Seal the Deal at the 9th World Chambers Congress

Published on April 30, 2015

The International Chamber of Commerce’s World Chambers Federation 9th World Chambers Congress – set to take place this June in Torino, Italy – will feature two exciting networking initiatives that will allow participants to seek new international business opportunities, learn new dynamics within their industries and build enduring business relationships.

According to participants, networking is the first reason why they attend the Congress. ‘Network Connections’ and ‘Business Excellence’ are part of the business program developed by the Torino Chamber of Commerce, and represent a unique opportunity to ensure a sustainable future for chambers, business leaders and companies, through the use and creation of an international and professional long-lasting business network.

Cindy Duncan, USCIB’s senior counsel and SVP for international trade services, will be moderating a panel during the congress about the ATA Carnet, the Merchandise Passport for which USCIB is the American National Guaranteeing Organization. The ATA Carnet is a customs document that allows for the temporary tax- and duty-free import of professional equipment, commercial samples and goods for fairs and exhibitions. With over 70 countries part of the member system, Duncan’s panel will seek to encourage non-members to join.

Network connections program

Over the three days of Congress, there will be five one-hour time slots, during which delegates can book meeting appointments with fellow participants they wish to meet. This meeting will occur in the ‘network connections box’ – a dedicated space for the networking program located in the heart of the exhibition area. Each participant will have 20 minutes to interact with peers and will be able to have up to nine appointments throughout the Congress.

This program is free of charge and participants are invited to request their participation during the online registration process. Once registered, delegates will be able to start booking their networking appointments starting May 5, via the Congress website.

Business excellence program

This new level of networking experience is especially targeted to foreign delegations interested in having their business meetings off-site. The program is based on field visits to companies from different sectors including automotive, aerospace, textile, fashion, design, energy, environment, health, food and wine industries. These visits will be customized depending on the delegate’s interests and are available at a supplementary cost.

Connecting with the participants from the World Chambers Congress, means connecting with the business world.

ICC Rallies Business to Voice Priorities for G20

Published on April 23, 2015

The International Chamber of Commerce (ICC) called on global business leaders to intensify discussions with G20 governments and to emphasize priorities for trade, investment and servicing small- and medium-sized enterprises (SME) to grow the economy and generate jobs.

ICC Chairman Terry McGraw addressed 350 global business leaders gathered in Washington D.C. for a special B20 plenary session co-hosted by the World Bank Group. In his keynote speech, McGraw urged fellow business leaders to step up the dialogue with the G20 and press for adoption of B20 recommendations on trade and investment and on stimulating the contribution of smaller businesses to the global economic recovery.

“We must remember that the G20 is a coalition of 20 individual member governments,” said McGraw. “To ensure that governments hear and understand our priorities, we need to take a horizontal approach that addresses individual circumstances across the G20.

The high-level B20 plenary session featured interventions from IMF Managing Director Christine Lagarde, Word Bank Group President Jim Yong Kim, Deputy Prime Minister of Turkey Ali Babacan, and Rifat Hisarciklioglu, chair of B20 Turkey. Lagarde, who has participated in B20 meetings annually since 2011, when the G20 was held in France, reiterated the importance of business contributions to the G20 agenda and called for “continuing dialogue between the B’s [B20] and the G’s [G20].”

Babacan emphasized the importance of business engagement in the G20 process. “Governments alone cannot create growth or employment. No matter how much you increase government spending, no matter how much central banks go through a monetary expansion process, if the private sector is not onboard it is not realistic to expect sustainable growth, it is not realistic to expect real job creation. So B20 is very important for us and business involvement in our G20 agenda is of utmost importance,” he said.

The B20 plenary was preceded by the inaugural meeting of the B20 International Business Advisory Council (IBAC) which is chaired by Muthar Kent, CEO and chairman of the Coca-Cola Company and comprises CEOs and business association heads from each of the G20 countries.

“The objectives of IBAC are to ramp up our communications with G20 government officials and to improve continuity between [G20] Summits,” said Kent. “I’m happy to be able to support Turkey’s Presidency of the G20 and B20 and to advance the economic reform agenda that will be critical to increasing global growth, growth in trade, growth in job creation and growth in inclusiveness.”

B20 Turkey also invited ICC to serve as its international secretariat for the IBAC, to be chaired by ICC Secretary General John Danilovich.

“ICC has had an historic responsibility to convey business priorities to national and intergovernmental officials for decades,” explained Danilovich. “Serving as the IBAC Secretariat is a natural extension of this role and draws upon our experience as strategic partner to the B20 since the Seoul Summit in 2010. Our job will be to ensure that business priorities are included in the deliberations of the G20, as a collective body for global economic governance and in national capitals.”

The B20 meetings in Washington also included breakout sessions for the six B20 policy task forces: Infrastructure and Investment, Trade, Employment, SMEs, Anti-Corruption, and Finance. The meetings were used to provide mid-point assessments of priorities across the task forces and to begin finalizing the recommendations that will be presented to G20 leaders in advance of the Antalya Summit in November.

ICC G20 CEO Advisory Group deputies met ahead of the Task Force meetings to align priorities and outline a strategy for ICC’s contributions to the 2015 B20 process. The ICC group comprises over forty CEOs from major multinational corporations from most of the G20 countries who are committed to sharing real world experience for the G20 growth agenda.

“The ICC group forms the ‘corporate core’ of the B20,” said ICC CEO Advisory Group Director Jeff Hardy. “The B stands for business and it’s important that we amplify the priorities of the companies that drive global trade, investment and employment.”

The 2015 G20 Leaders’ Summit will be held in Antalya on November 15-16.

Trade Finance Made Easy: ICC Revises Dispute Resolution Rules

Published on April 23, 2015

The International Chamber of Commerce (ICC) has revised its DOCDEX rules, a dispute resolution mechanism specifically designed to address trade finance concerns. In addition to widening its scope to address any trade finance dispute, the new rules will also increase transparency and enhance time efficiency.

DOCDEX is a rapid, cost-effective, document-based procedure offering international bankers and traders a means to settle documentary instruments disputes – not only helping parties minimize the disruption caused by a dispute but also eliminating the need to settle the claim in court.

Decisions are reached by a panel of three independent and impartial experts, and later scrutinized by an ICC Banking Commission technical advisor. Crucially, decisions are non-binding unless both parties agree otherwise – freeing the independent experts from due process, and adding flexibility.

Daniel Schmand, head of trade finance and cash management corporates EMEA, Deutsche Bank and incoming Banking Commission Chair said: “Documentary disputes can severely impact, and often entirely halt, trade finance proceedings. And resolving them is not only a costly and lengthy process, it can also – if taken to court – irreparably damage relationships with trading partners.”

By quickly and inexpensively managing claims, DOCDEX helps minimize the disruption caused by a dispute – not only eliminating the need for protracted litigation, but also safe-guarding the partnerships that are so crucial to the banking and trade finance sectors.”

The recently revised rules – which come into force on 1 May 2015 – will significantly enhance the already advanced dispute resolution mechanism.

The revised rules will also enhance transparency – requiring ICC to publish redacted decisions in every DOCDEX case. Doing so will not only set a precedent for future cases, it will also allow ICC to analyze the panel of experts charged with forming a decision – ensuring they are both impartial and practitioners.

Finally, the 2015 revision provides that filings be made in electronic form – using standard templates available on the ICC website. While speed has always been a hallmark of the DOCDEX process – decisions are typically reached within 30 days of a claim – the change in format will help to streamline case administration and, therefore, further accelerate proceedings.

The ICC DOCDEX Rules and more information on how to use the service can be found at www.iccdocdex.org.

One Coastal Tanker Hijacked Every Two Weeks in Southeast Asia

Published on April 22, 2015

A small coastal tanker is hijacked by pirates in South East Asia every two weeks on average, a report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) has revealed.

South East Asia accounts for 55 percent of the world’s 54 piracy and armed robbery incidents since the start of 2015.

After a steady drop in global piracy over the last few years, attacks rose 10 percent in the first quarter of 2015 on the same period of 2014.

Worldwide, pirates took 140 hostages in the first three months of 2015, three times as many as during the same period in 2014. A total of 13 seafarers were assaulted and three injured.

In West Africa, a hotspot for violent piracy, one man was killed in the hijacking of a fishing vessel off Ghana. Five crew members were kidnapped by Nigerian pirates in two separate incidents in addition to a small product tanker being reported hijacked.

IMB has recorded 23 ship hijackings in South East Asia since April 2014, with six taking place in the last three months. Most are carried out by armed gangs targeting small coastal tankers to steal their cargoes of fuel. Five tankers and an offshore tug have been hijacked in the first quarter.

“The frequency of these hijackings in South East Asia is an increasing cause for concern. There’s a risk that the attacks and violence could increase if left unabated,” said Pottengal Mukundan, director of IMB, which has been monitoring world piracy since 1991.

Malaysian authorities have detained one gang of hijackers now awaiting trial. IMB has commended this action and calls for a stronger, coordinated regional response to clamp down on piracy in South East Asian waters.

The country with the highest number of attacks is Indonesia, accounting for almost 40 percent of 2015 attacks, with two vessels hijacked and 19 vessels boarded. IMB reports that the overwhelming majority of incidents are low-level, opportunistic thefts, although the attackers here are usually armed with knives, machetes or guns.

With eight reports in the past three months alone, Vietnam has seen an increase in armed robbery incidents. More and more thieves are breaking into ships at anchor in and around Hai Phong and Vung Tau.

The IMB Piracy Report shows zero incidents for Somalia in the first quarter of 2015. However, it advises shipmasters to follow the industry’s Best Management Practices, as the threat of Somali piracy has not been totally eliminated.

New ICC Cyber Security Guide Outlines Practical Steps for Business

Published on April 15, 2015

The International Chamber of Commerce (ICC) published a new, straightforward guide to help companies of all sizes manage their approach to cyber security and mitigate threats posed by cybercrime. The pragmatic ICC guide stands out as the first of its kind, responding directly to the need for material tailored to help business management frame cyber security discussions with information technology professionals – and vice versa – to put a collaborative and ongoing management approach in place.

“The digital economy is playing an increasingly important role in opening up new markets and opportunities for global business,” said ICC Secretary General John Danilovich. “But in today’s global economy many businesses adopt modern information and communications technologies without fully realizing the new types of risks to be managed as a result. ICC’s guide offers a way to recognize these risks and map out a process to deal with them.”

Noting that absolute security is an elusive goal, the free-to-download ICC Cyber security guide for business demonstrates how improving an organization’s cyber security is possible through a risk management process. This clear guide has been prepared for management and information technology teams to use together – featuring a security self-assessment questionnaire and a set of five principles to reduce risk associated with cyber security incidents. The principles are supported by a checklist of six essential steps every company should take to set managers on a course towards information security excellence.

Produced by the ICC Commission on the Digital Economy, the ICC Cyber security guide for business is informed by global cyber security guidelines and national strategies offering businesses a framework to consider the question of security online.

“So many documents and guidelines exist that it can be difficult to know what to start reading and what kinds of documents are appropriate to your organization,” said Gerard Hartsink, Chair of the ICC Task Force on Cyber Security. “The range of material available is considerable but the cyber security risk management concepts outlined in the guide will help companies overcome fears and improve risk awareness to rise to the information security challenge of this fast changing environment. The guide should be shared with business partners in the supply chain of goods and services and with the public sector to enhance resilience as broadly as possible.”

ICC has also launched an online appendix of resources to complement the guide serving as a living resource to provide more specific advice as these materials are developed – from standards of practice to technical standards and more.

Catalogued on the www.iccwbo.org/cybersecurity the portal includes a listing of pertinent global frameworks, resources and contacts and will evolve and be enhanced over time with more local frameworks and translations.

For more information, visit the Task Force on Cyber Security web page.

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

Published on April 15, 2015

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

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

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

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

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

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

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

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

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

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

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

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

Media contact:

Jonathan Huneke, USCIB

+1 917.420.0039, jhuneke@uscib.org

Launch of ICC Academy, a Premier Source for Professional Education

Published on March 19, 2015

The International Chamber of Commerce (ICC), the world business organization for which USCIB serves as the American national committee, today launched the ICC Academy – setting a new standard for professional education. Based in Singapore and delivered via a digital platform, the Academy will provide rigorous, relevant and applicable business education – encouraging individuals to reach their highest potential with respect to professional competency and ethical conduct.

The Academy has been launched in partnership with International Enterprise (IE) Singapore, the government agency that promotes international trade and assists Singapore companies to internationalize. Singapore Minister for Trade and Industry Lim Hng Kiang joined ICC board members at the launch of the ICC Academy, which aims to enhance the expertise of practitioners across a wide range of business sectors.

“As the world’s business organization, ICC has long provided training and certification programs to help build business skills for the jobs of today and tomorrow,” said Terry McGraw, chairman of ICC (as well as USCIB) and chairman of McGraw Hill Financial [now S&P Global]. “We are taking this commitment to growing a skilled workforce and jobs globally to a new level with the launch of this Academy, which will be internationally recognized and accessible to all – in developed and developing countries.”

IE Singapore and ICC share a common vision to promote global trade. The former’s role is to establish Singapore as a global trading hub while the latter promotes open trade and investment and helps businesses worldwide meet the challenges and opportunities of an increasingly integrated world economy. The ICC Academy is a successful partnership milestone for both parties in nurturing global business leaders and experts. It will serve as a center of excellence and thought leadership for the global business community.

Taking full advantage of ICC’s extensive global network, the ICC Academy promotes the highest standards of excellence in global professional education – providing a wide range of specialized programs that are recognized worldwide. Courses are designed and taught by ICC’s unrivalled roster of experts and practitioners, incorporating insights from external senior business leaders and policymakers.

ICC Academy courses are delivered via a dynamic digital platform, using innovative tools to give the Academy global reach. The ICC Academy can therefore offer those in developing and remote regions the same access to world-class professional education as those in advanced economies – developing skills even in the most challenging locations.

“E-learning initiatives are being adopted as a means of maximizing educational budgets as well as expanding the potential breadth of audience – without compromising on the quality or depth of learning,” said ICC Secretary General John Danilovich. “Provided users have access to the Internet, distance learning means there will be no inequalities with respect to educational potential via the ICC Academy – no matter where an individual is situated.”

The use of a digital platform also allows ICC to centralize the Academy in one location: Singapore – an established international trade hub, underpinned by its strategic location and presence of a strong trading community. It is chosen as the location of the ICC Academy because of the country’s well-established ecosystem of business infrastructure, strong network of companies and large pool of skilled talent. The ICC Academy will further enhance this trade ecosystem.

Teo Eng Cheong, chief executive officer of IE Singapore, said: “The establishment of the ICC Academy global headquarters in Singapore is a testament to our role as an international trading hub. With a common mandate to promote international trade, IE Singapore and ICC can jointly contribute to growth of expertise and talent for the sector globally.”

The ICC Academy will draw on ICC expertise in specialist fields – starting with a faculty in banking and trade finance shaped by over 600 banking experts from 110 countries. The faculty features around 70 online courses and two global certificates in trade finance. Following this initial trade finance focus, the ICC Academy will broaden its scope – introducing new curricula, spanning all ICC competences from international law to anti-corruption.

ICC Academy website

B20 Sets Priorities for World Trade Agenda

Published on March 14, 2015

The Business-20 (B20) Trade Task Force has committed to work toward ratification of the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) by year’s end and to work with WTO and its members to ensure quick and effective implementation. The Task Force agreed to the strategy as it met to set business priorities for G20 governments, which also includes a call on the G20 to roll back protectionist measures implemented since the 2008 financial crisis.

B20 is the premier dialogue platform for engaging global business leaders with G20 governments and leaders. B20 Turkey is chaired by Rifat Hisarciklioglu, the president of the Union of Chambers of Commerce of Turkey.

The Turkey B20 Trade Task Force held its second meeting in Istanbul on March 10. The Task Force consists of 76 company senior representatives from around the globe and is co-chaired by ICC and USCIB Chairman Terry McGraw and Guler Sabancı, chairman of Turkey’s Sabancı Holding.

The B20 group of companies unanimously agreed that the first priority is to call on all WTO countries to ratify the Trade Facilitation Agreement, which over time could contribute an additional US$1 trillion to world GDP and 21 million jobs, 18 million of which will be in developing countries. The task force outlined plans to work at the country level to convey the economic and job growth benefits of the agreement and to press for ratification and implementation.

“Governments, particularly those in the G20, must now ensure that the TFA is ratified by their national legislatures by mid-December,” McGraw said. “So far, the US is the only G20 country to ratify; and the remaining 19 must fulfill the commitments they made in Brisbane and demonstrate the leadership that comes with being part of the G20.”

The B20 Trade Task Force also agreed that the second key priority is to stop protectionism and is calling on governments to move forward to remove trade restrictive measures.

The 2015 G20 Leaders’ Summit will be held in Antalya on November 15 and 16.

B20 Leaders Call for Action on Trade and Infrastructure

Published on February 27, 2015

Representatives from USCIB’s global network participated in B20 policy consultations and called for greater emphasis on reducing trade barriers and improving conditions for infrastructure investment, particularly in the energy sector.

CEOs from the International Chamber of Commerce G20 Advisory Group attended the Saudi Arabia Regional Consultation Forum on February 26 in Jeddah, organized by B20 Chairman Rifat Hisarciklioglu. This event was the first of 11 meetings set to take place this year to gauge business priorities to be fed into the B20 policy recommendations made to the Turkish G20.

“Trade must be put at the top of the G20/B20 agenda,” said Turkish Deputy Prime Minister Ali Babacan. “We must find ways to grow global trade to deliver economic growth and employment.”

And in Antalya, Turkey, International Organization of Employers President Daniel Funes de Rioja, said that the B20 is fully committed to contributing to the success of the Turkish G20 presidency. He noted that the discussions to take place during the upcoming 2015 International Labor Conference will focus on Informality and SMEs, areas of concern that are shared by the G20 employment process.

The 2015 G20 Leaders’ Summit will be held in Antalya on November 15-16.

Record Number of Projects Submitted to ICC World Chambers Competition

Published on February 17, 2015

The International Chamber of Commerce (ICC) World Chambers Federation (WCF) has received a record number of innovation and best practice projects for the World Chambers Competition, a prominent feature of the ICC WCF 9th World Chambers Congress to be held in Torino, Italy in June. WCF is a specialized division of ICC encompassing chambers of commerce from every region of the world.

Open to more than 12,000 chambers across all five continents, the competition has received 80 applications from 40 countries for the 2015 edition, making this year’s event the biggest since its launch in 2003 in Quebec City.

“The World Chambers Competition is more than just an awards program. It is a unique forum to showcase the ingenuity behind cutting-edge business projects undertaken by small- and medium-sized enterprises that are part of chambers of commerce worldwide,” said Rona Yircali, Honorary Chair of the ICC World Chambers Federation and Chair of the Competition jury.

“The competition is an unparalleled opportunity to raise the profile of these ground-breaking projects and give them significant and much deserved visibility in the world business community,” Mr Yircali said.

The 9th World Chambers Congress, taking place from 10-12 June in Torino, Italy is the largest global gathering for chambers of commerce. Held every two years in a different region of the world, the Congress is the only international forum for chamber leaders to share best-practice experiences, exchange insights, develop networks, address the latest business issues affecting their communities and learn about new areas of innovation from other chambers around the world.