Press Release Archives

Multinationals Welcome Plans for Anti-Counterfeiting Pact

Published on October 23, 2007

BASCAPNew York, N.Y., October 23, 2007 – Plans for a new international agreement to coordinate enforcement efforts to curtail counterfeit goods won a thumbs-up today from representatives of America’s top global companies.  The United States Council for International Business (USCIB), whose members include more than 300 U.S.-based multinational companies and affiliated organizations, said better enforcement was urgently needed to stop an epidemic of intellectual property rights theft.

Representatives of the United States, European Union, Japan and other countries plan to launch negotiations leading to a new multilateral agreement to strengthen common standards for intellectual property rights enforcement.  The governments said they hoped other developed and developing countries committed to intellectual property rights enforcement would quickly sign on to the agreement.

“If successful, this initiative could be a major turning point in the worldwide fight against fake products,” said USCIB President Peter M. Robinson. “Rampant counterfeiting and piracy threaten not just companies’ bottom lines, but also the health and safety of consumers, the competitiveness of national economies and the foundations of our global economy.  There are few more pressing concerns for global companies.”

The proposed International Anti-Counterfeiting Trade Agreement would spell out measures for better international coordination of anti-counterfeiting efforts, put forward agreed best practices for enforcement and align signatories’ legal frameworks to ensure that adequate criminal, civil and border protection measures are in place.

USCIB supports a statement from leaders of the International Chamber of Commerce (ICC) and its BASCAP (Business Action to Stop Counterfeiting and Piracy) initiative, offering to provide business views and expertise to reinforce this new commitment by governments. BASCAP is a global effort to coordinate the business community’s response, across industry segments and across national boundaries, in the fight against counterfeiting and piracy.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes over 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3.5 trillion.  As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

ICC/BASCAP release

More on BASCAP

ICC International Court of Arbitration to Hold Annual Latin America Conference in Miami

Published on October 11, 2007

3750_image002New York, N.Y., October 11, 2007— Back by popular demand, the ICC International Court of Arbitration heads to Miami to hold its annual Latin America conference, November 4-6 at the Ritz-Carlton, South Beach.

The Court is part of the International Chamber of Commerce, the Paris-based world business body in the forefront of cross-border dispute resolution since 1923. The conference is designed to explore current views and developments in international arbitration in Latin America and will focus on the challenges and opportunities of commercial arbitration in the region.

“This is a fantastic opportunity for participants from the Latin American business and legal community, to come together, to learn, to connect and to address the latest trends and issues affecting regional practice,” said Josefa Sicard-Mirabal, ICC’s director for arbitration and ADR for North America. She encourages legal practitioners involved in international arbitration and dispute resolution in Latin America as well as those who do business in the region to attend the event.

Success in international commercial arbitration depends greatly on an understanding of local legal cultures and attitudes.  With this in mind, conference organizers aim to shed light on aspects of arbitration that are particularly relevant to Latin American cases. Topics to be covered include recent developments in ethical considerations relating to international arbitration, evidence, multi-contract arbitration, influence of public law, corporate perspective, and current developments for enforcing arbitration agreements and awards in Latin America.

Established in 1923, the ICC Court pioneered international commercial arbitration.  Last year it handled more than 590 cases involving parties from 125 countries and independent territories.  The ICC Court is comprised of some 124 lawyers and legal experts, drawn from more than 85 countries and territories from around the world, giving it a unique and diverse cultural and legal perspective.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes some 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3 trillion.  As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade. USCIB’s Arbitration Committee serves as the contact point for the ICC International Court of Arbitration and its multi-faceted dispute resolution services.  More information is available at www.uscib.org.

Program for the Miami conference

More on ICC’s Dispute Resolution Services

Pakistan Waives Duties on Temporary Imports

Published on October 2, 2007
Crossing a river in rural Pakistan: the country has crossed an important threshold in joining the ATA Carnet system.
Crossing a river in rural Pakistan: the country has crossed an important threshold in joining the ATA Carnet system.

New York, N.Y., October 2, 2007– Pakistan joined the ATA Carnet system as of October 1.  ATA Carnets, which permit the duty-free and tax-free imports of goods, are an increasingly important tool for businesses engaged in international commerce.

Pakistan’s entry into the system is a strong signal that the country is committed to promoting economic growth and openness, and it represents an opportunity for American business to further tap the South Asian market.

According to the United States Council for International Business (USCIB) which administers the Carnet system in the United States, Pakistan will waive import duties on professional equipment, goods for exhibitions and fairs, and imports for scientific, educational and cultural purposes.

“Pakistan has taken an important step to opening its doors to global business,” said Cynthia Duncan, USCIB’s vice president for Carnet operations. “This measure will enhance the transparency of Pakistan customs and enable greater control of the movement of goods.”

Pakistan-based representatives of the International Chamber of Commerce (ICC), which oversees the system at the global level, called the country’s entry  an important step toward market openness.

“ICC Pakistan advocates the ATA Carnet System as a trade facilitation measure,“ said Tariq Rangoonwala, chairman of ICC Pakistan. “This is a first step in multilateral trade facilitation in Pakistan.”

Often called “merchandise passports,” ATA Carnets are internationally recognized customs documents for temporary duty-free, tax-free import of commercial samples, professional equipment and goods displayed at trade shows.  Companies around the world use them to reduce costs and speed global operations.  (The acronym “ATA” is a combination of the French and English abbreviations for “temporary admission.”)

ATA Carnets will be guaranteed by the Pakistan National Chamber of Commerce and Industry.  The country does not plan to accept Carnets for commercial samples, postal traffic, goods for transit or unaccompanied goods.

Pakistan formally notified the World Customs Organization in June 2004 that it had ratified the Istanbul Convention of 1993, a single international instrument that combines all existing conventions on temporary importation.

Carnets are accepted in over 75 customs territories and can be used for multiple trips during a one-year period.  The global ATA Carnet system is overseen by the Paris-based International Chamber of Commerce.  USCIB administers the Carnet system in the United States, working with service providers Roanoke Trade Services, Inc., and the Corporation for International Business.

In 2006, over 150,000 carnets were issued worldwide, covering goods valued at almost 15 billion dollars.  Iran and Chile were the most recent countries to join before Pakistan, further opening up trade in Asia and Latin America.

USCIB promotes an open system of world commerce.  As American affiliate of the leading international business and employers organizations, including ICC, it provides business views to policy makers and regulatory authorities worldwide.  USCIB facilitates international trade by issuing and guaranteeing ATA Carnets, by promoting international cooperation in such areas as customs policies and commercial dispute resolution, and through its ICC Books USA unit, which publishes a variety of publications on to international trade and investment.

More on USCIB’s ATA Carnet Export Service

Pakistan National Chamber of Commerce and Industry website

USCIB Welcomes China’s Progress on WTO Commitments, but Concerns Remain

Published on September 20, 2007
USCIB addressed its statement on China and the WTO to U.S. Trade Representative Susan Schwab.
USCIB addressed its statement on China and the WTO to U.S. Trade Representative Susan Schwab.

New York, N.Y., September 20, 2007 – China has made significant efforts to meet its obligations under the terms of its accession to the World Trade Organization, but concerns remain on compliance issues, according to a leading industry group.

In its annual review of China’s progress under its WTO accession terms, the United States Council for International Business (USCIB), which represents hundreds of  multinational companies, also praised the U.S. and Chinese governments for working to resolve bilateral trade frictions.

“The U.S.-China relationship is complex and multi-faceted, and our members have a direct and important stake in this engagement,” said USCIB President Peter M. Robinson.  “We believe China is making some progress on its WTO commitments, but still has a way to go on many fronts.  We appreciate that the United States and China are approaching these issues in a spirit of collaboration and partnership.“

The USCIB statement identified a number of areas warranting further efforts by Beijing to ensure full compliance with its WTO accession requirements.  Among these were a continued lack of transparency in rulemaking and in the judiciary, insufficient notice of new or proposed laws, unfair treatment of foreign firms in certain industries, and the continued inadequacy of intellectual property protection in China.

In addition, USCIB called on China to work toward sounder regulations governing such industries as chemicals, postal and express delivery services, and telecommunications.

Mr. Robinson said USCIB would continue to support the work of the joint U.S.-China Joint Commission on Commerce and Trade, as well as the bilateral Strategic Economic Dialogue, slated to reconvene in Beijing this December.

He also pledged active support for ongoing work in the Organization for Economic Cooperation and Development to promote regulatory reform in China and pursue enhanced engagement with the country.  USCIB is the American affiliate of the Business and Industry Advisory Committee to the OECD, which serves as the voice of business in the 30-nation organization.

The USCIB statement was submitted to U.S. Trade Representative, Susan Schwab by Mr. Robinsonand Clarence Kwan, national managing partner of Deloitte & Touche’s Chinese services group and chair of USCIB’s China Committee.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3.5 trillion.  As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

USCIB statement on China’s WTO obligations

More on USCIB’s China Committee

New York Conference Draws Curtain on ICC Court

Published on August 29, 2007

3734_image002New York, N.Y., August 29, 2007 – The ICC International Court of Arbitration, the world’s best-known arbitral institution, returns to New York, to set the stage for its second annual conference on Monday, September 24 at the Hilton New York.

“As a practitioner, I always wondered what happened at the Court,” reflected Josefa-Sicard-Mirabal, ICC’s director of arbitration and ADR for North America. “And, now as director, I decided to draw the curtains on the Court and invite the world to see what happens inside.”

The Court is part of the International Chamber of Commerce, the world business body that has been in the forefront of cross-border dispute resolution since 1923. The conference is designed to explore current views and opinions on the issues of arbitrator independence.

The conference is being presented in cooperation with the United States Council for International Business (USCIB), ICC’s U.S. national committee, which has its headquarters located in New York.

“This is a unique opportunity for participants from the U.S. legal community to experience first-hand what goes on in a plenary court session and to afford an understanding of an actual scrutiny process,” said Ms. Sicard-Mirabal. She said the event is designed to appeal to any legal practitioner involved in international arbitration and dispute resolution – including arbitrators, corporate counsel, magistrates, and transactional lawyers.

The conference will feature a stellar cast of panelists, including former members of the ICC Court and of its Paris-based international secretariat, former and current U.S. secretary generals, leading arbitrators, and professors of law.

“New York is one of the leading centers of arbitration practice in the world, and what better place to set the stage for a mock court session than in the city of Broadway,” said Ms. Sicard-Mirabal. “We believe the front row access to the Court and its members really sets it apart.” She said a highlight of the conference is a first-time opportunity to observe a mock ICC Court plenary session deciding on challenges to arbitrators serving ICC cases. Participants will engage in an interactive dialogue on the issues raised.

Since its founding in 1923, the ICC court has handled over 14,000 cases. In 2006, more than 500 cases were filed, involving parties in over 100 countries and independent territories. The court itself has an exceptionally broad representation, comprising members from 86 countries. Over the years, ICC has developed a full range of other dispute resolution rules in addition to arbitration to meet the latest international commercial challenges.

A brochure and registration form for the workshop is available at:
https://uscib.org/docs/ICC_arb_Sept07_Conf_Brochure.pdf

The United States Council for International Business (USCIB) is ICC’s American national committee. As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade. USCIB’s Arbitration Committee serves as the contact point for the ICC International Court of Arbitration and its multi-faceted dispute resolution services. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, USCIB
jhuneke@uscib.org

USCIB Dispute Resolution Website

More on USCIB’s Arbitration Committee

New York Conference Draws the Curtain on ICC Court

Published on August 29, 2007

3696_image002New York, N.Y., August 29, 2007 – The ICC International Court of Arbitration, the world’s best-known arbitral institution, returns to New York, to set the stage for its second annual conference on Monday, September 24 at the Hilton New York.

“As a practitioner, I always wondered what happened at the Court,” reflected Josefa-Sicard-Mirabal, ICC’s director of arbitration and ADR for North America. “And, now as director, I decided to draw the curtains on the Court and invite the world to see what happens inside.”

The Court is part of the International Chamber of Commerce, the world business body that has been in the forefront of cross-border dispute resolution since 1923. The conference is designed to explore current views and opinions on the issues of arbitrator independence.

The conference is being presented in cooperation with the United States Council for International Business (USCIB), ICC’s U.S. national committee, which has its headquarters located in New York.

“This is a unique opportunity for participants from the U.S. legal community to experience first-hand what goes on in the plenary court session and to afford an understanding of an actual scrutiny process,” said Ms. Sicard-Mirabal. She said the event is designed to appeal to any legal practitioner involved in international arbitration and dispute resolution – including arbitrators, corporate counsel, magistrates, and transactional lawyers.

The conference will feature a stellar cast of panelists, including former members of the ICC Court and of its Paris-based international secretariat, former and current U.S. secretary generals, leading arbitrators, and professors of law.

“New York is one of the leading centers of arbitration practice in the world, and what better place to set the stage for a mock court session than in the city of Broadway,” said Ms. Sicard-Mirabal.  “We believe the front row access to the Court and its members really sets it apart.”  She said a highlight of the conference is a first-time opportunity to observe a mock ICC Court plenary session deciding on challenges to arbitrators serving ICC cases. Participants will engage in an interactive dialogue on the issues raised.

Since its founding in 1923, the ICC court has handled over 14,000 cases.  In 2006, more than 500 cases were filed, involving parties in over 100 countries and independent territories.  The court itself has an exceptionally broad representation, comprising members from 86 countries.  Over the years, ICC has developed a full range of other dispute resolution rules in addition to arbitration to meet the latest international commercial challenges.

A brochure and registration form for the workshop is available at https://uscib.org/docs/ICC_arb_Sept07_Conf_Brochure.pdf.

The United States Council for International Business (USCIB) is ICC’s American national committee.  As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.  USCIB’s Arbitration Committee serves as the contact point for the ICC International Court of Arbitration and its multi-faceted dispute resolution services.  More information is available at www.uscib.org.

Contact:

Amy Lehr, USCIB

(212) 703-5063 or alehr@uscib.org

USCIB Dispute Resolution Website

More on USCIB’s Arbitration Committee

Key Indicator Sees Growth for U.S. and Global Economies

Published on August 21, 2007
3733_image001
Despite sub-prime lending woes in the United States, the global economy’s outlook is strong.

Paris and New York, August 21, 2007 – The global economy is set to expand in the second half of the year in all major regions of the world, according to results of the latest quarterly ICC-Ifo World Economic Survey released today.

The report, conducted by the International Chamber of Commerce and Germany’s Ifo Institute for Economic Research, surveyed over 1,000 economic experts in 91 countries last month, at the same time as a credit crisis touched off by a wave of defaults in U.S. sub-prime mortgages first sparked global jitters.

The Ifo World Climate Index rose to 113.6 this quarter, up a sharp 6.9 points from 106.5 in the previous quarter.

“These results point to a robust world economy in the second half of 2007,” said Hans-Werner Sinn, president of the Ifo Institute, part of the University of Munich.

Headquartered in Paris, ICC is the largest, most representative private-sector association in the world. Its New York-based national committee, the United States Council for International Business (USCIB), works to promote trade and investment worldwide, and disseminates the quarterly ICC-Ifo survey to American business and economic experts.

Economists polled upgraded their expectations for the U.S. economy. U.S. consumer spending is seen stabilizing due to wage growth, and U.S. exports rising due to a strong global economy, keeping in check the fallout from a slowdown in the housing market.

The overall economic climate in Western Europe improved markedly in the recent survey, although growth is seen tempered over the next six months in Spain, the U.K., Ireland, Norway and Denmark. In Asia, economists raised their outlook slightly for the region, with Hong Kong showing the strongest improvement over previsions the previous quarter. The outlook for Japan has also brightened as exports are expected to accelerate due to a weaker yen versus the U.S. dollar, and the outlook for China continues to be favorable.

In Latin America, economists see economic stabilization in the next six months but with large country-by-country variations, with positive growth in the second half seen in Chile and Brazil, while a slowdown is predicted for Argentina and Venezuela. In the Middle East, economists raised their six-month forecast for Turkey but noted the economy in Iran continues to worsen. In South Africa, economists downgraded their six-month outlook due to inflationary pressures and flagging consumer spending.

Except for North America, where inflation is seen remaining at 2.7 percent, experts predict inflation will accelerate to an average of 3.1 percent across all regions of the world besides Australia and New Zealand. In the euro zone, the outlook for inflation increased slightly to 2.1 percent from 2.0 percent. However, inflation in China is expected to rise a full percentage point above the rate in the last survey to 3.7 percent.

A larger number of experts in the current survey said the U.S. dollar is undervalued, although a further weakening of the dollar versus other currencies is expected in the next six months. A majority of economists continue to view the Japanese yen as undervalued. More economists than in the previous survey said the British pound and the euro are overvalued.

Economists hailing from all major regions broadly expect interest rates to rise in the coming six months.

Better data on counterfeiting and piracy needed

Responding to a separate set of questions, most economists surveyed agreed that a comprehensive analysis of the full financial and social impact from counterfeiting and piracy is needed. They also said the problem of counterfeiting and piracy will only be solved when national governments commit adequate resources to strengthen law enforcement and establish effective penalties that deter this criminal activity.

The quarterly Ifo World Economic Survey is conducted in cooperation with ICC and receives financial support from the European Commission. Additional charts and data associated with this latest survey are available at ICC’s website, www.iccwbo.org.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment. Its membership includes some 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3 trillion. As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade. More information is available at www.uscib.org.

Contacts:
Catherine Foster, ICC
Tel +33 1 4953 2822 or cfr@iccwbo.org

Jonathan Huneke, USCIB
+1 212 703 5043 or jhuneke@uscib.org

ICC website

More on USCIB’s Intellectual Property Committee

Companies Assail Tax Bill Punishing Investment in the U.S.

Published on July 26, 2007

New York, N.Y., July 26, 2007 – America’s top global companies have expressed serious concern over proposed legislation, introduced as a potential means of funding the farm bill currently under Congressional consideration, that would discriminate against foreign companies operating in the United States. The proposal would effectively and unfairly raise taxes on foreign based companies which contribute to the U.S. economy and through American jobs and substantial U.S. based operations. It would also do serious damage to the tax treaty network on which U.S. business relies to prevent double taxation and provide certainty in its pursuit of business outside the U.S. The United States Council for International Business (USCIB), which represents U.S.-based multinationals and major exporters, said the measure could serve as an impetus for retaliation against American firms doing business in abroad.

“This bill, if enacted, would clearly violate an array of U.S. tax treaties, invite retaliation overseas, and damage our economy by discriminatorily raising taxes on foreign investment, hampering foreign investment and job creation in the United States,” said USCIB President Peter M. Robinson.

On the heels of introduction by Rep. Lloyd Doggett (D-TX) of the legislation in question, H.R. 3160, yesterday, the Administration appropriately expressed its strong opposition to the proposal in a statement of opposition delivered to Congress. The bill could come up for a vote in the House of Representatives today, without the benefit of the normal hearing process. Its effect would be to force foreign companies to pay higher withholding tax rates than their U.S.-owned counterparts on such payments as royalties, interest and management fees to their foreign affiliates. This would violate many bilateral U.S. tax treaties, which aim to both reduce double taxation and ensure cooperation with foreign tax authorities.

Mr. Robinson urged members of Congress to avoid measures targeting foreign firms specifically. “Such practices are often seized upon by foreign governments as an excuse to restrict market access and investment opportunities by American companies,” he noted. “We are concerned that formal and informal barriers to investment are on the rise in many countries. It is clearly in the interests of the United States, as the world’s largest source of overseas investment and one of the largest hosts for foreign direct investment to maintain a level playing field for foreign firms, to ensure that our own firms are treated fairly.”

Mr. Robinson noted that U.S. subsidiaries of foreign businesses account for more than five million U.S. jobs, supporting annual payrolls of over $300 billion.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment. Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion. As the exclusive American affiliate of three key global business groups – 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. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
+1 212.703.5043 (office), +1 917.420.0039 (mobile) or jhuneke@uscib.org
More on USCIB’s Taxation Committee

USCIB Applauds Signing of Korea Free Trade Pact

Published on June 30, 2007

New York, N.Y., June 30, 2007 – The United States Council for International Business (USCIB), a pro-trade organization representing America’s top global companies, applauded today’s signing of a free trade agreement between the United States and Korea, which it cited as a major milestone in U.S. foreign trade policy.

“This agreement ranks among the most commercially significant America has entered into,” stated USCIB President Peter M. Robinson. “We congratulate our negotiators. They have secured an agreement that has huge potential economic benefits for U.S. business, workers, farmers and consumers.”

The comprehensive U.S. Korea Free Trade Agreement stands to eliminate nearly all tariffs on manufactured goods, and provide substantial new market access opportunities for U.S. services and agricultural exports. It also effectively addresses many non-tariff barriers.

Korea is a trillion-dollar economy and the seventh-largest U.S. trading partner. In 2006, bilateral trade in goods alone amounted to $78 billion, with U.S. exports to Korea totaling $32 billion in goods and $10 billion in services.

Mr. Robinson called upon Congress to ratify the agreement as soon as possible to maximize its benefits. He also expressed his hope that it would provide a spur to additional market opening trade agreements at the bilateral and multilateral levels.

USCIB promotes an open system of global commerce. Its membership includes some 300 leading U.S. companies, professional service firms and associations. As the American affiliate of three global business bodies – 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.

Contact:
Rob Mulligan
(202) 682-7375 or rmulligan@uscib.org

More on USCIB’s Trade and Investment Committee

U.S. Trade Representative’s office fact sheet on the U.S.-Korea FTA

USCIB Response to Doha Setback in Potsdam

Published on June 21, 2007

New York, N.Y., June 21, 2007 – The president of the United States Council for International Business, Peter M. Robinson, issued the following statement today in response to news of the breakup of the G4 (Brazil, India, EU, U.S.) meeting in Potsdam, Germany on the WTO Doha Round:

“USCIB calls on governments to quickly revisit their positions and find the political will to overcome the lack of progress at the Potsdam G4 meeting.

“The defining moment of the Doha Round is now. The outlines of a balanced agreement are clearly visible. But unless this setback is rapidly reversed, there will be no time to conclude an agreement by the end of this year, before the U.S. becomes politically locked up in its 2008 election campaigns.

“USCIB remains committed, as a matter of top priority, to achieving substantial new trade liberalization in industrial goods, services and agriculture products in the Round.

“The Doha Round is the best opportunity to boost economic growth and development, not just for the United States, but also for all WTO members. Governments must not fail to seize it.

“USCIB strongly supports the leadership efforts of the U.S. negotiators and appreciates their willingness to show flexibility. Clearly, all governments must find more flexibility, and do it now, to prevent a failure of this Round.”

Mr. Robinson also expressed full support for the statement issued by International Chamber of Commerce Chairman Marcus Wallenberg. The ICC statement is available at http://www.iccwbo.org/iccbefeg/index.html.

About USCIB

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment. Its membership includes some 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3 trillion. As American affiliate of the leading international business and employers organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP of Communications, USCIB
+1 212 703 5043 or jhuneke@uscib.org