Growth, Jobs and Open Markets Archives

USCIB Welcomes Rep. Camp’s Tax Proposal

Published on October 31, 2011

Washington, D.C., October 31, 2011– The United States Council for International Business (USCIB), a pro-trade group which represents America’s top global companies before the U.S. government and in major international forums, welcomed proposed tax reform measures put forward by Rep. David Camp (R – Mi.), chairman of the House Ways and Means Committee.

“We are pleased to see Chairman Camp’s proposal on tax reform,” said USCIB President and CEO Peter M. Robinson.  “The high rates and worldwide system of taxation of the United States are out of step with the rest of the world.  U.S. business supports efforts to achieve reform of these rules.  Chairman Camp’s proposal represents an important first step.”

Mr. Robinson underscored the importance of maintaining a level playing field for all companies in the context of U.S. tax reform.  “We must ensure that legislative alternatives intended to protect the tax base do not disfavor U.S. companies versus their competitors,” he said.  “We look forward to working with Chairman Camp and other members of Congress and the administration to achieve bipartisan business tax reform.”

Through its affiliation with the Business and Industry Advisory Committee to the OECD, USCIB works closely with the U.S. and other governments to provide business input and promote closer international cooperation on tax matters, including the OECD Model Tax Treaty and the OECD Transfer Pricing Guidelines.

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

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

More on USCIB’s Taxation Committee

New Report Proves Trade Finance Is Low-Risk, Asks Regulators and G20 to Unlock Trade

Published on October 26, 2011

4182_image002Beijing and New York, N.Y., October 26, 2011 –The rules set by bank regulators impose unwarranted capital requirements that choke trade and have adverse impacts on growth. A new report issued today by the International Chamber of Commerce (ICC) shows that trade finance is a relatively low-risk asset class that should not be feared by banks, nor over regulated by governments, according to ICC’s American national committee, the United States Council for International Business (USCIB).

ICC also said it was pleased that the Basel Committee on Banking Supervision had announced measures yesterday that recognize trade finance as a low-risk activity for banks, and said that there is opportunity to further refine the rules to foster the development of trade and the support of SME clients. ICC asserted that treating trade finance as a unique asset class to accurately reflect its low risk will help foster more trade and create jobs.

“The ICC report provides a compelling case for the Basel Committee to reduce the proposed capital requirements, which by some estimates effectively increase the cost of trade finance by 30 to 40 percent ,for importers and exporters around the world,” said Michael Quinn, managing director with JP Morgan and chair of the USCIB’s Banking Committee.  “As the rules have yet to be finalized, this ICC effort will hopefully address major concerns in the Basel Committee’s original recommendations.”

The new ICC report calls on standard setters and policy makers to carefully study the potential unforeseen impact of proposed Basel III changes on trade finance from the Basel committee and to make trade finance more accessible and affordable.

Reliable and cost-effective finance and guarantees to companies looking to import or export commodities, consumer goods, and capital equipment are critical to keep trade flowing within and between counties. World trade is, in turn, key to global economic growth.

The outlook on the risks of defaults in trade and finance were revealed in the ICC report Global Risks – Trade and Finance, issued on the occasion of a major ICC Banking Commission meeting taking place in Beijing from October 24 to 28.

The report was based on analysis of the ICC Trade Finance Register, the most comprehensive dataset available on the market. It contains data from major international banks reflecting a minimum of 60-65% of traditional global trade finance activity, worth about USD2-2.5 trillion. Fewer than 3,000 defaults were observed in the full data set of 11.4 million transactions.

The report also showed the short-term nature of trade transactions and recommended using the actual maturity of trade transactions to calculate risk requirements as opposed to the one-year standard proposed by regulators.

In the midst of the current global economic crisis, the ICC Banking Commission meeting brings together some 350 eminent banking professionals, international organizations and supervisory bodies from over 50 countries to examine the key trade and finance challenges faced by the industry.

The trade and finance experts at the ICC meeting also worked to frame business input to the G20 on stimulating jobs and growth, ahead of the upcoming G20 Summit in Cannes. The discussions were part of a series of regional consultations led by the ICC G20 Advisory Group around the world. Since its creation in May 2011, the G20 Advisory Group has been leading ICC’s efforts to develop policy input to the G20 process in areas including: trade and investment, financial regulation, anti-corruption, the international monetary system, commodity price volatility and green growth.

“Trade will play a key role in tackling the jobs crisis,” said Jean-Guy Carrier, ICC’s secretary general. “Economic growth depends largely on the capacity of G20 governments to improve the conditions for international trade, including easing trade finance rules. However, what we’re seeing is that protectionist measures are growing within the G20. This trend must be reversed and more needs to be done to dispel the myths that trade results in job losses. Trade is a dynamic process that contributes to job creation.”

Global Risks – Trade Finance 2011 is a useful tool for both policy-makers and senior executives in financial institutions around the world. It will enable institutions to better understand the level of risks involved in different trade finance products and allow bankers to benchmark their activities in a more rigorous fashion.

“I hope that by focusing on the critical connections between default levels in trade finance and the shaping of new regulatory recommendations, decision-makers will be able to engage collectively in efforts to improve the global financial system’s overall resilience,” said Kah Chye Tan, global head of trade and working capital, Barclays Corporate, and chair of the ICC Banking Commission.

To read the ICC response to the Basel Committee on Banking Supervision announcement on trade finance, please visit www.iccwbo.org.

About the International Chamber of Commerce

ICC is the world business organization, representing enterprises from all sectors in every part of the world. It promotes cross-border trade and investment and the multilateral trading system, and helps business meet the challenges and opportunities of globalization. Business leaders and experts drawn from ICC’s global membership establish the business stance on broad issues of trade and investment policy as well as on vital technical subjects. ICC enjoys a close working relationship with the United Nations and other intergovernmental organizations, including the World Trade Organization and the G20. ICC was founded in 1919. Today it groups hundreds of thousands of member companies and associations from 120 countries. For more information please visit www.iccwbo.org.

About USCIB

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

More on USCIB’s Banking Committee

Business Urges Ambitious Approach in Pacific Trade Talks

Published on October 19, 2011

Washington, D.C., October 19, 2011 – Following Congressional approval last week of the three long-pending free trade agreements, the business community in a letter today to President Obama is urging the United States to take an ambitious approach to a possible multilateral trade agreement with several Asia-Pacific nations.

The United States Council for International Business (USCIB), which represents America’s top global companies, has joined with a range of other leading industry associations in urging the U.S. to pursue “a comprehensive agreement that covers every sector and sub-sector of the U.S. economy” in the Trans-Pacific Partnership (TPP) negotiations currently underway with eight nations.

The business groups said such an approach would ensure that “the final TPP produces new economic opportunities and exports to sustain and increase American jobs [and] the maximum commercial benefits of the burgeoning Asia-Pacific market.”

Other parties to the TPP negotiations include Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.  Taken together, these countries represent the third-largest U.S. export market.

“The TPP must be a gold-standard agreement for the 21st century,” stated USCIB President and CEO Peter M. Robinson.  “It needs to be ambitious and comprehensive, with high standards and all industry sectors covered, as the United States has sought to do via its bilateral trade and investment agreements.  When countries seek to carve out certain sectors for special protection, this can cause a downward spiral where the end product is a far less effective agreement than it could be.”

The joint industry letter underscored that carve-outs and exemptions would tend to undermine U.S. competitiveness, and would reduce the TPP’s economic appeal for exporters and global firms.

Mr. Robinson said the TPP talks had made important progress in establishing rules for liberalization of foreign investment, and promised to bear fruit in three areas not previously addressed via a binding multilateral trade agreement: supply-chain integration, rules for state-owned enterprises and regulatory coherence.

“Global growth, U.S. competitiveness and good American jobs rest increasingly on tackling issues beyond the scope of earlier trade agreements,” stated Mr. Robinson.  “That’s why it’s crucial that we address these in an ambitious, comprehensive manner via the TPP.”

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation.  Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world.  With a unique global network encompassing leading international business organizations for which it serves as U.S. affiliate, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment.  More information is available at www.uscib.org.

More on USCIB’s Trade and Investment Committee

Business Groups Appeal for Reversal of Foreign Trade Zone Changes

Published on October 17, 2011

New York, N.Y., October 17, 2011 – Looming changes to the way goods are treated in U.S. Foreign Trade Zones have drawn an appeal from a range of pro-trade business groups, which say the changes will undercut the Obama administration’s National Export Initiative and cost American jobs.

The United States Council for International Business (USCIB), which represents top U.S. multinational companies and exporters, and other industry groups have appealed to Acting Commerce Secretary Rebecca Blank and Treasury Secretary Timothy Geithner to halt a planned rule change by the U.S. Foreign Trade Zone Board (FTZB), an interagency body chaired by the Commerce Department, that would automatically apply U.S. anti-dumping and countervailing duties on imports processed through foreign trade zones.

“Given the administration’s high priority for export growth, the FTZB rules should strongly promote, rather than inhibit, U.S. exports,” the business groups wrote in their letter.  “Unfortunately, the proposed FTZB regulations would harm President Obama’s National Export Initiative and result in a loss of manufacturing jobs in U.S. Foreign Trade Zones.”

For the past 20 years, such duties have been waived on imports provided the finished products were not ultimately imported into the customs territory of the United States.  The new rule would make such a waiver dependent on a finding that it was in the public interest, effectively nullifying the benefit to businesses of utilizing U.S. foreign trade zones.

“Foreign Trade Zones are one of the critical avenues for promoting exports and manufacturing jobs in the United States,” stated Jerry Cook, vice president, international with HanesBrands, Inc. and chair of USCIB’s Customs and Trade Facilitation Committee.  “We must do all that we can to foster these vital functions, rather than inhibit them.”

In their letter, USCIB and the other business groups noted that foreign trade zones accounted for $28 billion in exports in the most recent year available and employ 330,000 American workers.  They said the rule change would “drive U.S. manufacturing to other countries, where the same activity could take place without undue delay, risk or expense.”  U.S. manufacturers would suffer in competition with foreign factories, which will lead to the further loss of U.S. manufacturing jobs, they wrote.

Other signatories to the letter included American Apparel & Footwear Association, American Association of Exporters and Importers, American Institute for International Steel, Consuming Industries Trade Action Coalition, Emergency Committee for American Trade, National Association of Foreign Trade Zones, TechAmerica, and the U.S. Chamber of Commerce.

About USCIB

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

Business letter to Secretaries Blank and Geithner

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Trade and Investment Committee

Revised ICC Rules Boost G20 Efforts to Curtail Corruption

Published on October 17, 2011
From left: Francois Vincke, vice-chair of the ICC Commission on Corporate Responsibility and Anti-Corruption; and Jean-Guy Carrier, ICC secretary general
From left: Francois Vincke, vice-chair of the ICC Commission on Corporate Responsibility and Anti-Corruption; and Jean-Guy Carrier, ICC secretary general

The International Chamber of Commerce (ICC) has launched the ICC Rules on Combating Corruption in response to the G20’s call on business to stamp out corruption. The new ICC rules delineate measures companies should take to prevent corruption, including strong measures to end bribery and extortion.

ICC pointed out that G20 efforts to stabilize the economy and stimulate economic growth, trade and employment must address the drain on the economy caused by corruption. ICC Secretary General Jean-Guy Carrier said: “Corruption is a real threat to the integrity of markets, especially at a time when confidence and stability are most needed. Stamping out corruption will stimulate job creation, boost business confidence and open doors for emerging markets to attract foreign direct investment.”

The World Bank has estimated that corruption reduced annual economic growth by up to 1%, while the IMF reports that investment in corrupt countries is reduced by at least 5% when compared to countries that are relatively corruption-free.

The G20 has pledged to ‘lead by example’ through its Anti-Corruption Action Plan, which calls for ratification of the United Nations Convention against Corruption (UNCAC) and adoption of other laws  aimed at thwarting bribery and corrupt practices, and also asks business to strengthen corporate efforts in fighting corruption. ICC has urged G20 leaders to ratify and implement UNCAC and encourages work with non-G20 states toward its universal adoption and implementation.

Read more on ICC’s website.

Download a PDF copy of the ICC Rules on Combating Corruption

Download the ICC’s Recommendations to the G20 on Fighting Corruption

Business Groups Continue to Oppose China Currency Bill

Published on October 12, 2011

In response to proposed legislation aimed at pressuring China to accelerate the appreciation of its currency against the dollar, USCIB has been working with a coalition of other trade associations, led by the U.S.-China Business Council, to oppose the bill.

The Currency Exchange Rate Oversight Reform Act would label currency manipulation as a foreign subsidy, triggering U.S. tariffs on Chinese goods.

In a September 21 letter to Congress, USCIB and over 50 trade associations emphasized the importance of balancing bilateral with multilateral pressure on China.

“In addition to continuing U.S. government efforts, our organizations support strong, coordinated and enhanced multilateral pressure through international organizations such as the G-20 and APEC to promote China’s adoption of market-determined currency and exchange rate policies,” the letter stated.

On October 11, the controversial legislation was voted through the Senate without amendment by a vote of 63-35.  One proposed amendment submitted by Senator Orrin Hatch (R – Ut.).had included a multilateral approach to pressuring China on the appreciation of its currency.

Ten Years On: China in the WTO

This year marks the tenth anniversary of China’s membership in the World Trade Organization.  In October, as we have done each year since 2001, USCIB delivered a comprehensive statement to U.S. Trade Representative Ron Kirk’s office  on China’s compliance with its WTO obligations.

USTR collects this invaluable information from the business community to assist in preparing its report to Congress on China’s WTO compliance. USCIB members provided updated information in several cross-sectoral areas as well as those affecting their specific industries.  Among the top concerns were China’s policies and practices in indigenous innovation, intellectual property rights enforcement, transparency and standards.

We thank the USCIB members who took the time to send in updates and help us prepare the statement.

The Treasury Department has announced that it will delay publication of the semi-annual Report to Congress on International Economic and Exchange Rate Policies of the U.S.’s major trading partners until later this year, to allow time to assess progress following several international meetings, including the G20 finance ministers/central banks meetings on October 14-15 and the G20 and APEC summits in November.

USCIB will continue to monitor the progress of the proposed currency legislation and work with industry associations to ensure that the voice of business is heard on the importance of a multilateral approach to China’s management of its currency.

Staff contact: Justine Badimon

More on USCIB’s China Committee

Gamble to Chair ICC Commission on Trade and Investment Policy

Published on October 7, 2011
Dupont’s Geoffrey Gamble’s.
Dupont’s Geoffrey Gamble’s.

The International Chamber of Commerce recently announced the appointment of USCIB board member Geoffrey Gamble as the incoming chair of the ICC Commission on Trade and Investment.  USCIB serves as ICC’s American national committee.

Mr. Gamble is director of international affairs with Dupont, where his responsibilities include leading the company’s global government affairs network, the development of corporate trade policy and providing legal counsel in the areas of international and comparative law, trade law, and global ethics. He previously served as vice chair of the commission.

More on USCIB’s Trade and Investment Committee

USCIB Urges Swift Passage of Free Trade Agreements With Colombia, Korea and Panama

Published on October 3, 2011

New York, N.Y., October 3, 2011 – The United States Council for International Business (USCIB), which represents America’s leading global companies, applauded President Obama‘s submission of the U.S. free trade agreements with Colombia, Panama and Korea to Congress.

“The FTAs will provide a big boost to our economy as we seek to ensure sustained growth and a jobs-based recovery,” stated USCIB President and CEO Peter M. Robinson.  “These agreements have strong bipartisan support, and American business urges Congress to pass them without delay.”

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

More on USCIB’s Trade and Investment Committee

USCIB Front and Center at APEC Meeting in San Francisco

Published on September 28, 2011
L-R: Justine Badimon (USCIB), Laurie Goldman (Levi Strauss), Nasim Deylami (USCIB).
L-R: Justine Badimon (USCIB), Laurie Goldman (Levi Strauss), Nasim Deylami (USCIB).

The intergovernmental Asia-Pacific Economic Cooperation (APEC) forum held its third senior officials meeting September 12-26 in San Francisco.  USCIB members and staff played an active role in a wide range of public-private dialogues held throughout the two-week period.

By participating in the APEC process, companies and business groups have the opportunity to lay out their priorities on various trade and investment issues directly to the economies of greatest interest, and participate in dialogues with the officials who ultimately make the policy decisions affecting their industry, according to Justine Badimon, USCIB’s manager of China, APEC and European Union affairs.  Business input into APEC is facilitated at the regional level through the APEC Business Advisory Council, and at the U.S. level via the National Center for APEC.

Here is a round-up of several of the areas where USCIB played an especially active role in San Francisco.

Energy and Transportation Ministerial

The senior officials meeting began with joint gathering of APEC transport and energy ministers, hosted by U.S. Secretary of Energy Steven Chu and Secretary of Transportation Ray LaHood. A main focus was establishing achievable goals for energy efficiency and sustainability in transportation.  Ministers and the private sector discussed enhanced regulatory cooperation not only within APEC economies but also more broadly through other international organizations.  Ministers pledged to cooperate on cleaner and more energy-efficient transportation in the APEC region, with the goal of reducing energy in economic activity by at least 25 percent by 2030.

Women and the Economy Summit

A first-ever APEC Women and the Economy Summit was hosted by Secretary of State Hillary Rodham Clinton, with participation from nearly 3,000 ministers, senior government officials, and private sector representatives from the 21 APEC economies.  Executive Vice President Ronnie Goldberg attended on behalf of USCIB.

The meeting affirmed APEC leaders’ recognition that gender equality is central to economic and social development, and that equal opportunity for both women supports economic growth and poverty reduction.  It culminated with Secretary Clinton’s announcement that APEC governments had committed to taking action to address the most significant barriers hindering women’s full economic participation.

“By increasing women’s participation in the economy and enhancing their efficiency and productivity, we can bring about a dramatic impact on the competitiveness and growth of our economies,” Secretary Clinton said in her remarks.  “Because when everyone has a chance to participate in the economic life of a nation, we can all be richer.”

APEC’s work will initially focus on four priority areas: improving access to capital, access to markets, capacity and skills building, and women’s leadership.

Among the materials distributed at the summit was an APEC edition of the OECD Gender Initiative interim report.  The OECD is examining gender gaps in education, employment and entrepreneurship, and is developing tools for closing these gaps.  USCIB members are providing both policy and practical input to the OECD in this area through a network of OECD-area member organizations and company representatives.

APEC Chemical Dialogue

The APEC Chemical Dialogue, attended by USCIB members and Helen Medina, USCIB’s director of product policy, focused on two projects with the private sector. The first involves organizing a future information-sharing workshop to discuss chemicals in articles and exchange experiences.  The workshop will provide a foundation for future discussion on whether work in this area would be valuable and if so, the scope of such efforts.

Secondly, APEC will also hold discussions on transparency and innovation in this sector.  Developments in other international discussions touching on chemicals management issues, such as in the Aarhus Convention, or some aspects within the Strategic Approach to International Chemicals Management (SAICM) process, raise questions about access to and availability of certain chemical information while also protecting intellectual property rights.

The APEC Chemical Dialogue’s Regulatory Best Practice Principles already recognize the importance of proper treatment for confidential business information.  APEC members agreed to commission a short paper focusing on the importance of transparency in the availability of information on chemicals and, in turn, the importance of encouraging innovation through the protection of intellectual property rights, including confidential business information.

Secure Trade in the APEC Region

A two-day Secure Trade in the APEC Region conference looked at ensuring security across all levels of the supply chain, while balancing trade facilitation.  USCIB member companies, including UPS and Dow Chemical, were represented along with customs and trade officials to give their views on what works in the APEC region and what challenges remain.

Industry representatives emphasized the necessity of enabling trade through the development of guidelines for the supply chain, encouraging a multi-layered approach to risk assessment and harmonizing international standards and codes to be adopted globally.  Participants cited successful public-private partnerships, such as the Customs-Trade Partnership Against Terrorism (C-TPAT), and urged such partnerships be allowed to evolve, facilitate information exchange and respond to the security challenges encountered by a dynamic global supply chain.

Participants agreed that APEC has a unique position, as an accessible and open forum where business leaders and government can exchange information and collaborate on priorities for trade.  The APEC region also holds expertise and experience in dealing with natural disasters and terrorist acts which affect the global supply chain, and this knowledge can add value to the international discussion on security in trade.  APEC’s role should be to share leadership in this area with other organizations and governments and continue to act as a thought-starter with mechanisms such as the Trade Recovery Program, which was created at APEC and carried out by the World Customs Organization.

APEC Customs-Business Dialogue

With a theme of “Change, Challenge and Opportunity,” the APEC Customs Business Dialogue provided a forum for participants from both the private and public sectors to consider and discuss how the events of 9/11 attacks created significant changes and challenges to customs procedures in the APEC region, as well as opportunities for better collaboration between business and government.

Laurie Goldman, head of global trade policy with Levi Strauss & Co., took part in a panel discussion on “Opportunity: Identifying the Next Generation of Customs-Business Partnerships.”

“The APEC Customs Business Dialogue gives both government and business a chance to address trade problems openly and efficiently in a way that helps to facilitate trade and better focus customs resources,” said Ms. Goldman.

It was widely agreed upon by business participants that APEC economies should work toward establishing guidelines for mutual recognition of AEO (Authorized Economic Operator) programs, and implement mechanisms to increase transparency and improve capacity building.  Positive examples of potential customs-business partnerships within APEC were provided, such as the Asia-Pacific Interactive Tariff Database.  Nasim Deylami, USCIB’s manager for customs and trade facilitation, will work closely with U.S. Customs and Border Protection to ensure our engagement with APEC on this issue as we move into 2012.

Data Privacy

Heather Shaw, USCIB’s vice president for ICT policy, continued work with APEC’s Electronic Commerce Steering Group with a workshop she organized on September 17 called, APEC Cross-Border Privacy Rules: The Value Proposition for Industry, Consumers and Governments.  In addition to the workshop, key outcomes of the data protection subgroup included the completion of the Cross-Border Privacy Rules System (CBPR) Pathfinder.  Click here to access a separate report on the CBPR.

Gearing up for the CEO Summit

In November, USCIB President and CEO Peter Robinson will attend the APEC CEO Summit in Honolulu, where President Obama will host his counterparts from each of the APEC economies.  The summit will include a full agenda of plenary discussions with business leaders from around the APEC region exploring new developments in health and innovation, financial markets, regulatory reform, green growth and “next-generation” trade issues.  The two-day event will also offer opportunities for the business community to engage with APEC leaders. At the conclusion of the summit, the U.S. will hand over hosting duties to Russia for APEC 2012.

For more information about registration for the CEO Summit, please visit the National Host Committee’s website at www.apec2011ceosummit.com or contact USCIB.

New Book by WTO and ILO on Sustainable Globalization

Published on September 27, 2011

USCIB Trade and Investment Update

USCIB members met with several key trade officials this month, as part of our ongoing efforts to advance a positive trade agenda in the United States and overseas.

At the September 8 meeting in Washington of USCIB’s Trade and Investment Committee, members had a wide-ranging discussion with Deputy U.S. Trade Representative Miriam Sapiro.  Themeeting covered the status of the pending free trade agreements with Korea, Colombia and Panama, as well as Trade Adjustment Assistance, on Capitol Hill; the stalled WTO Doha Round negotiations; Russia’s accession to the WTO; and trade with the Middle East and North Africa.  On hand at the meeting were additional representatives from USTR and the State Department to review the status of the U.S. model bilateral investment treaty (BIT) , as well as BIT negotiations with China, India and several other countries.  Committee members also agreed to establish a task force to discuss and develop a USCIB paper on revitalizing the global trading system.

Also in Washington, on September 19, USCIB hosted a roundtable for members with Ken Ash, director of the OECD’s Trade and Agriculture Directorate, and Raed Safadi, his deputy.  Mr. Ash discussed the OECD’s work on developing a Services Trade-Restrictiveness Index, a sector-by-sector database of trade-restrictive regulations.  He said it was especially important to encourage the BRIC countries to take part in this effort.  Mr. Safadi briefed members on the International Collaborative Initiative on Trade and Employment program, which is conducting a number of studies into the relationship between trade and jobs.  22 countries are participating in preparing papers on 24 themes.

On September 20, the World Trade Organization (WTO) and the International Labor Organization (ILO) launched Making Globalization Socially Sustainable, a publication that is the product of a collaborative two-year research program funded by the ICC Research Foundation, the research arm of USCIB affiliate the International Chamber of Commerce.

The book underlines globalization’s potential to stimulate productivity and growth, while highlighting the importance of pursuing trade, employment and social policies together in order to harness this potential. It contains contributions from leading academic experts who analyze the various channels through which globalization affects jobs and wages.

“The International Chamber of Commerce will draw from the findings of this research project to make concrete policy recommendations to G20 leaders,” said ICC Chairman Gerard Worms. “The ICC Research Foundation is very pleased to have supported this project, which will contribute to a better understanding of making globalization sustainable.”

The ICC Research Foundation was created in 2009 to fund independent research that contributes to public knowledge and debate, with the goal of improving economic conditions around the world. It also aims to promote a deeper understanding by policymakers, the media and the public of the benefits of global trade and investment.

Read more on ICC’s website.  Visit the WTO Online Bookshop to purchase a print copy of the publication.

Separately, WTO Director General Pascal Lamy told the ICC Executive Board on September 16 he was happy that cooperation ICC and the WTO has increased in recent years.  Mr. Lamy addressed the ICC Executive Board for more than an hour and then fielded questions from board members. He covered topics including the ICC-WTO working relationship, the Doha Round of trade negotiations, and issues surrounding protectionism and trade facilitation.

In addition to the above-mentioned book project, the ICC-WTO partnership has taken on various forms, with recent examples including ICC policy input on the topics of trade and investment, intellectual property and competition, ahead of the WTO Ministerial Conference on December 15-17.