ICC Archives

Global Business Calls on G20 to Deliver on Growth and Employment

Published on November 16, 2015

g20Business has called on world leaders gathering in Antalya, Turkey for the 2015 G20 Summit to commit to a four-point agenda to revitalize GDP growth and kick-start job creation across the world’s largest economies. USCIB members contributed to ongoing work by the International Chamber of Commerce (ICC), the International Organization of Employers (IOE) and the Business & Industry Advisory Committee to the OECD (BIAC) to inform the G20 process.

World leaders arrive in Antalya with the global economy at an apparent crossroads: GDP growth remains sluggish and youth unemployment stands at a record global average of over 13 percent. Worryingly, trade flows, which have historically been an important driver of growth and job creation, recorded an unanticipated 6 percent drop through the first half of this year.

Against this backdrop, CEOs from the ICC-led B20 International Business Advisory Council have outlined four key areas for urgent action:

  1. Ratify and implement the World Trade Organization’s Trade Facilitation Agreement (TFA)
  2. Take concrete actions to create more opportunities for women and young people in the labor market
  3. Establish country-specific infrastructure strategies to boost investment in much needed infrastructure projects worldwide
  4. Improve SME access to finance

ICC has responded to the release of the G20 Leaders’ communiqué at the conclusion of the summit. Read more on the ICC’s website.

Addressing the G20 heads of state and government on Sunday BIAC Chairman Phil O’ Reilly called for structural reforms for dynamic and inclusive labor markets.

O’Reilly underlined the “pressing need” for the G20 heads of state and government to adopt predictable and productivity-enhancing structural policies, both in product and labor markets.

“What we are really talking about are policies that promote open and competitive markets for investment and trade, access to finance, a predictable regulatory environment, flexible labor markets and measures to support innovation and entrepreneurship,” said O’Reilly. He noted overriding need for business confidence to be strengthened in order for investment to flow.

With a focus on policies for job creation, O’Reilly identified the key areas the G20 Leaders had to address to stimulate private sector employment. Measures included removing barriers to starting, operating and growing a business; creating easy-to-understand, employment-friendly labor laws; promoting a variety of forms of employment to allow maximum opportunities for hiring; decreasing the burden of non-wage labor costs and creating an attractive regulatory framework for apprenticeship systems.

As the world looks ahead to the G20 presidency transferring to China for 2016, there was a clear message from the B20 that the Leaders could not take a business as usual approach to employment policy: “A sense of urgency must now underpin the implementation of the previous commitments of G20 governments,” O’Reilly concluded.

ICC and BIAC Families and Staff Safe After Terrorists Attack Paris

Published on November 16, 2015

Paris_peaceUSCIB is relieved to report that all Paris-based staff and their families at the International Chamber of Commerce and at the Business and Industry Advisory Committee to the OECD are safe and no USCIB staff were in the city at the time of the attacks.

Our thoughts and prayers are with the victims and families affected by the horrific series of attacks that took place in Paris last Friday and we echo what John Danilovich, ICC’s secretary general wrote on Friday, “We are united in our profound sadness and grief following the attacks.”

On Monday at the OECD and BIAC, staff observed a minute of silence for the victims and their families and friends. “It is important for us to know that we all stand together in these difficult times,” said Bernard Welschke, BIAC secretary general, in a note to members on Monday.

Francois Georges, secretary general of ICC France responded to USCIB President Peter Robinson’s note of concern with “Such a dramatic tragedy and event gives a lot of sense to ICC Founders’ message when they called themselves ‘Merchants of Peace’. It is more than ever relevant.”

ICC’s Banking Commission meetings that were originally scheduled for this week have been cancelled. At the time we posted this story, all the United Nations COP21 meetings are still scheduled to take place in Paris from November 30 to December 11.

Our hearts are with Paris in these difficult times.

ICC Calls for Collaboration to Tackle Climate Challenge

Published on November 16, 2015

 

ICC Secretary General John Danilovich at the G20 Summit in Antalya, Turkey
ICC Secretary General John Danilovich at the G20 Summit in Antalya, Turkey

With less than two weeks to go to the United Nations Conference on climate change (COP21) and the conclusion of the G20 last weekend, the International Chamber of Commerce (ICC) continues to engage its network in more than 130 countries to advocate for a climate deal that engages business to fully address the climate challenge.

“ICC has underscored the need for the G20 to show leadership in engaging and collaborating with the private sector in an unprecedented way to tackle the climate challenge,” said Kersten-Karl Barth, chair of the ICC commission on the environment and energy.

As energy investment is expected to be the largest single area of overall infrastructure investment over the coming decades requiring $1-2 trillion per year over the coming decades, engagement of the private sector will be critical.

As the lead business representative to the UN climate talks, ICC supports an ambitious global agreement which works with business to speed emissions reductions and build climate resilience.

Invited by French Foreign Affairs Minister Laurent Fabius to speak on behalf of business and industry NGOs at the pre-COP meeting involving in Paris last Sunday, ICC Secretary General John Danilovich said: “Businesses are already innovating to develop the technological, organizational and financial solutions needed to reduce greenhouse gas emissions and to adapt to changing climate patterns.

“But to scale up these solutions we need enhanced collaboration between business, and more importantly, between the public and private sectors.”

Danilovich led a business delegation at the G20 Summit in Antalya, Turkey in what was an important staging post ahead of COP21.

Norine Kennedy, USCIB’s vice president for strategic international engagement, energy and environment, attended the pre-COP and the Bonn negotiating sessions.

ICC national committees all over the world will also be promoting an ambitious global climate agreement which works with business with a series of events throughout the month of November:

Digital Economy’s Driving Role in Meeting the 2030 Development Agenda

Published on October 30, 2015
L-R: Raul Echeberra (Internet Society), Jacqueline Ruff (Verizon), Robert Pepper (Cisco), Ellen Blackler (Disney) and Elizabeth Thomas-Raynaud (ICC)
L-R: Raul Echeberra (Internet Society), Jacqueline Ruff (Verizon), Robert Pepper (Cisco), Ellen Blackler (Disney) and Elizabeth Thomas-Raynaud (ICC)

On October 21 in New York, the International Chamber of Commerce, jointly with the South Korean Mission to the United Nations, and the UN Commission on International Trade Law (UNCITRAL), held a forum for some 100 UN delegates, legal experts and business executives to examine e-commerce in the context of the 2030 Agenda for Sustainable Development. The event, which featured a number of USCIB members, aimed to enhance awareness of the significance of the digital economy and dispute resolution, especially in the context of the 2030 Sustainable Development Agenda.

Featuring opening remarks by Oh Joon, South Korea’s permanent representative to the UN, and Miguel de Serpa Soares, UN under secretary general and legal counsel, panel sessions focused on how to maximize the potential of the digital economy to advance the SDGs, as well as emerging legal and economic issues affecting e-commerce.

While in New York, representatives of ICC’s BASIS (Business Action to Support the Information Society) initiative spoke at an October 19-22 UN stakeholder consultation in New York on the review of the World Summit on the Information Society (WSIS). They shared the priorities for global business in ensuring that the Internet and ICT innovation can deliver on their potential to drive sustainable economic and social development.

December 2015 marks the 10th anniversary of the WSIS, which aimed to bridge the global digital divide by improving access to the Internet and its benefits in the developing world. ICC BASIS and its cross-sector membership of businesses and associations from around the world were active contributors both during the WSIS Summits which took place in Geneva (2003) and Tunis (2005) and in post-WSIS processes and forums.

Read more on ICC’s website.

ICC Launches Climate Website on the Road to COP21

Published on October 14, 2015

cop21_slider_sourceIn less than 50 days, over 40,000 participants will converge in Paris to conclude talks on a new global climate agreement. As the business focal point for the United Nations climate talks and the landmark Paris Climate Conference (COP21), the International Chamber of Commerce (ICC) has launched a one-stop website to mobilize business in the run up to and during the two-week conference.

Launched during Climate Week, the dynamic website provides overviews of and access to global business positions and recommendations. The website’s newsroom will help visitors keep pace with developments, providing easy access to the latest climate policy news, ICC press releases, speeches, videos and infographics.

The user-friendly ‘Road to COP21′ website also provides a comprehensive overview of the range of briefings and events hosted by ICC and partners during COP21. These include the official COP21 Business Day on December 4 and the International New York Times’ Energy for Tomorrow 2015 conference on December 8.

“The COP21 website is ICC’s response to the need for bespoke support services for member companies of the world business organization,” said ICC Secretary General John Danilovich. “Our aim is to ensure that everything business needs to navigate COP21 is just a click away.”

Visit cop21.iccwbo.org

Groundbreaking ICC Academy Goes Live

Published on October 13, 2015

The International Chamber of Commerce’s (ICC) educational platform, the ICC Academy has gone live today – providing millions of business professionals and students around the globe with access to a new standard in business education. Commonwealth Bank of Australia, DBS, OCBC Bank, Banco Santander, and Standard Bank have been announced as “early adopters” of ICC Academy training courses.

Launched earlier this year, the ICC Academy has now opened its virtual doors and unveiled its online curricula of courses – all designed and taught by leading industry experts – and its groundbreaking Learning Management System.

Five banks will be “early adopters” of the ICC Academy, enabling employees to access its initial trade finance programs. The Academy’s trade finance offering features over 70 online courses and two global certificates in trade finance (the “Global Trade Certificate” and “Certified Trade Finance Professional”). These initial courses have been designed drawing on the expertise and experience of the ICC Banking Commission – comprising more than 600 members across 110 countries.

ICC Academy courses feature insights from senior business leaders and policymakers, and can be accessed online by prospective students – professionals, academics, tertiary students or members of the general public – anywhere in the world, at any time. Not only does this make it convenient for those with busy schedules, it also means that students in regions where physical access to training is limited can have equal access to world-class professional education. What is more, upon completion of courses, students receive globally-recognized certification of their professional skills.

“The ICC Academy is an effective response to a global need for high-quality, flexible business education available on a large scale,” said John Danilovich, secretary general of ICC. “We hope our initial trade finance offering will help bridge skills gaps as regards trade finance instruments-both within the banking sector and wider industry. Academy courses have a key role to play in enhancing the supply of trade credit and ensuring that corporates understand the financing options open to them.”

By becoming “early adopters” of the ICC Academy, all five banking partners can ensure their employees are not only internationally certified trade finance professionals, but are authorities on the trade finance industry – regularly completing courses and attending various conferences or seminars that allow them to continually adapt to fit the evolving landscape.

 

 

ICC Tunisia Honorary Chairman Receives Nobel Peace Prize 2015

Published on October 12, 2015
Wided Bouchamaoui
Wided Bouchamaoui

The International Chamber of Commerce (ICC) and the International Organization of Employers (IOE) congratulated Wided Bouchamaoui, honorary chairman of ICC Tunisia and president of IOE member Tunisian Confederation of Industry, Trade and Handicrafts (UTICA), for receiving the 2015 Nobel Peace Prize.

UTICA along with the Tunisian Human Rights League, the Tunisian Order of Lawyers and the Tunisian General Labor Union compose the Tunisian National Dialogue Quartet which has been awarded today in Oslo. UTICA submitted the application to the Nobel Prize selection committee on behalf of the four organizations.

The quartet has made a decisive contribution to the building of a pluralistic democracy in Tunisia in the wake of the Jasmine Revolution of 2011. The four organizations exercised their role as a mediator and driving force to advance peaceful democratic development in Tunisia with great moral authority.

In its official announcement, the Nobel committee said: “The quartet paved the way for a peaceful dialogue between the citizens, the political parties and the authorities and helped to find consensus-based solutions to a wide range of challenges across political and religious divides.”

Bouchamaoui is also a winner of the 2015 Business for Peace Award, an annual prize given to outstanding business people who have been able to achieve business success while acting in an ethically responsible way.

ICC Court to Communicate Reasons as a New Service to Users

Published on October 8, 2015

ICC_Court_ArbitrationIn response to growing user demand, the International Court of Arbitration of the International Chamber of Commerce has announced that it will communicate reasons for many of the administrative decisions it is called on to take under the ICC Rules of Arbitration. This new policy will enter into force immediately and will be applied where all the parties to a case so agree.

The additional service offered by the court applies to: (i) a decision made on the challenge of an arbitrator; and (ii) a decision to initiate replacement proceedings and subsequently to replace an arbitrator on the court’s own motion. The court may also communicate the reasons for its decisions regarding consolidation of arbitration proceedings and prima facie decisions on jurisdiction.

The ICC Court’s note to parties and arbitrators specifies that any request for the communication of reasons must be made in advance of the relevant decision in respect of which reasons are sought. The Court may subject the communication of reasons to an increase of the administrative expenses, normally not to exceed $5,000.

This new policy was adopted in advance of the court’s annual working session that took place in Paris last week. This was the first working session chaired by Alexis Mourre following his appointment of president of the court in July.

Commenting on the new service, Mourre said: “Providing reasons as to court decisions will further enhance the transparency and clarity of the ICC arbitration process. This new service is a sign of our commitment to ensuring that ICC arbitration is fully responsive to the needs of our users the world over.

“The service has been implemented with immediate effect and may be utilized in all ongoing cases where the parties so agree and submit a request for reasons prior to seeking a decision from the court.”

The court has also announced that its 2016 working session will take place in New York City. This will be the first time the court has held its annual working session outside of Paris in its history.

For more information on the work of the court, including details on how to use ICC arbitration services-please visit our dedicated web portal .

 

 

 

 

Business Commends the OECD, G20 on the 2015 BEPS Package

Published on October 5, 2015

The Organization for Economic Cooperation and Development (OECD) released its long-awaited 2015 BEPS recommendations on October 5, concluding the two-year Base-Erosion and Profit Shifting (BEPS) project designed to rewrite global tax rules.

“The BEPS project needed to happen, and the OECD and G20 should be congratulated both for their hard work and for achieving high-level consensus across many issues,” said Will Morris, chair of the tax committee of the Business and Industry Advisory Committee (BIAC) to the OECD. “Moreover this high-level consensus was achieved while working to an exceptionally ambitious timetable.”

Morris added that the business community still has concerns that some of the BEPS recommendations may lead to double taxation of income, and “many important details remain to be worked out.”

For many years, the OECD has successfully promoted cross-border trade and investment by removing barriers – including significant tax barriers – to growth.  The task of the last two years has been to respond to legitimate public concern about double non-taxation.  In spite of the reservations raised, BIAC acknowledged that the BEPS process and the recommendations released today appropriately respond to those concerns.

Carol Doran Klein, USCIB’s vice president and international tax counsel, has worked closely with members, the U.S. government, BIAC and the OECD secretariat throughout the BEPS process.

In a statement released today about the 2015 BEPS package, BIAC noted two recent develops:

  • The growing acceptance among countries that mechanisms for resolving tax disputes need to be significantly improved: changes to the treaty-based Mutual Agreement Procedure will be important, but the moves of some key countries towards Mandatory Binding Arbitration will bring even more substantial benefits, as the risk of double taxation would be greatly reduced.
  • A potential monitoring mechanism on implementation of the BEPS recommendations to be overseen by the OECD: BIAC believes this is an important development that can help to ensure consistent application of the BEPS recommendations by countries, and we hope that business will be able to play a significant and constructive role in this monitoring process.

BIAC also welcomed the intention of G20 countries to remain part of this process for the foreseeable future, and we appreciate the commitment to ensure that the distinctive needs of developing countries will be also appropriately addressed.

The International Chamber of Commerce also released a statement today welcoming the conclusion of the BEPS project but underscoring significant implementation challenges in the near future.

 

13th ICC Miami Conference: Tooling up for International Arbitration

Published on September 30, 2015

ICC_Miami_Arbitration_buttonThe International Chamber of Commerce‘s acclaimed annual conference on international arbitration in Latin America returns to Miami in November bringing together over 450 participants from 30 countries to discuss the latest developments under the theme “Tooling up for International Arbitration”.

A major networking opportunity, the 13th Miami Conference kicks off on November 1 with the ICC Institute’s already sold out advanced-level training on how to manage the production of documents in international arbitration.

The Miami Conference is a major forum for understanding international arbitration in Latin America attracting lawyers, corporate counsel, arbitrators, mediators and academics from across Latin America and the Caribbean.

“I am thrilled to address the Latin American arbitration community during this essential annual event that takes place in an ever expanding Latin American arbitration market,” said Alexis Mourre, president of the ICC International Court of Arbitration who will deliver a keynote speech at the event.

Led by a top-rate line up of speakers, the 13th ICC Miami Conference will take place on November 1-3 and feature a dynamic series of plenary and technical sessions, roundtables and discussions, as well as two optional breakfast sessions. Discussions will be held in English, Spanish and Portuguese with simultaneous interpretation.

The conference concludes with a mock case looking at tools for urgent and preliminary relief in international arbitration in five different scenarios.

Full program and registration.