Press Release Archives

McGraw-Hill CEO to Be Honored by Global Business Group

Published on October 24, 2006

New York, N.Y., October 24, 2006 – Harold McGraw III, chairman, president and chief executive officer of The McGraw-Hill Companies, a leading global information services provider, is to be honored with a leading pro-trade group’s top award for his work to promote international trade and to ensure America’s leadership in the global economy.  The United States Council for International Business (USCIB) will present Mr. McGraw with its International Leadership Award at its December 4 annual dinner at the Hudson Theatre in New York City.

“Terry McGraw is precisely the type of business statesman the International Leadership Award was created for,” said USCIB Chairman William G. Parrett, chief executive officer of Deloitte. “His staunch and far-sighted advocacy of open markets around the world, coupled with his leadership of one of America’s most successful global companies, serve as a model for other executives.”

Each year since 1980, USCIB has honored a senior business executive for significant policy leadership in improving the global competitive framework for American business.  Recent recipients of the International Leadership Award include Lee R. Raymond of ExxonMobil, Jean-René Fourtou of Vivendi Universal, Charles O. Holliday, Jr. of DuPont and George David of United Technologies.  More information on the event is available at www.uscibgala.com.

In 1998, Mr. McGraw became chief executive officer of The McGraw-Hill Companies, which includes such leading brands as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates, and was elected chairman of the company the following year.  He has been a member of company’s board of directors since 1987.  During his tenure, he has led a transformation of the company, consolidating 15 diverse units into three focused business segments, each one a market leader.  Mr. McGraw is chairman of Business Roundtable as well as the Emergency Committee for American Trade.  He serves on the Board of Directors of United Technologies and ConocoPhillips, and is a member of the Business Council.

Founded in 1945, 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 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3 trillion.  As American affiliate of several leading global business groups, 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
(212) 703-5043 or jhuneke@uscib.org

Terry A. Cullum of General Motors to Lead USCIB Work on Environment

Published on October 13, 2006
GM’s Terry A. Cullum.
GM’s Terry A. Cullum.

New York, N.Y., October 13, 2006 – The United States Council for International Business (USCIB), a leading pro-trade group, announced today that Terry A. Cullum, director for corporate responsibility and environment & energy with General Motors Public Policy Center, has been named the chair of USCIB’s Environment Committee.

“We are delighted that Terry Cullum has agreed to lead USCIB’s dynamic environmental affairs activities,” said USCIB President Peter M. Robinson. “Working with a team of dedicated members and staff professionals, we look forward to continuing to help business play a major role in international environmental policy discussions.”

USCIB’s Environment Committee promotes appropriate environmental protection within an open trade and investment system, and advances environmental protection and economic development as fundamental to sustainable development. As chair of the USCIB committee, Mr. Cullum succeeds George Carpenter, director for global sustainable development with Procter & Gamble, who retired at the end of September.

“We are very grateful to George Carpenter, who has helped define the whole idea of corporate sustainability, for his outstanding work on behalf of U.S. business in promoting greater awareness of environmental matters and of the many efforts by companies to improve environmental performance,” said Mr. Robinson.

Mr. Cullum began his career in General Motors’ Cadillac division as a project engineer. He held positions dealing with selection of materials, validation testing, and specification development before joining the corporate environmental staff in 1994. He received his Bachelor of Science degree from the University of Michigan. Mr. Cullum is a member of the Society of Automotive Engineers and serves on a number of academic advisory boards.

General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries.

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.

Contact:
Noreen Kennedy, Vice President, Environmental Affairs, USCIB
(212) 703-5052 or nkennedy@uscib.org

More on USCIB’s Environment Committee

ICC website

GM website

Business Urges Senate Not to Block OECD Funding

Published on October 11, 2006
Senator Orrin Hatch (R.-Utah) addressing an OECD tax conference in Washington earlier this year – the organization’s work on international tax policy has been repeatedly mischaracterized.
Senator Orrin Hatch (R.-Utah) addressing an OECD tax conference in Washington earlier this year – the organization’s work on international tax policy has been repeatedly mischaracterized.

New York, N.Y., October 11, 2006 – America’s top global companies have again urged Congress not to withhold funding for the Organization for Economic Cooperation and Development due to a misunderstanding over the nature of the 30-nation body’s work to coordinate international tax policies.

In a letter to all the members of the Senate, the United States Council for International Business (USCIB) expressed concern about language in Section 577 of H.R. 5522, the Fiscal Year 2007 appropriations for Foreign Operations, Export Financing, and Related Programs. The language would prohibit funding of activities undertaken by the OECD that are “designed to hinder the flow of capital and jobs from high-tax jurisdictions to low-tax jurisdictions or to infringe on the sovereign right of jurisdictions to determine their own domestic policies.”

USCIB said it “strongly disagrees with the thrust and implications of this language and believes that its inclusion in the bill is unwarranted and inadvisable.” The letter was signed by Peter M. Robinson, president of USCIB, and Michael P. Reilly, chair of USCIB’s Taxation Committee.

From time to time, similar language mischaracterizing the work of the OECD has found its way into pending legislation. USCIB has reminded members of Congress on several previous occasions of the valuable work being done by the OECD, both in coordinating tax policies and in other areas critical to U.S. competitiveness.

“Section 577 reflects charges by certain critics of the OECD that have been made repeatedly in recent years and that rely on misunderstanding and mischaracterization of the nature and utility of the OECD and its work,” the USCIB letter stated. Specifically, these critics have sought to portray an OECD effort, aimed at curtailing the abuse of overseas bank secrecy laws by criminal and terrorist groups, as an attempt to encourage ”tax harmonization” and the elimination of tax incentives for investment. “This charge is without factual basis,” USCIB said.

The 30-nation OECD seeks to promote growth through coordination of economic and regulatory policies between its members, all of which are democratic market economies. USCIB serves as the American affiliate of the Business and Industry Advisory Committee (BIAC) to the OECD, a group that provides the official business voice on OECD matters.

For the past few years, USCIB has joined with the OECD and BIAC to hold an annual conference in Washington, D.C., most recently this past June, explaining the OECD’s role in international taxation policy and the importance of engagement by the business community in the OECD process.

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 BIAC, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

Contact:
Carol Doran Klein
202.682.7376or cdklein@uscib.org

USCIB letter to the Senate on H.R. 5522

More on the OECD’s work on taxation (OECD website)

More on USCIB’s Taxation Committee

Terry A. Cullum of General Motors to Lead USCIB Work on Environment

Published on October 5, 2006

New York, N.Y., October 5, 2006 – The United States Council for International Business (USCIB), a leading pro-trade group, announced today that Terry A. Cullum, director for corporate responsibility and environment & energy with General Motors Public Policy Center, has been named the chair of USCIB’s Environment Committee.

“We are delighted that Terry Cullum has agreed to lead USCIB’s dynamic environmental affairs activities,” said USCIB President Peter M. Robinson.  “Working with a team of dedicated members and staff professionals, we look forward to continuing to help business play a major role in international environmental policy discussions.”

USCIB’s Environment Committee promotes appropriate environmental protection within an open trade and investment system, and advances environmental protection and economic development as fundamental to sustainable development.  As chair of the USCIB committee, Mr. Cullum succeeds George Carpenter, director for global sustainable development with Procter & Gamble, who retired at the end of September.

“We are very grateful to George Carpenter, who has helped define the whole idea of corporate sustainability, for his outstanding work on behalf of U.S. business in promoting greater awareness of environmental matters and of the many efforts by companies to improve environmental performance,” said Mr. Robinson.

Mr. Cullum began his career in General Motors’ Cadillac division as a project engineer.  He held positions dealing with selection of materials, validation testing, and specification development before joining the corporate environmental staff in 1994.  He received his Bachelor of Science degree from the University of Michigan.  Mr. Cullum is a member of the Society of Automotive Engineers and serves on a number of academic advisory boards.

General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years.  Founded in 1908, GM today employs about 327,000 people around the world.  With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries.

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.

Contact:
Norine Kennedy, Vice President, Environmental Affairs, USCIB
(212) 703-5052 or nkennedy@uscib.org

 

More on USCIB’s Environment Committee

ICC Website

New Ethical Code Guides Marketing and Advertising Worldwide

Published on September 28, 2006
The newly consolidated ICC code sets high standards for marketers.
The newly consolidated ICC code sets high standards for marketers.

Paris and New York, September 28, 2006 – To address new ethical challenges brought on by a rapidly changing media landscape, the International Chamber of Commerce (ICC) today published a consolidated and expanded version of its advertising and marketing codes.

Increasing consumer demand and use of new technologies has dramatically changed the way marketers interact with consumers. The new ICC code illustrates the recognition by companies that this fast-evolving media era requires the ethical rules and practices for traditional media be updated for the new media.

This is the eighth revision of the ICC International Code of Advertising Practice, which was first issued in 1937. The new consolidated code extends the scope from advertising to marketing communications and brings together guidelines for a range of marketing practices – from advertising on the Internet and via text messaging to the do’s and don’ts of communicating with children.

“We want companies to embrace this updated code of marketing communications in order to better serve their publics,” said John F. Manfredi, chairman of ICC’s Commission on Marketing and Advertising. “Consumers want to know that advertising in all mediums is honest and truthful, that it won’t deceive and mislead them. They also want to know the personal information they give companies will be properly protected. This Code provides that assurance from the hundreds of thousands of businesses around the world that abide by its precepts.”

With more than 8,000 member companies in over 140 countries, the Paris-based ICC is the largest, most representative private sector association in the world. It is represented in the United States by the United States Council for International Business (USCIB), its American national committee based in New York.

The ICC Code sets a high ethical hurdle that is well beyond legal requirements. For example, the code specifies that any scientific claims in an advertisement must be backed by unequivocal research and data made available for review, that marketers must safeguard personal information and discard it after a limited time, and that commercials aimed at young people never exploit their inexperience.

The code includes new chapters on electronic media, the telephone and green advertising claims, plus an expanded section on advertising to children.

The ICC Code was revised by a global task force of experts from ICC member companies, co-chaired by Anders Stenlund, director and senior policy manager of the Confederation of Swedish Enterprise in Stockholm, and Oliver Gray, director general of the European Advertising Standards Alliance in Brussels.

“The ICC Code is the long-standing, global ethical platform for the advertising industry,” said Mr. Stenlund. “This new, streamlined version is designed as a practical tool and should be a daily reference for all concerned with marketing communications.”

Mr. Manfredi, who has chaired ICC’s marketing commission for 15 years, has served as a senior executive for several of the leading consumer products companies of the world, including Procter & Gamble, Gillette, Kraft, Nabisco and General Foods. He noted that the ICC Code is one element of an extensive system of regulation that includes a global process of enforcement.

Around the world, code enforcement agencies review tens of thousands of cases annually involving violations that are corrected and businesses that are sanctioned. The number of cases handled by the code enforcement agencies far exceeds those brought by government regulators in many countries.

In the U.S., the Federal Trade Commission brought more than 80 advertising cases before federal district courts in 2004. Code enforcers, such as the National Advertising Division and local chapters of the Better Business Bureau, reviewed over 12,000 cases that same year.

“ICC’s Code is an important new tool that will further enhance the effectiveness of industry self-regulation as an indispensable complement to government regulation,” said Mr. Gray.

The ICC Code is being introduced with a worldwide education effort that involves seminars, workshops and a range of print materials.

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.

Contact:
Jonathan Huneke, VP of Communications and Public Affairs
jhuneke@uscib.org or 212-703-5043

 

More information on the ICC Code

More on USCIB’s Marketing and Advertising Committee

Business Groups Plead for Senate to Reject Punitive Tariffs on China

Published on September 22, 2006
Senators Lindsay Graham (R-S.C. ) and Charles Schumer (D-N.Y.) have proposed massive tariffs on Chinese imports. (Photo: VOA)
Senators Lindsay Graham (R-S.C. ) and Charles Schumer (D-N.Y.) have proposed massive tariffs on Chinese imports. (Photo: VOA)

New York, N.Y., September 22, 2006 – Anticipating a possible Senate vote on controversial legislation that would slap tariffs of 27.5 percent on all imports from China, the United States Council for International Business has joined a broad range of trade groups in urging the Senate to reject the bill.

In a letter delivered to the Senate yesterday, the groups expressed their strong opposition to S. 295, the Schumer-Graham bill, which would impose the tariffs if China refused to adjust its currency’s exchange rate against the U.S. dollar.

“Concerns with the exchange rate between China’s currency and the dollar cannot be resolved through arbitrary tariffs that violate the rules of the World Trade Organization and could destabilize the U.S. and global economies,” the letter stated. “Imposing a massive tax on an estimated $200 billion of American purchases will likely result in similarly significant retaliatory measures being taken against U.S. exports to China, thereby undermining, not enhancing, U.S. competitiveness.”

The legislation would also negatively impact American consumers and drive up production costs for U.S. companies, the letter said.

The groups said Senate passage of the Schumer-Graham bill “would derail the progress that has been made to date on China’s exchange rate policies and on broader financial sector reforms that are the essential element of a long-term solution, as well as the many other issues on which the U.S. government is seeking progress.” They also warned of negative reactions from other trading partners, saying the passage would represent a renunciation by the United States of its obligations under World Trade Organization rules.

USCIB also recently released a comprehensive statement on Chinese trade and investment practices in the context of its membership in the World Trade Organization, saying China and the United States have made progress toward resolving many key sources of bilateral commercial friction, but that China needs to work toward fully meeting its responsibilities under the WTO.

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, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

Business letter to the Senate on the Schumer-Graham bill

USCIB statement on China’s WTO Obligations

More on USCIB’s China Committee

U.S. Business Urges Revision of European Chemicals Guidelines

Published on September 13, 2006
Proposed EU chemicals legislation could impact downstream users as well as importers.
Proposed EU chemicals legislation could impact downstream users as well as importers.

New York, N.Y., September 13, 2006 – The United States Council for International Business, which represents America’s top global companies, has voiced concern to European Union authorities over proposed implementation guidelines for EU legislation, known as REACH, to regulate over 30,000 chemicals and products made from them.

REACH, which stands for “registration, evaluation, and authorization of chemicals,” is slated to undergo its second reading in the European parliament this fall. As currently drafted, the proposed legislation would affect downstream users and importers as well as chemical manufacturers.

USCIB submitted comments on a draft REACH implementation project or (known as RIP 3.8) that sets out guidance for manufacturers in the implementation of the draft chemicals legislation. It said its comments aimed to help contribute to the workability of rules laying out the obligations under REACH for industries that use chemicals in the manufacture of their products.

“The workability and proportionality of REACH has been raised as a top priority by both the European Commission and Council,” said Andrea Fava, USCIB’s manager of environmental affairs. “However, we are concerned that these guidelines are neither workable nor proportionate.”

USCIB recommended the revision of the proposed guidelines, saying its members are concerned about the workability of the draft from both the compliance and enforcement perspectives. USCIB has also expressed concern that the guidelines go beyond the scope of the draft chemicals legislation.

“We urge that further input be considered and that the guidance for articles be revised to ensure it is consistent with the intent of the draft REACH legislation,” said the USCIB statement.

In 2003 and 2004, USCIB submitted comments to the European Commission on the economic and environmental impact of the REACH proposal. Since then the EU has undertaken an extensive revision of the proposed legislation and is now pushing to finalize REACH in the near future.

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 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3 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.

Contact:
Helen Medina
(212) 703-5047 or hmedina@uscib.org

USCIB comments on on REACH Implementation Project 3.8

More on USCIB’s Environmental Committee

Economists Foresee Slight Slowdown in World Growth

Published on August 22, 2006

Business role in Internet governance also seen as necessary

Paris and New York, August 22, 2006 – After two years of robust economic growth, prospects for the global economy dimmed slightly in the third quarter, an about-face from more than a year of rosy forecasts, according to the latest World Economic Survey by CESifo and the International Chamber of Commerce, released today.

More than 1,000 experts from 91 countries took part in the survey, among them corporate economists from multinational companies, academic economists and chamber of commerce executives.

With more than 8,000 member companies in over 140 countries, the Paris-based ICC is the largest, most representative private sector association in the world. It is represented in the United States by the United States Council for International Business (USCIB), its American national committee based in New York.

This slight tempering in expectations for business activity was seen in assessments for the world economic climate and predictions for the next six months. The Ifo index fell to 105.6 from 111.0 the previous quarter, while prospects for the coming six months dropped to 96.5 from 108.8 previously. However, assessments of the current economic situation continued to improve, registering 115.1 for the third quarter versus 113.2 in the second quarter.

“The present trend was set in motion in the second quarter. While the economy was still seen as favorable, expectations were starting to wane amid downward pressures brought on by steeply rising oil prices,” said Gebhard Flaig, executive board member of the Ifo Institute for Economic Research.

“The latest results indicate the world economy is approaching a cooling-down phase of the growth cycle,” he added.

The sharpest falloff in expectations was registered in North America, where the world economic climate index dropped to 98.0 from 114.8, whereas views of the current economic environment edged up slightly. The survey indicated the U.S. would grow at a slower but more sustainable pace but would see a rise in inflation. For Asia, prospects for the economic climate deteriorated somewhat for the second quarter in a row.

In Europe, economists remained equally optimistic about the economic climate. “In almost all euro-area countries, the same pattern in business sentiment could be observed: assessments of the present economic situation improved, but economic expectations have been downgraded,” the survey said. Only the U.K. bucks this trend with steady improvement seen currently and six months ahead.

As high prices for energy and raw materials feed through the world economy, experts see inflation inching up to 3.5 percent from 3.1 percent in the last quarterly survey. Inflation in the U.S. is seen slightly above 3 percent for the second year in a row. In the euro area, inflation is expected to remain moderate at 2.2 percent. In Asia, inflation is seen inching up slightly to 2.9 percent.

The U.S. dollar is viewed as fairly valued, while the euro and the British pound are considered overvalued. For the third quarter in a row, the Japanese yen is seen as undervalued.

Short-term interest rates worldwide are expected to rise in the second half of the year except in Russia, Indonesia and Brazil. The increase in long-term rates is expected to be muted in most countries.

Views on how the Internet should be governed

A growing debate is emerging in government, policymaking, civil society and business circles concerning how the Internet should be governed. To foster dialogue among these stakeholder groups, the United Nations has established the Internet Governance Forum, which will convene in Athens in October. To date, the Internet Corporation for Assigned Names and Numbers, an international non-profit, has been largely responsible for managing many of the important technical functions of the Internet.

A special question in the survey asked respondents who should govern global Internet network-business (a global multi-stakeholder forum) or governments and queried how concerned respondents are about recent attempts by intergovernmental-organizations to get involved in the technical management of the Internet. A second question was aimed at determining how great a role business should play in shaping future policies affecting how the Internet is governed.

Experts in most countries said business should play an active role in these processes. Respondents expressed a desire for an especially strong role for business in the UK, Norway, New Zealand, Peru, Paraguay, Costa Rica, India, Nigeria, Zimbabwe and Kazakhstan.

A large share – 35 percent of the economists surveyed – voiced strong concerns over the involvement of intergovernmental organizations in the Internet, notably in China, Zimbabwe, Mexico and Nigeria.

A higher degree of confidence in a possible role for intergovernmental organizations was expressed by some economists in Europe, Latin America, Russia, New Zealand and the United Arab Emirates. At the same time, 44 percent of the U.S. respondents said a stronger role of the U.S. government in regulating the Internet would be welcome.

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.

Contacts:

Elizabeth Thomas-Reynaud, Communications and Media Relations Officer, ICC
+ 33 1 49 53 28 22 or etd@iccwbo.org

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

View World Economic Survey graphs for Asia, Europe, Western Europe and North America(ICC website)

View a regional breakdown of responses to the Internet governance questions (ICC website)

New editor takes over ICC corporate governance website

Published on June 11, 2003

Paris, June 11, 2003 – ICC’s Corporate Governance website moved into top gear today with up-to-the-minute coverage of developments of vital interest to companies across the world.

Stories include moves by the European Commission to set new rules billed as “a model for the rest of the world” as well as a report from New Delhi about controversial new government proposals to strengthen the role of independent directors.

Also on the site is an account of the implications for Australian companies of new disclosure rules introduced by the Australian stock exchange and a report under a London dateline about heightened public interest in boardroom pay – and the repercussions for companies.

With more than 8,000 member companies in over 140 countries, ICC is the largest, most representative private sector association in the world. It is represented in the U.S. by the United States Council for International Business (USCIB), its American national committee based in New York.

From Manila comes a story on efforts by the Asian Development Bank and the OECD to bring about swift improvements in corporate governance across Asia. An OECD White Paper just issued maintains that the most serious corporate governance challenge facing the Asian region is the “exploitation of non-controlling shareholders”.

The ICC Corporate Governance website was introduced a year ago with a mission to assist companies, and especially small and medium-sized enterprises, in achieving the highest standards of corporate governance. At the same time, it seeks to keep abreast of relevant government and private sector initiatives.

Taking over as the site’s editor is Australian writer and broadcaster Colin Chapman, a former Director of Television for the Financial Times. In the last 18 months, Mr Chapman has been course director on financial and political reporting for the Commonwealth Press Union, the British Council, and USIS. He has also acted as a visiting lecturer at the University of Beijing, where among other subjects he lectured on corporate governance.

Julian Kassum, site manager, said: “The site takes a strong ‘how to’ approach and will be especially useful to companies that are overhauling their corporate governance provisions.”

One of the big issues that will shortly be analysed in a full-length feature is whistle-blowing, and safeguards for employees who draw attention to irregularities.

USCIB promotes an open system of global commerce. Its membership includes some 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3 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.

Contacts:
Bryce Corbett, ICC Communications
(011-33-6) 20-47-32-52 or bryce.corbett@iccwbo.org

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

The ICC Corporate Governance Website

More on USCIB’s Financial Services Committee 

Hong Kong Businessman Elected ICC Vice Chair

Li & Fung Group’s Victor Fung
Li & Fung Group’s
Victor Fung

New York and New Delhi, December 1, 2006 – The International Chamber of Commerce (ICC) today elected Hong Kong businessman Victor Fung as its new vice chair. Mr. Fung was voted in by the ICC World Council, which brought together more than 100 of its business members from some 44 countries for a meeting in India this week.

Mr. Fung, who is Chairman of Li & Fung Group of companies, will begin his two-year term with ICC on January 1, 2007. He will also serve on the Executive Board of the organization alongside ICC Chairman Marcus Wallenberg and ICC Honorary Chairman Jean-René Fourtou.

Headquartered in Paris, ICC is the largest, most representative business organization in the world. Its thousands of member companies in over 130 countries have interests spanning every sector of private enterprise. The United States Council for International Business (USCIB), based in New York, serves as ICC’s American national committee.

Co-chair of the Swiss-based Evian Group and chair of the Hong Kong-Japan Business Cooperation Committee, Mr. Fung holds a number of civic and professional appointments and has written and spoken widely on international trade matters. A strong advocate of the multilateral trading system, he has served as chair of the Hong Kong Trade Development Council, as the Hong Kong representative on the APEC Business Advisory Council, and as a member of the Informal Business Advisory Body to the World Trade Organization.

“With the Doha Trade round suspended and bilateral deals on the rise, there has never been a greater need for world business to speak loudly and forcefully in favor of the multilateral trading system,” said Mr. Fung.

“I intend to reinforce this message during my term, and to work on raising ICC’s visibility in the Asia Pacific region,” he said.

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.

Contact:

Dawn Chardonnal, Communications and Media Relations Manager, ICC

+33 1 49 53 29 07 or dcl@iccwbo.org

Mr. Fung’s full bio

More on ICC