Press Release Archives

Linda Kromjong Is New Secretary General of International Organization of Employers

Published on May 1, 2015
Linda Kromjong
Linda Kromjong

Geneva and New York, May 1, 2015 – Linda Kromjong of the Netherlands took up her post as the new secretary general of the International Organization of Employers (IOE) today, heading the organization’s Geneva-based secretariat following her appointment by the IOE Management Board in March.

The IOE is the world’s largest private-sector network in the world, with more than 150 national business and employer organization members. It is the recognized voice of business on social and labor policy, with standing in the International Labor Organization (ILO), across the UN and multilateral system, and in the G20 and other emerging global forums.

Kromjong previously served as vice president of international labor relations and human rights with Deutsche Post DHL, a recognized world leader in logistics services. In this capacity, Kromjong worked closely with employers’ organizations, including the German Confederation of Employers’ Associations (BDA), as well as the IOE through her active participation in the global industrial relations network.

IOE President Daniel Funes said Kromjong was named secretary general in view of her wealth of experience and expertise in the areas of industrial relations, business and human rights, human capital development and human resources management, as well as for her proven track record in communications and team-building in international business environments.

“The Management Board is confident that, with Linda Kromjong in place, the IOE secretariat has both the leadership and staff to build on existing strengths and to develop in directions that will ensure the future sustainability and growth of the IOE as the global voice of business,” Funes said.

Kromjong said that she looked forward to leading the secretariat and to reaching out to as many of the members as possible during June’s annual ILO Conference, as well as on their home ground as soon as time permitted. She added that she would also be making an early priority of consolidating the IOE’s partnerships with other organizations to strengthen the voice of the private sector at the national, regional and international levels.

The United States Council for International Business (USCIB) serves as the IOE’s American member federation.USCIB Senior Counsel Ronnie Goldberg serves as a member of the ILO Governing Body and as an IOE regional vice president for North America.

Click here to view Kromjong’s bio on the IOE website.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence.  Its members include 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 the IOE, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

 

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

USCIB Hails Trade Promotion Authority Legislation

Published on April 16, 2015

capitol_scaffolding_loresNew York, N.Y., April 16, 2015 – The United States Council for International Business (USCIB) applauded the introduction of bipartisan legislation in Congress to re-establish Trade Promotion Authority (TPA), trade legislation that facilitates the negotiation and implementation of U.S. trade agreements.

“The United States needs TPA to secure international trade deals that create jobs and increase economic prosperity for all,” said USCIB President and CEO Peter Robinson. “We won’t be able to complete important agreements with Asia, the European Union and other trading partners without TPA. The business community is urging Congress to swiftly pass this legislation.”

USCIB and its member companies have been outspoken advocates for TPA and for an ambitious trade U.S. trade agenda, organizing two high-level policy conferences about the benefits of increased trade and investment: “Exploring New Approaches to Trade, Investment and Jobs” last October with a keynote by USTR Michael Froman, and the Customs & Trade Facilitation Symposium in February with Customs and Border Protection Commissioner Gil Kerlikowske.

As a founding member of the Trade Benefits America Coalition, USCIB also joined with other leading business groups to advocate for passage of TPA and educate the public about how U.S. trade agreements lead to prosperity for all. The coalition has worked with Congress and the Obama administration to build public support for the U.S. trade agenda. In addition, last month Robinson co-authored an Op-Ed in The Hill with former Rep. James Bacchus about the pressing need to pass TPA.

Robinson cited important recent progress on several trade pacts – including the Trans-Pacific Partnership, the Transatlantic Trade and Investment Partnership, and the implementation of the World Trade Organization’s Trade Facilitation Agreement – as adding urgency to the need to re-establish TPA, which every president since FDR has enjoyed.

“Current trade negotiations could make our country the preferred location for global innovation and jobs,” Robinson said. “But first Congress must provide President Obama the necessary trade negotiating authority.”

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

 

Global Business Calls on G20 to Ensure That Actions Match Words on Trade Protectionism

Published on April 15, 2015

FourthEd_Scorecard_Banner_150x50Washington, D.C., April 15, 2015 – On the eve of the 2015 World Bank and IMF Spring Meetings, the International Chamber of Commerce (ICC) has called on G20 governments to do more to address the growing impact of protectionism on the global economy, according to ICC’s American chapter, the United States Council for International Business (USCIB).

The fourth installment of the ICC G20 Business Scorecard – which assesses the response of the G20 to recommendations put forward by the international business community – highlights that G20 governments have done a “poor” job in implementing their commitment to roll back trade restrictive measures introduced since the financial crisis.

Commenting on the launch of the Scorecard, ICC Chairman and co-chair of the B20 Trade Task Force Terry McGraw said: “There is a paradox right now at the heart of trade policymaking. On the one hand, we’ve got possibly the most robust negotiating agenda in two decades—with a range of deals on the table that, with the right political leadership, could provide a major stimulus to the global economy.

“But at the same time, we are seeing governments subtly employing regulatory measures – or non-tariff barriers – to restrict international trade. While the G20 deserves great credit for holding the worst protectionist excesses in check, action is needed now to curb the steady drip feed of measures which we have seen since the financial crisis.”

Research suggests that, despite G20 commitments, the global stock of protectionist measures has continued to increase over the past year. One recent study indicated that since 2008, over 70% of the changes to trade rules around the world have curbed trade, rather than spurring it.

ICC Secretary General John Danilovich added: “Protectionism is not just bad for business: it also has a significantly negative effect on job creation and consumer welfare. The G20 now needs to lead by example, as it has done in many other areas, and take action on its longstanding commitment to roll-back protectionist policies.”

“The IMF has just lowered its growth forecast for this year to 3.5 percent. What’s more, 200 million people remain unemployed across the globe. Trade policy needs to be viewed as the next economic stimulus. Implementing the B20’s four trade recommendations from 2014 could add some $3.4 trillion to global GDP.”

The release of the Scorecard also comes ahead of the anticipated introduction of so-called “fast-track” legislation in the United States – which would give President Barack Obama authority to negotiate free-trade deals with other countries under special rules.

USCIB President and CEO Peter Robinson said: “It is critically important for individual G20 member countries to keep moving forward on trade. We are delighted that the U.S. and many of its G20 partners are involved in ambitious, market-opening negotiations such as the Trans-Pacific Partnership and the Trans-Atlantic Trade and Investment Partnership.”

“We also applaud the imminent introduction of Trade Promotion Authority legislation in the U.S. Congress, which will be a very welcome sign of new wind in the sails of global trade liberalization.”

The full G20 Business Scorecard is available at: http://www.iccwbo.org/Global-influence/G20/Reports-and-Products/ICC-G20-Scorecard/

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Media contact:

Jonathan Huneke, USCIB

+1 917.420.0039, jhuneke@uscib.org

 

Shaping the Future of the Internet

Published on February 13, 2015

Conference to Spotlight Growth and Inclusion in the Digital Economy

USCIB_ICT_Web_banner_2015Washington, D.C., February 11, 2015 – The Internet forms a crucial pillar of the world’s economic infrastructure, and advancements in information and communications technology (ICT) have extraordinary potential to raise living standards across the world. Given recent developments in online privacy, cyber-security and freedom on a global scale, what are the policies that can best harness the transformational power of the Internet to create economic opportunity, address social challenges and include everyone in the digital economy?

These questions will be addressed at an upcoming conference organized by the United States Council for International Business (USCIB), “Promoting Inclusive Growth in the Digital Economy: The OECD Evidence and Practice Base,” on today’s most pressing Internet policy questions for an audience of global business leaders and government officials. This second annual conference, which takes place March 10 at the Microsoft Innovation & Policy Center in Washington, D.C., is being presented by the United States Council Foundation, USCIB’s educational arm, along with the Organization for Economic Cooperation and Development (OECD) and BIAC, the Business and Industry Advisory Committee to the OECD.

“It’s important for both business and government to recognize the unique and important role that the OECD has played in conducting evidence-based research and developing related policy recommendations aimed at enabling all sectors to access the economic and social benefits provided by ICTs and Internet-enabled innovation,” said Joseph Alhadeff, vice president of global public policy and chief privacy strategist, Oracle Corporation. Alhadeff chairs BIAC’s Committee on Digital Economy Policy. In this capacity has been a leading advocate for global ICT interests in OECD discussions.

The full-day conference will feature a strong lineup of policymakers and thought leaders from around the world, including:

  • Andrew Wyckoff, director of the OECD Directorate for Science, Technology and Industry (STI)
  • Ambassador Daniel Sepulveda, deputy assistant secretary and U.S. coordinator for international communications and information policy, U.S. Department of State
  • Houlin Zhao, secretary general, International Telecommunications Union (ITU)
  • Christopher Painter, S. Department of State coordinator for cyber issues
  • Kathryn Brown, president and CEO, Internet Society (ISOC)

Discussions will focus on the OECD’s broad stakeholder participation in Internet policy-making, enabling the benefits of digital innovation across all sectors, promoting trade, inclusion and trust in the digital ecosystem, and addressing online security challenges. The work of the OECD in developing better policies in an open and interconnected digital world is recognized and respected by policymakers and business leaders for the fact-based economic analysis informing its policy recommendations.

In view of the Internet’s importance to all sectors of the economy, the March 10 program will be open to business participants from the ICT community, as well as representatives of the Internet technical community and civil society. Read the full conference agenda here.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

 

Miami Symposium to Spotlight Eliminating Red Tape in Global Trade

Published on January 21, 2015

4940_image001New York, N.Y., January 21, 2015 – How can governments and the business community work together to stimulate growth by reducing bottlenecks in cross-border trade? The United States Council for International Business (USCIB) will hold a major conference to address this topic next month in Miami.

USCIB will partner with the International Chamber of Commerce (ICC), the Paris-based world business organization for which it serves as the U.S. national committee, to hold the ICC and USCIB Customs & Trade Facilitation Symposium: Finding Solutions to Cross-Border Challenges, February 22-24 at the Four Seasons Hotel in Miami.

“International trade is critical to keeping the global economy moving forward,” said USCIB President and CEO Peter Robinson. “In a world of just-in-time delivery and highly integrated global supply chains, unnecessary and burdensome barriers to trade can cost companies and national economies billions of dollars. This symposium will help forge a path toward removing the red tape that can complicate cross-border commerce.”

The symposium will feature a strong lineup of policy makers and other speakers from around the world, including:

  • Kunio Mikuriya, secretary general, World Customs Organization
  • Harold McGraw, chairman, McGraw Hill Financial [now S&P Global] and chairman of both ICC and USCIB
  • Brenda Brockman Smith, assistant commissioner, U.S. Customs and Border Protection
  • Lev Kubiak, assistant director, U.S. Immigration and Customs Enforcement
  • Virginia Brown, director, U.S. Agency for International Development
  • Norm Schenk, vice president, UPS and chair, ICC Customs and Trade Facilitation Commission
  • Jerry Cook, vice president, Hanesbrands and chair, USCIB Customs and Trade Facilitation Committee.

In November, members of the World Trade Organization (WTO) took a welcome step toward lifting some of the administrative burdens on traders when they agreed to implement the landmark WTO Trade Facilitation Agreement (TFA). Once implemented, the TFA is expected to spur global economic growth and create some 21 million new jobs – 18 million in developing countries – while adding $1 trillion to global GDP.

In addition to the TFA, the symposium will address work being done worldwide on “single window” initiatives, trusted-trader programs and the expansion of the Panama Canal, among other things. The full conference agenda is available at www.icc-uscib-customs-event.org.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 at www.uscib.org.

USCIB Applauds President’s Trade Agenda in SOTU

Published on January 20, 2015

4935_image001New York, N.Y., January 20, 2015 – The United States Council for International Business (USCIB) welcomed President Obama’s commitment to a pro-trade agenda and specifically to Trade Promotion Authority (TPA) in his State of the Union address to Congress this evening. USCIB said its member companies look forward to working with the Administration and the Congress on a bipartisan effort to advance America’s national interests in this key area.

TPA will give the president the necessary authority to negotiate strong U.S. trade agreements, making it easier for the United States to close deals to benefit American workers and companies, and then move trade agreements to Congress for their review and approval.

“Trade is an important tax-free engine for U.S. economic growth and jobs,” said USCIB President and CEO Peter Robinson. “TPA will provide a boost to U.S.-led efforts to open international markets and eliminate trade barriers.”

Robinson continued: “Ambassador Michael Froman and his skilled team of negotiators should not have to negotiate with one hand tied behind their back. The business community is encouraged that the president has committed to move forward on an aggressive trade agenda that will enhance America’s competitiveness, economic growth, and jobs.”

Last week USCIB sent a letter to President Obama urging him to highlight his administration’s trade agenda and to call for passage of TPA. The letter emphasized that a strong, coordinated push from the administration, Congress and the business community is needed to get TPA over the finish line.

USCIB also praised the work being done by the United States Trade Representative Ambassador Froman, leading the charge on TPA and the trade negotiations under way including the Trans-Pacific Partnership with Pacific-Rim countries, the Trans-Atlantic Trade and Investment Partnership with the European Union and the Trade in Services Agreement.

A strong advocate for international trade and investment at home and around the world, USCIB is a member of the Trade Benefits America Coalition steering committee, an organization of American companies and business associations dedicated to getting the facts out about the benefits of TPA and U.S. trade agreements. International trade already supports over 38 million American jobs and TPA can help raise that number even higher.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 at www.uscib.org.

Contact:

Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

EU Publishes Consultation Report on Investment Protections in U.S.-EU Trade Agreement

Published on January 13, 2015

4931_image002New York, N.Y., January 13, 2015 – The United States Council for International Business (USCIB) looks forward to a resumption of negotiations on investor protections in the Transatlantic Trade and Investment Partnership (TTIP) following today’s publication of the EU’s final report on the online public consultation on investment protection and investor-state dispute settlement (ISDS) in the U.S.-EU trade agreement. TTIP negotiations were launched in July 2013, but negotiations on the agreement’s investment chapter have been stalled since early 2014.

As an active advocate for strong investment protections, USCIB hopes that with the publication of this report, productive negotiations on an investment chapter in TTIP can resume.

Following a preliminary report providing a statistical overview of responses, this final report provides the opportunity for the EU to resume negotiation of an ambitious investment chapter in TTIP, armed with a wide variety of stakeholder input as guidance. Nearly 150,000 replies to the consultation included specific views on the thirteen questions posed, as well as statements indicating opposition or concern to investment protection, ISDS and TTIP in general. Without providing specific guidance on the contents of an investment chapter in TTIP, the Commission responded to the various views by outlining four areas in which to explore further improvements.

“Foreign direct investment (FDI) is a cornerstone of economic growth and jobs, and an open investment climate requires policies and agreements that are transparent and non-discriminatory,” said USCIB Director for Investment, Trade and Financial Services Eva Hampl.  “ISDS is an essential component of a predictable and fair system that protects investors against the potentially arbitrary actions of host states. It de-politicizes potential disputes by providing a neutral mechanism of legal dispute resolution.”

The Commission launched the consultation in response to public concerns about whether the EU’s proposed approach for TTIP would achieve the right balance between protecting investors and safeguarding the EU’s right and ability to regulate in the public interest.  USCIB submitted comments in support of an ambitious investment chapter including strong investor protection and ISDS representing the views of the U.S. business community.  USCIB also signed a joint statement with other U.S. and EU business associations upon the release of the report.

A high standard investment chapter including ISDS is crucial to a successful TTIP, and both the EU and the U.S. stand to gain significantly from a concluded agreement.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 at www.uscib.org.

 

USCIB Assails UKs Catch-22 Move to Tax Non-Resident Companies

Published on December 15, 2014

competitiveness2New York, N.Y., December 15, 2014 – The United States Council for International Business (USCIB) condemned proposed UK rules to impose a new tax on so-called “diverted profits,” saying the measure would, if implemented, have a major impact on U.S.-based multinational companies.

The rules, contained in UK Chancellor of the Exchequer George Osborne’s Autumn Statement, propose a new tax on diverted profits. Among other things, the proposed rules would impose a new tax on non-resident companies selling goods and services to UK customers by penalizing non-resident companies for avoiding a UK permanent establishment (“PE”).

“The UK’s proposal jumps the gun on ongoing discussions concerning the scope of taxation rights on non-resident companies,” said USCIB Vice President and International Tax Counsel Carol Doran Klein. “USCIB believes that the UK’s unilateral assertion of the right to tax so-called diverted profits is an undisguised attempt to bring more tax revenue into the UK, whether consistent with international norms or not.”

Klein said the UK move would undercut discussions in the 34-nation Organization for Economic Cooperation and Development (OECD) to develop rules on base erosion and profit shifting (BEPS). The BEPS project, which seeks to address growing concerns over non-taxation of certain cross-border operations and transactions by multinational firms, is examining a wide range of international tax rules, including those on permanent establishment.

“The goal of the multilateral discussions on BEPS is to reach consensus solutions to identified international tax issues,” Klein stated. “Unilateral assertions of taxing jurisdiction by any countryincrease the risk that other countries will simply abandon the process and act unilaterally. Such actions increase the likelihood of double taxation on companies, which will have a negative effect on cross-border trade and investment.”

The diverted profits tax PE rule would apply if a non-UK resident is: carrying on activity in the UK in connection with supplies of goods or services made by the non-resident company to customers in the UK without becoming subject to the UK corporate income tax;the UK tax authorities believe the non-resident is deliberately trying to avoid PE status; the non-resident’s total tax is reduced; and the company is large (sales of more than 10 million pounds in the UK).

This proposal would greatly expand UK taxing rights of non-resident companies that currently do not have sufficient presence in the UK to be subject to the regular corporate income tax, according to Klein. “Because the diverted profits tax applies when a UK nonresident does not have a PE and is imposed at a higher rate, companies will be encouraged to increase their UK presence to become subject to the regular corporate income tax,” she said. “That is, they would increase investment within the UK to pay more tax at the regular rate or pay the diverted profits tax at the higher rate on profits that will be subjectively determined by HMRC. That’s the Catch-22. “

Klein said the proposal would clearly override existing tax treaties and cause harmful double taxation. “It is intended to apply when there is no PE under the relevant rules,” she said. “Companies should be free to structure their affairs taking into account the rules as they are. If they do not have a PE under those rules, then they should not be subject to tax on their business profits. Countries should not be able to disregard agreed-upon rules simply because they do not like the outcome.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 the International Chamber of Commerce, the International Organization of Employers and the Business and Industry Advisory Committee to the OECD, 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 Taxation Committee

World Trade Back on Track – USCIB applauds breakthrough on implementation of WTO Trade Facilitation Agreement

Published on November 13, 2014
President Obama with Indian Prime Minister Narendra Modi at the White House in September (White House photo)
President Obama with Indian Prime Minister Narendra Modi at the White House in September (White House photo)

New York, N.Y., November 13, 2014 – The United States Council for International Business (USCIB) hailed today’s announcement by the United States and India of a breakthrough to end the impasse over implementation of the WTO Trade Facilitation Agreement (TFA).

“This is very welcome news and paves the way to bring the landmark TFA deal into effect,” said USCIB President and CEO Peter Robinson. “It will provide a big boost to the U.S. and global economies at a critical time. Coupled with the announcement this week of an agreement with China to move forward on expanding the WTO’s Information Technology Agreement, this demonstrates the continued importance of multilateral trade liberalization in the 21st-century global economy.”

Robinson added: “We especially commend U.S. Trade Representative Michael Froman and his team for their extraordinary, tireless efforts to find a solution to this frustrating deadlock. This agreement shows again the unique power of American leadership to find creative solutions to some of the toughest problems facing the world today.”

USCIB has pushed hard for resolution of the impasse, which arose in July when India blocked implementation of the TFA in a dispute over its food security measures. It has also worked closely with the International Chamber of Commerce, the world business organization for which USCIB serves as the American national committee, to get the TFA back on track.

ICC Secretary General John Danilovich added: “Coming on the eve of the G20 Summit in Brisbane, Australia, this breakthrough is not only welcome but extremely timely, laying the foundation for G20 leaders to forge ahead with a robust agenda for global growth and job creation.”

USCIB will honor WTO Director General Roberto Azevêdo at its International Leadership Award Dinner on November 19 in Washington, D.C. Ambassador Froman is scheduled to address the dinner.

Under the Trade Facilitation Agreement, which was concluded at last December’s WTO ministerial in Bali, Indonesia. WTO members commit to remove administrative and customs-related barriers to trade, in order to speed shipment of goods across borders. Once implemented, the TFA is expected to spur global economic growth and create some 21 million new jobs – 18 million in developing countries – while adding $1 trillion to global GDP.

Robinson said the business community was committed to helping developing countries implement the TFA. USCIB and ICC plan to hold a joint symposium on customs and trade facilitation this February in Miami.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 at www.uscib.org.

Contacts:
Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

More on USCIB’s Customs and Trade Facilitation Committee

USCIB Issues Policy Pillars on Foreign Direct Investment

Published on November 10, 2014

4878_image001New York, N.Y., November 10, 2014 – Foreign direct investment (FDI) is a prime motor of the global economy, boosting job growth and incomes in both home and host countries. What’s more, policy makers increasingly identify FDI as a critical element in financing and delivering innovative solutions to shared global challenges, such as climate change and sustainable development.

In many ongoing trade and investment negotiations as well as other global forums, however, sensible policies to promote cross-border investment are increasingly under broad, politicized attack. To help set the record straight, the United States Council for International Business (USCIB) has issued new “Policy Pillars on Foreign Direct Investment.”

“The time is right for a refresher course on the benefits of FDI,” stated USCIB President and CEO Peter Robinson. “Our members share a fundamental belief in the importance of cross-border trade and investment as engines of growth and human betterment. Yet many fundamental tools to boost FDI are poorly understood or under assault.”

The nine-point USCIB paper, developed under the auspices of the Council’s Trade and Investment committee, presents essential lessons and reminders to policy makers, including:

  • Clear, well-implemented government policies, and strong investment agreements, are essential to attract and retain high-quality FDI.
  • Bilateral investment treaties must protect investments, open up host economies for foreign investment and provide effective rules to settle investment disputes.
  • State-owned enterprises present a range of challenges to home and host countries in crafting effective FDI policies.
  • Governments should provide effective support for both inbound and outbound FDI.
  • National security concerns surrounding specific investments must be dealt with in a clear, limited and non-discriminatory manner.

“Governments and the international community must take positive steps in order to promote and secure high-quality FDI,” said Robinson. “It is increasingly apparent that, in the 21st century, investment is a crucial component not just for the competitiveness of companies, or even of national economies, but for our global society as a whole as we confront a wide range of shared challenges.”

Release of the USCIB Policy Pillars follows participation by Robinson and Shaun Donnelly, USCIB’s vice president for investment policy, in last month’s UNCTAD World Investment Forum in Geneva, as well as a well-attended USCIB/OECD conference last week in Washington, D.C. on new directions in trade and investment policies. It also comes as USCIB is actively presenting the views of business in the UN climate change negotiations and the ongoing elaboration of new UN Sustainable Development Goals.

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include 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 at www.uscib.org.
Contact:

Jonathan Huneke, USCIB
+1 212.703.5043, jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee