Press Release Archives

Business Applauds Rollback of Foreign Trade Zone Changes Urges Ex-Im Bank Reauthorization

Published on February 28, 2012

New York, N.Y., February 28, 2012 – The United States Council for International Business (USCIB), which represents America’s top global companies, applauded the Obama administration’s rollback of planned changes to the rules governing U.S. foreign trade zones (FTZs). USCIB had earlier said some of the proposed changes would impose significant hurdles for exporters.

The U.S. Foreign Trade Zone Board, an interagency body chaired by the Commerce Department, yesterday published final regulations that replace the current FTZ regulations. The new rules do away with a proposed change that would have required advance approval to bring goods into FTZs for manufacture, even for export, that would, if entered for consumption, be subject to antidumping or countervailing duty orders. In an October statement, USCIB and other industry groups had expressed serious concern about this proposed change.

“Our message all along has been that the Foreign Trade Zone Board should strongly promote, rather than inhibit, U.S. exports, and avoid taking steps that would result in a loss of manufacturing jobs in foreign trade zones,” said USCIB President and CEO Peter M. Robinson. “The proposed change would have negatively affected the ability of U.S. manufacturers to process materials for export, which runs counter to the purpose of a foreign trade zone.”

U.S. foreign trade zones accounted for $34.8 billion in exports in 2010 and employ some 330,000 American workers.

USCIB also joined with a number of other industry groups in urging quick passage of the four-year reauthorization bill for the Export-Import Bank of the United States. In a joint letter to President Obama, the groups said that “failure to reauthorize Ex-Im would amount to unilateral disarmament in the face of other nations’ aggressive trade finance programs.”

In a February 17 speech to workers at USCIB member company Boeing, Mr. Obama pledged to boost support for U.S. manufacturers facing subsidized foreign competition, in part through expanded Ex-Im financing for U.S. facing competition from state-subsidized firms.

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

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Trade and Investment Committee

Business Pushes for Robust Trans-Pacific Partnership Agreement

Published on February 28, 2012

New York, N.Y., February 28, 2012 – The United States Council for International Business (USCIB), which represents America’s leading global companies, has joined 30 other leading U.S. business associations in pressing for an ambitious and comprehensive Trans-Pacific Partnership agreement, with robust enforcement and dispute settlement provisions. The business groups made their case in a letter to President Obama in which they urged the United States to push back strongly against Australian resistance to investor-state dispute settlement mechanisms like those found in other U.S. trade agreements.

The letter pointed out that investor-state provisions are already included in thousands of trade agreements and related instruments worldwide, including many to which Australia is a party. Such provisions, the business associations said, “promote the rule of law and serve as an important backstop to ensure that investors who risk their capital, property and talent in foreign countries will be able to enforce due process, non-discrimination, basic property and related protections in a neutral, balanced and objective forum.”

USCIB co-chairs the TPP Business Coalition’s investment committee, reflecting its role as a premier voice for liberalization of both trade and investment regimes around the world.

USCIB and the other letter signatories said Australia’s intransigence regarding investor-state provisions is thwarting the ability of the TPP negotiations to develop strong enforcement rules, and is “having a corrosive effect on the level of ambition and other key aspects of the TPP negotiations.” They expressed fear that, should Australia extract such a major exemption, “other countries would press forward to seek their own major exemptions from core commitments, which would ultimately unravel the ability to achieve a comprehensive, 21st-century TPP agreement.”

The letter noted that business concerns in this area are of practical, bottom-line importance. “As data from the U.S. Department of Commerce’s Bureau of Economic Analysis has shown over the past several decades, the U.S. investment overseas that strong investment rules promote brings important benefits back to the United States,” the business groups wrote.

“Firms that invest overseas are more globally competitive, export more, invest more in research and development and capital investment in the United States and pay their workers more than purely domestic companies. Promoting and assuring a level playing field for both inbound and outbound investment is therefore vital for the United States and the other TPP negotiating partners.”

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, VP communications, USCIB

(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

USCIB Statement on President Obamas International Tax Proposals

Published on February 23, 2012

New York, N.Y., February 23, 2012 – The United States Council for International Business (USCIB) is pleased to see that President Obama’s proposals on business tax reform advocate lower rates and a more efficient corporate tax system. USCIB appreciates the recognition by the President and the Treasury Department that tax reform will take time, require work on a bipartisan basis, and benefit from additional feedback from stakeholders and experts.  We and our members hope to make a positive contribution to that debate.

USCIB is, however, disappointed by the international aspects of the president’s proposals on business tax reform.  USCIB President and CEO Peter M. Robinson stated: “The international provisions fail to recognize that U.S. business competes for customers in the global marketplace.  While most countries have adopted territorial systems seeking to facilitate the competitiveness of their multinationals by taxing income only where it is earned, the U.S. is going in the opposite direction.  By proposing a minimum tax on foreign earnings, a tax on so called ‘excess profits’ and the disallowance of interest expense, the administration proposes a step backwards.”

Mr. Robinson continued: “A minimum tax on foreign earnings will simply make American firms less competitive than foreign based multi-national enterprises.  Further, the likely response in the marketplace is to make the U.S. a less favored jurisdiction for establishing the headquarters of a multi-national business.  Who would choose to set up their business in the U.S. knowing that global expansion would result in a minimum tax?  Companies currently headquartered here may not have many options, but anyone advising a new entity would certainly suggest establishing foreign control from the outset. These tax policies could have a role in the acquisition of American companies by foreign competitors.  When companies are successful in global markets, it means new jobs in their home countries to support those global business opportunities. Discouraging U.S. headquarters will result in fewer American jobs.”

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, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Taxation Committee

Business Urges Attention to Ongoing US-China Market Access Concerns

Published on February 14, 2012

4250_image002New York, N.Y., February 14, 2012 – As this week’s visit by Vice President Xi Jinping focuses attention on the complexity of U.S. relations with China, the United States Council for International Business (USCIB) is urging leaders from both countries to tackle important commercial and economic matters in order to keep this mutually beneficial relationship on an even keel.

 “The U.S.-China relationship extends across an array of geopolitical as well as economic issues, and our economies are now deeply intertwined,” stated USCIB President and CEO Peter M. Robinson.  “On balance, it provides significant benefits for both countries.  However, there remain too many commercial and economic issues handicapping the ability of American firms to compete in China and in third markets, thereby placing our workers at a disadvantage and impeding progress on the overall relationship.  These need to be urgently addressed.”

Mr. Robinson said major trade and investment priorities for American companies in China include, but are not limited to:

  • improving market access for key industries
  • resolving longstanding currency disputes
  • improving protection of intellectual property rights, and
  • ensuring competitive neutrality for state-owned enterprises.

“We urge the two governments to focus on resolving these issues through diplomatic means, both bilateral and multilateral, and to reinforce existing forums like the WTO, the Strategic and Economic Dialogue, and the Joint Commission on Commerce and Trade,” he said.

The USCIB president noted recent progress by China toward closer bilateral ties with other countries, including last week’s signature of a trade and investment agreement with Canada.  “We should be looking seriously at developing new agreements, such as a bilateral investment treaty (BIT) with China,” said Mr. Robinson.  “These could ensure continued liberalization of key markets and provide important security to American investments in the country.  Absent such agreements, American companies and workers could be disadvantaged when competing in China with companies from countries already benefitting from such agreements.  We shouldn’t be sitting on the sidelines.”

Mr. Robinson also called attention to an October USCIB statement on China’s compliance with its WTO accession commitments.  “As we noted in that statement, China has made important progress, but much work remains.  Priority issues include improving transparency in China’s regulatory environment, the need for fair and independent regulators, greater market access, non-discriminatory treatment and inadequate intellectual property laws.  We urge the U.S. and Chinese governments to take up these issues on a priority basis, and we stand ready to provide business views to help ensure a fully informed discussion.”

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, VP communications, USCIB

(212) 703-5043 or jhuneke@uscib.org.

More on USCIB’s China Committee

More on USCIB’s Trade and Investment Committee

 

Statement by USCIB on President Obama’s State of the Union Address

Published on January 25, 2012

New York, N.Y., January 25, 2012 – Peter M. Robinson, president and CEO of the United States Council for International Business, issued the following statement on last night’s State of the Union Address by President Obama:

We welcome the President’s call for closer international cooperation and expanded trade in support of American jobs and economic growth.  The business community, including the U.S.-based global companies that make up the core of USCIB’s membership, is contributing actively to this cause already through exports, R&D and other measures to increase our competitiveness in fast-growing overseas markets.

We support efforts to enable companies to hire more workers in the United States.  We were encouraged that the President chose to highlight the contributions of both exports and foreign investment to growing our economy and jobs base.  Similarly, it is important to recognize that when U.S-based companies succeed on the world stage, this too is good for U.S. workers, shareholders and communities.

U.S. businesses now operate in a world of highly competitive, multi-country supply chains. Their success serving overseas markets drives employment, R&D and growth at home.  The Administration and Congress must take steps to recognize the benefits of both inbound and outbound investment to our economy, support such investments, and avoid measures that penalize companies seeking to remain competitive in global markets.

We look forward to working with the Administration and Congress on a range of issues the President raised in his address, especially in the areas of trade, including trade with China, tax policy, energy policy and the development of green technologies.

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 at www.uscib.org.

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

Global Banking Survey Reveals Gloomy Outlook for Trade Finance

Published on January 19, 2012

4225_image002

New York, N.Y., January 19, 2012 – New research by the International Chamber of Commerce (ICC) and the International Monetary Fund (IMF) has revealed a pessimistic outlook for demand for trade finance products like letters of credit in 2012, largely as the result of the Euro crisis.

Based upon input from 337 financial institutions responding to a joint ICC-IMF survey, the findings also show a two-speed financial system: For emerging Asia the outlook is the strongest, while the Euro area is the weakest. Results of the survey were released today by the United States Council for International Business (USCIB), ICC’s American affiliate.

Around 60 percent of respondents indicated that the demand for trade in Asia will show improvement in 2012, while close to 50 percent of respondents predicted a further deterioration for the Euro area, USCIB said.

“These results illustrate how far, and how fast, the ripples from the Euro crisis are spreading,” said Michael F. Quinn, managing director with JP Morgan Global Trade and chair of USCIB’s Banking Committee. “The withdrawal of European banks from global trade finance has had a major impact on the ability of companies to arrange for trade finance in many markets, and we expect this to continue into the future.”

Factors contributing to the negative outlook for 2012 were primarily financial constraints that reduce the availability of trade finance. This was particularly acute for large banks and those with business in developing countries. Some 90 percent of respondents indicated that “less credit or liquidity available at counterparty banks” would affect their trade finance activities either to a “large extent” or to “some extent.” This share is substantially higher than the just over 50 percent that noted the same during the 2008-2009 financial crisis.

The financial constraints appeared to reflect the large share of trade finance coming from Euro-area banks. The survey showed that recent European bank deleveraging has led to tighter lending guidelines and reduced availability of credit/liquidity. In addition, U.S. dollar funding for non-U.S. financial institutions may exacerbate the situation, since trade remained largely denominated in U.S. dollars.

Many respondents noted that one of the challenges facing the global economy was a more stringent regulatory environment – as represented by the new Basel III capital framework – which may impede a trade-led recovery. This was of particular concern, as many countries were attempting to export their way out of their currently dire economic conditions. Recent measures taken by multilateral development banks and central banks to facilitate trade were perceived to be of some help. For instance, on the issue of the reactivation of central bank swap lines, close to 60 percent of respondents indicated that the swap lines have helped, but about one fifth were not sure.

Preparation for the implementation of Basel III seems to be already adding pressure on the cost of funds and the availability of liquidity. Close to three-quarters of respondents said they felt impacted either to some or to a large extent. Specifically, by not treating trade finance as a low-risk asset class from a regulatory perspective, the new Basel capital framework could make trade finance less accessible and less affordable to exporters and importers, especially small- and medium-sized enterprises.

In these circumstances, there is an urgent need for durable solutions to be forged at the international level. “The pursuit of essential public finance and regulatory reforms is crucial in 2012 and beyond,” said Kah Chye Tan, global head of trade and working capital at Barclays Corporate in London and chair of ICC’s Banking Commission. “We caution the use of uncoordinated national initiatives and the layering of regulatory requirements which may pressure trade flows and eventually negatively impact on growth worldwide. This new ICC-IMF research calls on standard setters and policymakers to carefully study the potential unforeseen impact of proposed Basel III changes on trade finance.”

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.

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

ICC-IMF trade finance survey results

More on USCIB’s Banking and Trade Finance Committee

Encouraged by GPA Agreement and Russia Accession at WTO Ministerial, Business Pushes for New Approaches to Trade Liberalization

Published on December 17, 2011

4215_image001New York and Geneva, December 17, 2011 – The World Trade Organization approval of a revised government procurement agreement and invitation for Russia to be the newest WTO member were seen as positive steps towards market liberalization by the business community, according to the United States Council for International Business (USCIB), which represents American industry views to international organizations and national governments. USCIB hopes members will follow through on pursuing new approaches for opening markets given the consensus that Doha negotiations have reached an impasse.

“Business has been pushing for an ambitious Doha deal since day one, but we recognize the difficulty faced by WTO members in making the necessary concessions for a balanced package,” said USCIB Senior Vice President Rob Mulligan, who was in Geneva for the ministerial. “We are encouraged, however, that governments are looking seriously at ways to move forward on trade absent a global consensus on Doha. Finding approaches that advance market liberalization will be critical to driving economic growth and job creation.”

In Geneva, governments agreed to update the WTO Government Procurement Agreement (GPA), which encompasses 42 member countries, and encourage non-member countries like China to join. Mr. Mulligan said business was interested in promoting serious discussion of additional plurilateral or other approaches that can move members beyond the current stalemate.

The International Chamber of Commerce (ICC), which USCIB represents in the United States, yesterday issued an open letter to G20 leaders, urging them to consider additional plurilateral trade agreements, saying these could spur economic recovery. ICC also released its latest Open Markets Index, which catalogues restrictions on trade and investment in the major economies. It said support for open trade voiced by G20 countries at the end of their summit in Cannes was not matched by their recent performance, which includes significant new commercial barriers in many countries. More on the ICC initiatives is available at www.iccwbo.org.

USCIB also welcomed final approval of the invitation for Russia to join the WTO, with Mr. Mulligan calling it an important and necessary step in further opening the country to rules-based trade. While in Geneva, Mr. Mulligan met with WTO officials, as well as government and business leaders from other countries, to discuss moving forward on new approaches to opening markets in the WTO.

“We will be taking a close look at the results of the ministerial and, with strong input from USCIB member companies, making recommendations to the U.S. government and the policy community on additional steps business sees as necessary to expand trade and investment through the WTO and other channels,” he said.

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.

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

More on USCIB’s Trade and Investment Committee

Business Welcomes OECD Internet Principles

Published on December 15, 2011

4213_image002New York, N.Y., December 15, 2011 – American companies and the broader global business community welcomed adoption of the 34-nation OECD’s Principles for Internet Policy-Making, which call for a light touch on regulation, saying this is essential to promote economic growth. The United States Council for International Business (USCIB), which represents the views of American companies to the OECD and other international bodies, applauded the OECD Council’s call for member countries to “promote and protect the global free flow of information” online.

“The OECD principles balance two mutually supportive goals: maintaining an open, dynamic Internet that can generate economic growth, and ensuring closer international cooperation on Internet issues,” said USCIB President and CEO Peter M. Robinson. “While the Internet has no borders, and countries should set their own policies and regulations, they must do so judiciously, in cooperation with each other and with the private sector. The OECD has given governments urgently needed guideposts in this area.”

Both USCIB and BIAC, the Business and Industry Advisory Committee to the OECD, which USCIB represents in the United States, have endorsed the OECD principles and sought to promote awareness of them in key international forums. In September, at the UN’s Internet Governance Forum in Nairobi, USCIB representatives underscored the importance of maintaining an open, multi-stakeholder approach to international discussions of the Internet’s development.

Last June in Paris, BIAC members played a central role in an OECD High Level Meeting on the Internet Economy, which highlighted that the strength and dynamism of the Internet depends on its ease of access to high-speed networks, openness and on user confidence. The OECD Council’s adoption of the new principles is based on a communiqué issued at a meeting in June, when their broad outlines were drawn up.

“Born at a U.S.-initiated high-level meeting earlier this year, these principles are a major step in our efforts to ensure the Internet remains an open platform, continuing to spur innovation, prosperity and job creation,” said U.S. Ambassador to the OECD Karen Kornbluh in a statement. “This platform, that produced more growth in its first 15 years than the Industrial Revolution did in its first 50, mustn’t be balkanized. We will work with others to continue building consensus for these global norms that nurture openness and freedom on the Internet.”

The OECD principles are non-binding. However, they will be included in the criteria used to assess the suitability of candidate countries for OECD membership.

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 BIAC, 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, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org.

More on USCIB’s Information, Communications and Technology Committee

USCIB Welcomes Durban Agreement as a Turning Point in UN Framework Convention on Climate Change

Published on December 12, 2011
Maite Nkoana-Mashabane, South Africa’s environment minister and president of the COP17 negotiations, at a post-conference press briefing.
Maite Nkoana-Mashabane, South Africa’s environment minister and president of the COP17 negotiations, at a post-conference press briefing.

New York, N.Y., December 12, 2011 – Defying low expectations and difficult circumstances, the UN Framework Convention on Climate Change’s 17th Conference of the Parties, which concluded yesterday in Durban, South Africa, opens the door to a new international climate framework, with appropriate reductions and other actions from both developed and developing countries, according to the United States Council for International Business (USCIB).  The business group also said the Durban platform would set into operation new institutions for financing, adaptation and technology to address climate change.

“While it will be challenging for all major economies to construct a new international agreement, we look forward to working with governments to seek opportunities for U.S. companies to offer their insight and practical recommendations on implementation in ways that will grow economies, create jobs and advance sustainable development,” stated USCIB President and CEO Peter Robinson.

USCIB, which represents American business in global policy deliberations and works to expand trade and investment, applauded U.S. efforts at COP17 to promote enabling frameworks for technological innovation that protect intellectual property rights protection, and engage the private sector’s expertise and resources, as well as its commitment to advancing transparency and private-sector engagement in the new architecture.

USCIB was represented in Durban by Norine Kennedy, vice president for energy and environment, and executives from a number of member companies.  It highlighted the need for integrated solutions that promote energy access and security, while deploying technologies and market approaches to address climate risks, since U.S. businesses doing business in international markets need long-range predictability and stability to plan, invest and operate.

USCIB has encouraged countries to pursue more deliberative and effective ways to interact with business in the design and implementation of new UNFCCC institutions and measures since Cancun.  USCIB is the U.S. affiliate of the International Chamber of Commerce, which has long served  as the business focal point in the climate negotiations, and also participates in the Major Economies Business Forum (BizMEF), which prepared six position papers for Durban (available by clicking here).

Ms. Kennedy said of the Durban platform:“It seems that governments are coming to face the reality of a world that has changed in many ways since the Kyoto Protocol was signed in 1997.  The challenge now is to set the stage for a long-term agreement that involves all major emitters, engages the public and private sectors, and works with globalized markets, in harmony with trade and investment rules.”

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 at www.uscib.org.

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

More on USCIB’s Environment Committee

USCIB Green Economies Dialogue website

Honored by USCIB, Dow CEO Calls for New Partnership to Rejuvenate U.S. Manufacturing

Published on November 17, 2011
L-R: USCIB President and CEO Peter Robinson, former President Bill Clinton, Dow CEO Andrew Liveris, USCIB Chairman Harold McGraw III.
L-R: USCIB President and CEO Peter Robinson, former President Bill Clinton, Dow CEO Andrew Liveris, USCIB Chairman Harold McGraw III.

New York, N.Y., November 17, 2011 – Andrew Liveris, chairman and chief executive officer of The Dow Chemical Company, was honored for global leadership last night by the United States Council for International Business, a pro-trade group representing America’s top global companies.  At a gala dinner in New York, former President Bill Clinton was among those paying tribute to Mr. Liveris’s support for expanded trade and enhanced U.S. competitiveness.

In remarks accepting USCIB’s International Leadership Award, Mr. Liveris called for stepped-up partnerships between business and government to rejuvenate American manufacturing.

“At a time when international business has never been more dynamic, it is essential for all of us – citizens, businesses and our government – to embrace the new reality that we have to make strategic choices about our future and how we want it to unfold,” Mr. Liveris told hundreds of business executives, government officials and diplomats gathered at the Waldorf-Astoria.  “We must, without hesitation, venture to build bold public-private partnerships that will enable us to achieve the necessary transformation – because we cannot accomplish this alone.”

Mr. Clinton applauded Mr. Liveris’s can-do attitude and his willingness to address political, economic and business challenges head-on.  “I want to congratulate Andrew on receiving the award tonight, he certainly deserves it,” said the former president.  “I have been an admirer of Dow Chemical for a long time.  I am grateful that an American company with an Australian president and two-thirds of its sales overseas has found a competitive way to keep 40 percent of its employees in this country.”

USCIB Chairman Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies, said: “We are thrilled to honor Andrew for his commitment to global business and to reviving the American manufacturing sector as a pathway to job growth and long-term prosperity.  Andrew’s leadership at Dow and on important public policy issues has distinguished him as one of the global business community’s leading voices.”

In his remarks, Mr. McGraw reflected on his experiences attending the recently concluded G20 summit meeting in France, and called for urgent measures by political leaders in the United States and around the world to revive economic growth and job creation.  “It is simply not acceptable that we have almost no growth in the global economy today,” he said.  “We know we can do better.  No one government alone can solve the challenges we face, nor can one business solve these challenges alone.  We need to work together to help restore public confidence.”

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.

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.  More information on the event is available at www.uscibgala.com.

Founded in 1945, 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 at www.uscib.org.

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

More on USCIB’s International Leadership Award Dinner

Dow website