirates have killed at least six crew and taken 448 seafarers hostage. The IMB Piracy Reporting Centre recorded that 125 vessels were boarded, 24 hijacked and 26 fired upon. In addition, 58 attempted attacks were reported.

The drop in Somali piracy has brought global figures for piracy and armed robbery at sea down to 233 incidents this year – the lowest third quarter total since 2008. In the first nine months of 2012, there were 70 Somali attacks compared with 199 for the corresponding period in 2011. And from July to September, just one ship reported an attempted attack by Somali pirates, compared with 36 incidents in the same three months last year.

IMB says policing and interventions by international navies are deterring pirates, along with ships’ employment of Best Management Practice including the use of armed guards and other onboard security measures.

Click here to read more on ICC’s website.

BIAC Engages Emerging Economies on International Tax Policy

For American global companies, it is hard to overestimate the importance of the OECD’s tax standards being accepted beyond the organization’s 34 member countries. OECD standards, embodied in a network of over 2,000 bilateral tax conventions, aim to prevent double taxation and ensure the effective resolution of tax disputes when they arise between jurisdictions. Through our affiliation with BIAC, the Business and Industry Advisory Committee to the OECD, USCIB members are able to track developments in the OECD’s tax work and share their views with policy makers from around the world.

In July, a BIAC delegation headed by BIAC Tax Committee Chair Chris Lenon (Rio Tinto) made a second trip to Beijing to meet up with top officials of the Chinese Tax Authority for a practical discussion on key issues for business and for China in context of the OECD tax policy agenda. The BIAC tax leadership also traveled to Cape Town, South Africa in May to address the African Tax Administration Task Force on tax capacity-building issues and to participate in the plenary meeting of the OECD Task Force on Tax and Development.

To read more about these BIAC Tax Committee activities, click here.

Staff Contact: Carol Doran Klein

More on USCIB’s Taxation Committee

ICC to Co-Host Intellectual Property Seminar in Beijing

beijing lanternsThe International Chamber of Commerce (ICC) Commission on Intellectual Property is teaming up with the China Council for the Promotion of International Trade (CCPIT) to co-host a conference entitled “Increasing Economic and Business Competitiveness Using Intellectual Assets” in Beijing on October 26.

Organized principally for Chinese policymakers, corporate representatives and intellectual property (IP) professionals, the event will bring in top speakers from China and beyond, including Tian Lipu, Commissioner of the State Intellectual Property Office of China (SIPO), David Koris, Global Head of Intellectual Property for Shell, senior figures in the U.S. and European patent offices, and IP specialists from major companies.

Talks will focus on how IP can help businesses and be used in government strategies to boost economic competitiveness, promote innovation and attract investment.

“We’re delighted to be working with CCPIT to organize this conference. Intellectual property is a crucial tool for businesses in today’s economy, and we hope this event will stimulate a fruitful exchange between businesses and government officials from inside and outside China on some key intellectual property issues facing businesses and governments,” said David Koris, who is also Chair of the ICC Commission on Intellectual Property.

Shell, Beiqi Foton Motor Co., State Nuclear Power Technology Cooperation, Monsanto and General Electric are just a few of the businesses whose high-level IP specialists will speak at the event.

For more information on which topics will be discussed, click here.

Staff Contact: Helen Medina

Intellectual Property Conference in Beijing Program

More on USCIB’s Intellectual Property Committee

ICC Seminar to Shed Light on Transfer Pricing and Customs Valuation

green map digitalFollowing the release of an International Chamber of Commerce (ICC) policy statement on the issue in May this year, the ramifications of Transfer Pricing and Customs Valuation on global business will be the focus of an ICC seminar to take place on October 25.

Hosted by Fasken Martineau DuMoulin in Montreal, the seminar seeks to garner views on the subject by outlining the current situation and explaining ICC’s position and recommendations while deepening the debate with lawyers, compliance officers, and representatives from other international organizations.

Six panels of experts will tackle regional and international problems of transfer pricing and discuss the conflicts between taxes and customs duties. The day-long, dynamic event offers a unique opportunity to voice views and hear the perspectives of panelists and participants alike.

Click here to view the agenda or register now.

Staff Contact: Kristin Isabelli

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Taxation Committee

USCIB Highlights Business Priorities for Upcoming UPU Ministerial

The Universal Postal Union (UPU) holds its quadrennial “congress” (i.e., ministerial) meeting in Doha, Qatar from September 24 to October 15. USCIB continues to urge the U.S. delegation to the UPU to work closely with interested U.S. private-sector companies, and to pay particular attention to assuring a level playing field if and when postal services anywhere in the world compete directly with the private sector, including on package delivery services and financial services.

As postal revenue dries up around the world, many publicly operated postal organizations may be tempted to get into new lines of business. This presents a vexing challenge to private-sector companies that may find themselves in competition with these state-supported entities. Last November, USCIB and three other business groups sent a letter to the Obama Administration urging the U.S. to prepare diligently for the Doha congress.

Staff contact: Shaun Donnelly

More on USCIB’s Trade and Investment Committee

ICC Launches First International Supply-Chain Financing Conference

digital mapInnovations in working capital solutions are more vital in today’s economic climate than they have ever been before. With companies and suppliers under conflicting pressures to improve payment terms, reduce prices and improve cash flow efficiencies, the International Chamber of Commerce (ICC) and its Banking Commission are focusing on establishing new financial solutions that will enable corporations to maintain a resilient supply chain. In light of this, the ICC Banking Commission has organized its first-ever ICC Supply-Chain Financing Conference, in Paris on October 4-5.

“World trade is predicted to grow by 75% in the next 15 years, with merchandise trade volumes set to climb to US$48 trillion by 2025, up from US$27.2 trillion today. From today’s emerging markets, new international powerhouses will arise to further drive world trade growth,” said Andre Casterman, Conference Co-Chair, Head of Banking and Trade Solutions, SWIFT and Co-Chair of the ICC Bank Payment Obligation (BPO) Project.

“To support such growth in a volatile economic climate, new supply chain finance rules are being established – Bank Payment Obligation rules, for instance, offer a new instrument that combines the benefits of the letter of credit with those of open account trade,” Mr. Casterman said. “Our conference provides a unique opportunity to learn from corporate experts and bankers about their visions and strategies for supply chain finance today.”

The conference combines educational sessions on different supply chain finance techniques while drawing on case studies and examples of best practice. Topics will be divided between “Invoice-based supply chain finance techniques” and “Purchase order-based supply chain finance techniques”.

Click here to read more on ICC’s website.

Staff Contact: Eva Hampl

More on USCIB’s Banking and Trade Finance Committee

World Economic Recovery Suffers Fresh Setbacks, ICC/Ifo Survey Shows

Results of the ICC-Ifo World Economic Survey, reveal declining optimism over global economic recovery as fear continues to spread about the unsolved debt crisis in Europe.

The Survey, which received responses from 1,079 experts in 123 countries, showed that the world economic climate indicator fell to 85.1 in Q3 2012 after two successive increases. These results are significantly below the long-term average of 96.7 (1996-2011) for the Survey, conducted by the Munich-based Ifo Institute for Economic Research and the International Chamber of Commerce (ICC).

These findings imply a setback in the recovery of the world economy due to unfavorable assessments of the current economic climate and a less positive six-month outlook than in previous quarters, particularly in Europe.

The climate indicator for Europe sunk to 88.9 for the current quarter, down 20 points from its long-term average of 109.0.

“Political decisions are urgently needed in order to counter this widespread negative outlook and to boost investor confidence, starting with resolving the debt crisis in Europe,” said ICC Secretary General Jean-Guy Carrier.

While the experts downgraded their evaluation of the economic climate from previous quarters – standing at 82.4 and 95.0 in Q1 and Q2 of this year respectively – they implied that the global economy is still in recovery and has not fallen back into recession.

Click here to read more on ICC’s website.

ICC Global Network Reaches Albania and Kenya

The International Chamber of Commerce (ICC’s) global network of national committees is set to expand with the addition of ICC Albania and ICC Kenya.  Located in more than 90 countries worldwide, national committees work with ICC members in their countries to voice the interests of business to national governments and provide input to ICC’s policy work.

“ICC Albania and ICC Kenya are important additions to the ICC global network and will help us, as the world business organization, to promote entrepreneurship, international trade and investment, and the market economy in the respective regions,” said ICC Secretary General Jean-Guy Carrier.

ICC national committees and groups form the global network that makes ICC unique among business organizations. The inauguration of offices in Albania and Kenya highlights the growing importance of these countries in the global economy.

Click here to read more on ICC’s website.

ICTs and the Internet Can Strengthen Economic Growth and Recovery

Investment in information and communication technology (ICT) and the Internet has the potential to boost job creation and economic growth during the current economic crisis, according to the International Chamber of Commerce (ICC), but opportunities for these technologies must be appropriately harnessed for this to take place.

ICC Commission on Digital Economy this week released ICTs and the Internet’s impact on job creation and economic growth, a tool designed to help policy makers seize opportunities to improve economic conditions.

Findings from studies collected in the paper show a positive correlation between investment in the Internet and other ICTs, and an increase in economic activity. High-speed networks and ICT services not only create a platform for this activity, but also improve the competitiveness of an economy.

The studies show that this potential for growth is even more substantial in developing countries. For each 10 percentage-point increase in high speed Internet connections there is an increase in economic growth of 1.38 percentage points for developing countries, according to research from the World Bank.

ICC urges policymakers to maintain a commitment to policies that will promote investment in the Internet and ICTs, which in turn will support sustainable economic growth and recovery.

Read more and download a copy of the report on ICC’s website

Staff contact: Barbara Wanner

More on USCIB’s Information, Communications and Technology Committee