Growth, Jobs and Open Markets Archives

Business Mobilizes Support for Sustainable Development at OECD Forum

Published on June 1, 2016
Robinson_OECDforum
USCIB President and CEO Peter Robinson

The business community is 100 percent on board with United Nation’s 2030 Sustainable Development Agenda and wants to contribute meaningfully, USCIB President and CEO Peter Robinson told the OECD Forum today, but companies need a stable and predictable policy environment in which to operate.

Held in Paris every year to coincide with the OECD Ministerial Council Meeting, the theme of which this year is “Enhancing Productivity for Inclusive Growth,” the OECD Forum has emerged as a major international conference. Leaders from all sectors of society, including former and current heads of state, CEOs, leaders of key NGOs and trade unions and prominent members of academia and media, gather to debate the most pressing social and economic challenges confronting society.

Robinson participated in a panel on the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs) and spoke about the private sector’s contributions to the global community’s objectives (full program here). The SDG agenda encompasses a wide array of inter-related economic, social and environmental issues. Governments – as well as non-governmental stakeholders – will need to adapt to new challenges and overcome intellectual and institutional silos. The business community, including USCIB, has helped to spearhead the private sector’s input to the development of the SDGs, and is working hard to mobilize and demonstrate business support around specific objectives.

“We have constructed a sophisticated platform, Business for 2030 for companies to learn how to support specific aspects of the Global Goals, and for policy makers and the development community to learn more about company projects and business initiatives in support of the SDGs,” Robinson told the audience.

A catalog of business engagement that showcases the private sector’s contributions to the SDGs, Business for 2030 features over 140 initiatives from 35 companies in over 150 countries of how businesses are helping to achieve 72 of the 169 SDG targets. The website highlights concrete initiatives and public-private partnerships to inspire renewed trust in the private sector, and to catalyze sustained and active business engagement in the 2030 Agenda for Sustainable Development.

Robinson also talked about the importance of adopting the right policy frameworks that make badly-needed investments in the developing world less risky. He said the policy tools and instruments of different international organizations, including those of the OECD, should be promoted among all countries, including the OECD’s Policy Framework for Investment (PFI) – a key checklist for policies that will encourage investment and growth in countries.

“Globally, official development assistance is dwarfed by foreign direct investment,” Robinson said. “We need to provide incentives for investment to flow where it can do the most good.”

Other speakers on the 2030 Agenda for Sustainable Development Panel included Martine Durand (OECD), Michael Elliott (ONE), Aart de Geus (Bertelsmann Stiftung), Alenka Smerkloji (Minister for Development, Slovenia), Helle Thorning-Schmidt (Save the Children International) and Peter Turkson (Pontifical Council for Justice and Peace).

The OECD Forum runs from May 31 to June 1 in Paris. USCIB is the U.S. affiliate of the Business and Industry Advisory Committee (BIAC) to the OECD. More information on the forum is available at the OECD’s website.

Read more: “10 Business Recommendations for Productivity, Prosperity and Inclusive Growth,” BIAC Statement to the OECD Ministerial Council Meeting 2016

40th Anniversary of the OECD Declaration on Multinational Enterprises

Published on June 1, 2016

investment_buildingsOn the occasion of its General Assembly, the Business and Industry Advisory Committee (BIAC) to the OECD will celebrate the 40th anniversary of the OECD Declaration on International Investment and Multinational Enterprises (MNEs), a policy commitment by adhering governments to promote an open and transparent environment for international investment and encourage the positive contribution multinational enterprises can make to economic and social progress.

The Declaration consists of four parts and is intended to balance public policy to promote an open international investment climate with a business commitment to responsible business conduct: the ‘national treatment’ principle, the commitment to minimize conflicting requirements, the commitment to cooperation in the field of international investment incentives and disincentives, and the OECD MNE Guidelines, the most comprehensive government-backed instrument for promoting responsible business conduct. The Declaration commits adhering countries to improve the investment climate, while companies are encouraged to apply the standards of responsible business conduct as set out in the Guidelines.

Business Can Help Shape the Future of Global Trade

Published on May 31, 2016

The following op-ed was published in the Wall Street Journal on May 26.

The World Trade Organization is seeking input from the private sector on the next steps for trade liberalization.

By ROBERTO AZEVÊDO And SUNIL BHARTI MITTAL

In the span of two short years, the World Trade Organization has given businesspeople around the world a number of reasons to sit up and take notice. Through a series of negotiated trade agreements, it has demonstrated that its efforts can bring massive, widespread benefits. Now the WTO is looking to work in closer partnership with the private sector to bring further gains to the international trade regime.

In 2013, WTO members delivered the Trade Facilitation Agreement. This was the first global trade deal in 18 years. Once ratified, it promises to slash red tape and reduce border delays. Trade costs will be lowered by an average of nearly 15%. Global trade could be lifted by as much as $1 trillion.

This impact is bigger than if every remaining tariff in the world were reduced to zero. Full implementation could create more than 20 million jobs and lift global gross-domestic-product growth by up to 0.5 percentage points. Businesses around the world will get a significant boost.

Then in 2015, a group of WTO members came together to free up trade on a range of information-technology products, including the latest-generation semiconductors, telecommunications satellites, medical devices and video games.

This deal, expanding the existing Information Technology Agreement, eliminates tariffs on approximately $1.3 trillion in annual exports. That’s more than the value of the global trade in automobiles.

That same year, WTO members agreed on a world-wide ban on export subsidies on agricultural products, the biggest agriculture-trade reform in 20 years. Governments had been spending up to $13 billion on these economically distorting subsidies each year. The private sector supported these deals, and their engagement made a huge difference in the outcome.

Before this recent flurry of breakthroughs at the WTO, businesses had very little interest in trade negotiations. Prolonged lack of progress in global trade negotiations had led many countries to focus elsewhere and pursue bilateral and regional trade initiatives. Such initiatives can deliver significant economic gains, but there’s no question that global agreements can deliver even more benefits to more people.

The private sector recognizes this. A complicated patchwork of overlapping trade regulations and standards is less efficient than global rules. That’s why business leaders want and need a strong WTO.

Shared rules and enhanced market access in 162 countries is something no regional trade agreement can offer. Now that the WTO has showed that it can deliver these results, private-sector interest is rising fast and businesses are asking: What’s next?

The precise shape of the WTO’s future negotiating work remains an open question. All members agree that long-standing differences in agriculture, industrial goods and trade in services must be tackled, and that development should remain a central priority.

But at present there’s no agreement on precisely how to proceed with these negotiations, or what specifically should be on the agenda. Areas for discussion include supporting trade by micro-, small- and medium-size enterprises; promoting and facilitating investments; supporting e-commerce; tackling fisheries subsidies; and lowering nontariff barriers.

In this context, the private sector has asked that its voice to be heard, not to dictate the agenda, but to provide perspective. Two major business organizations, the International Chamber of Commerce and the B-20 (the private-sector arm of the G-20) approached the WTO requesting a platform to discuss current trade issues and present their thoughts to WTO members.

That meeting, the first of its kind, will take place on Monday in Geneva. Business leaders from small and large enterprises, from developed and developing countries, along with other stakeholders, will brainstorm with WTO members. We hope that this interaction will help their governments as they shape the WTO’s future agenda.

In recent years the WTO has shown that, with the support of the private sector and others, it can achieve major, economically significant trade agreements. Strengthening this partnership will ensure that the WTO’s record is maintained and that it keeps delivering for growth, development and job creation around the world.

Mr. Azevêdo is the director-general of the World Trade Organization. Mr. Mittal is the first vice chairman of the International Chamber of Commerce.

ICC Welcomes New Dialogue with WTO

Published on May 31, 2016

switzerland-wto-general-councilThe International Chamber of Commerce (ICC) has today welcomed the conclusion of the World Trade Organization’s (WTO) first ever dialogue with the business community as an important step towards strengthening the global trade agenda.

The dialogue was initiated off the back of the successful outcome of the WTO’s ministerial conference in Nairobi last December, and in response to growing concern within the global business community about faltering global trade growth.

Addressing WTO members, ICC’s First Vice-Chairman Sunil Bharti Mittal said:”To be clear: business wants predictable, modern and up-to-date multilateral trade rules, negotiated and agreed at the WTO…Trade is expected to grow by less than 3 percent for the fifth consecutive year in 2016. We should not accept this as the new normal and we are ready to work constructively with WTO members to restore trade as a central driver of global growth.”

The first-of-its-kind event identified a broad range of possible WTO initiatives to help boost trade-led inclusive growth. These included:

SME growth

Business leaders encouraged the WTO to explore possible initiatives to make trade easier for small- and medium-sized enterprises (SMEs), going beyond trade facilitation reforms to identify where harmonized rules and end-to-end standards can help small businesses access global markets. Access to financing was also highlighted as a priority to support SME trade growth.

Investment

Many participants in the dialogue expressed an interest in a new WTO dialogue to explore the scope for global standards in the field of investment promotion, protection and facilitation.

Sectoral liberalisation

The dialogue highlighted an interest from a range of sectors in pursuing sector-specific talks as a complement to the ongoing Doha Round.

E-commerce

There was a strong call from business leaders for the WTO to play a central role in underpinning an open, reliable and secure global digital economy. Participants expressed particular interest in possible “e-commerce negotiations” which could encompass a broad range of issues such as customs duties, electronic signatures, data protection and localization requirements.

Speaking on the systemic importance of an e-commerce initiative, Mittal said:”The global nature of e-commerce means that the WTO has a vital role to play in the further development of rules and standards for this area. E-commerce has the potential to revolutionize global trade flows. Today, even the smallest of businesses can go global if they can access the Internet.”

At the conclusion of the dialogue, ICC has called on WTO members to maintain contacts with the business community in taking forward possible new trade talks and initiatives.

ICC Secretary General John Danilovich said: “We have seen a positive discussion today about how we can work together to maximize the contribution of trade and investment to achieving inclusive growth and sustainable development. We hope that today’s initiative can be followed up with concrete steps including further meetings of this kind. ICC stands ready to support this dialogue in any way possible.”

Trans-Pacific Partnership’s Vital Role in U.S.-Japan relations

Published on May 27, 2016

The following op-ed by USCIB President and CEO Peter Robinson and Kunio Ishihara, vice chairman of the Japanese business federation Keidanren, appeared in The Seattle Times yesterday on the economic and geopolitical benefits of the Trans-Pacific Partnership (TPP) for the United States, Japan and the Asia-Pacific region. Ishihara led a Japanese business delegation to Seattle and other U.S. cities this week.

You can view the op-ed on The Seattle Times’ website at http://www.seattletimes.com/opinion/trans-pacific-partnerships-vital-role-in-us-japan-relations/

North America Trade & Working Capital Conference

Published on May 26, 2016

We would like to invite you to attend the North America Trade & Working Capital Conference, as a guest of USCIB.

Venue: 32 Old Slip, Convene | New York, US
Date: June 16, 2016

Limited amount of complimentary corporate passes available for those who are exporters, importers, manufacturers, distributors, producers and traders of physical goods only. All others can receive a 15% discount with code: USCIB15

Returning to New York on June 16, GTR‘s annual conference incorporates a new twist for 2016. Corporate treasury, procurement, fintech and supply chain finance sectors will gather to discuss, debate and assess the key techniques being utilised to maximise efficiencies across physical and financial supply chains and international trade flows. Just some of the conference highlights are listed below.

Keynote address
Best-selling author on digital banking, Chris Skinner, will discuss the fintech revolution and examine the influence of key disruptive trends such as artificial intelligence, blockchain technology and cryptocurrencies.

Supplier Financing 2.0 
A selection of today’s leading players from the payable financing sectors will showcase their respective solutions via a 12 minute pitch, followed by an 8 minute Q&A, while an expert panel of supply chain leaders from Trade Advisory Network, Transammonia and Tanzor offer their thoughts on the benefits and drawbacks of each solution.

Receivables Finance Afternoon Workshop
The market’s leading receivables financing practitioners from HSBC, Terex, ANZ- America and GE Capital will illustrate how various techniques can benefit sales development, as well as outline practical use challenges / requirements.

Extensive networking opportunities throughout the conference will offer delegates unrivalled access to the market’s leading fintech thought-leaders, treasury and supply chain experts, and corporate decision-makers all under one roof.

Be sure to check out the brochure, available to download via the GTR website.

We look forward to seeing you there!

Speakers will include:

  • Chris Skinner, Chairman, The Financial Services Club
  • Andrea Williamson, Global Relationship Manager, Working Capital Solutions, GE Capital
  • Inwha Huh, Head of Global Trade& Receivable Finance (GTRF), US & Canada, HSBC
  • Gary Schneider, Senior Vice- President, Strategic Alliances, GT Nexus
  • Eric Frankovic, Vice-President, Global Sales, Taulia
  • Terry Peirce, Strategic Account Executive, PrimeRevenue
  • Glenn Kocher, Managing Director, LiquidX
  • Tony Brady, Managing Director and Global Head of Business Strategy & Market Solutions, BNY Mellon
  • Graham Smith, Assistant Treasurer, Terex
  • James Benfield, Senior Vice-President, Finance & Treasury, Transammonia
  • William R. Evans, Executive Director, Head of Transaction Banking, ANZ-America
  • John Monaghan, Global TradeProduct Manager, Citi

USCIB Receives President’s Award for Exporting Excellence

Published on May 23, 2016
L-R: U.S. Secretary of Commerce Penny Pritzker and Derek Leite, USCIB’s director of Trade Services
L-R: U.S. Secretary of Commerce Penny Pritzker and Derek Leite, USCIB’s director of Trade Services

On May 16, USCIB was recognized by the U.S. Department of Commerce as one of 123 organizations to receive the President’s “E” Award for exporting excellence during a ceremony in Washington, D.C.. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.

Secretary of Commerce Penny Pritzker honored USCIB during the ceremony for our work as an advocate of open markets and promoter of U.S. exports. Derek Leite, USCIB’s director of Trade Services, was on hand to receive the honors.

“USCIB has demonstrated a sustained commitment to export expansion,” said Secretary Pritzker in her congratulatory letter to the organization. “The “E” Awards Committee was very impressed with USCIB’s dedication to promoting international trade. The organization’s innovative work to implement the ATA Carnet was also particularly notable. USCIB’s achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs.”

In addition to USCIB’s policy work promoting growth, jobs and open markets, USCIB is the National Guaranteeing Association for the ATA Carnet, a customs document under which merchandise can be temporarily imported duty-free into the United States and many other countries. USCIB also offers a number of services designed to facilitate cross-border trade and investment. Learn more about USCIB’s Trade Services.

“This is a period of expanding use of ATA Carnets by U.S. companies,” said Leite at the award ceremony. “This spurs U.S. exports worldwide, and helps to smooth the flow of global commerce. We would like to thank our ATA Carnet issuing providers, Boomerang Carnets and Roanoke Trade, for their persistent efforts to help grow ATA Carnet usage in the United States and around the world.”

Read the press release by the U.S. Department of Commerce

USCIB Welcomes International Trade Commission Report on Trans-Pacific Partnership

Published on May 19, 2016

Washington, D.C., May 18, 2016 – The United States Council for International Business (USCIB) welcomed today’s release of a long-awaited report by the U.S. International Trade Commission (ITC) on the economic impact of the Trans-Pacific Partnership (TPP). USCIB said that the report’s publication represents a further step in the process of Congressional review and ultimate ratification of the landmark 12-nation agreement.

“Like others in the trade community, it will take us some time to scrutinize and digest this substantial study, but this is an important step in the process” said USCIB President and CEO Peter M. Robinson. “We are confident that TPP will be, on balance, a plus for American workers and companies and the growth of the American economy. We support the continued process to move the agreement forward, and encourage Congress to review the ITC’s findings closely and weigh all aspects of this important, 21st-century trade agreement.”

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 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.

Contact:

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

USCIB Recognized with Presidential-Level Export Award

Published on May 13, 2016

New York-based United States Council for International Business honored as one of 123 companies nationwide for success in exporting and export service

This press release was issued by the U.S. Department of Commerce

L-R: U.S. Secretary of Commerce Penny Pritzker and Derek Leite, USCIB’s director of Trade Services
U.S. Secretary of Commerce Penny Pritzker (left) presents the President’s “E” Award to Derek Leite, USCIB’s director of trade services.

New York, N.Y., May 16, 2016 –  United States Council for International Business (USCIB) was recognized today as one of 123 companies and organizations to receive the President’s “E” Award for exporting excellence during a ceremony in Washington, D.C..

Honoring USCIB was Secretary of Commerce Penny Pritzker for their work as an advocate of open markets and promoter of U.S. exports. Derek Leite, USCIB’s director of Trade Services, was on hand to receive the honors from the Secretary.

“USCIB has demonstrated a sustained commitment to export expansion,” said Secretary Pritzker in her congratulatory letter to the company. “The “E” Awards Committee was very impressed with USCIB’s dedication to promoting international trade. The organization’s innovative work to implement the ATA Carnet was also particularly notable. USCIB’s achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs.”

The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.

“This is a period of expanding use of ATA Carnets by U.S. companies,” said Leite. “This spurs U.S. exports worldwide, and helps to smooth the flow of global commerce. We would like to thank our ATA Carnet issuing providers, Boomerang Carnets and Roanoke Trade, for their persistent efforts to help grow ATA Carnet usage in the United States and around the world.”

Carmela Mammas, director of the U.S. Commercial Service New York, said this type of recognition highlights how hard businesses and organizations in The Empire State are working to be successful in a globalized economy.

“Congratulations to the United States Council for International Business on their well-deserved “E” Award,” said Mammas. “USCIB has played a crucial role in strengthening and growing our economy by providing export promotion services to the business community. They should be proud of this extraordinary achievement.”

The “E” Award ceremony is one of the highlights of World Trade Month, a month-long celebration of the benefits that U.S. exports bring to national, state, and local economies through job creation and growth.

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 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.

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

US Labor Secretary Talks TPP at USCIB Meetings

Published on May 9, 2016
(Photo credit: U.S. Department of Labor)
L-R: Ariel Meyerstein (USCIB), Laura Rubbo (Disney), Thomas Perez (US Labor Department), Ronnie Goldberg (USCIB), Kevin Coon (Baker & McKenzie) (Photo credit: U.S. Department of Labor)

USCIB members and government officials gathered in Washington, D.C. on May 3 and 4 to review several important upcoming events and initiatives regarding labor policy, business and human rights, and corporate social responsibility. Convening at the offices of Baker & McKenzie for the first of two yearly meetings, USCIB’s Corporate Responsibility Committee and Labor and Employment Policy Committee discussed member priorities and concerns about upcoming transnational regulatory events and initiatives throughout 2016.

On May 3, U.S. Secretary of Labor Thomas Perez briefed members on a wide range of international labor policy issues. He expressed support for the Trans-Pacific Partnership (TPP), saying it has the strongest labor provisions of any trade agreement the United States has ever negotiated, and noted he expects TPP to pass, but not without continued advocacy and support from the business community. Perez also made a pitch for apprenticeships to help spur youth employment, saying apprenticeships are broadly applicable in many different sectors. The current administration has backed-up its belief in job training and skills development with a $175 million new grant-making initiative.  And he argued America needs to do more on progressive paid leave for mothers to include more women in the workforce to keep the United States competitive with its peers. USCIB is actively involved in all these areas at the global level, particularly on apprenticeships, which it has advanced by helping establish the Global Apprenticeships Network (GAN) through its global partner, the International Organization of Employers (IOE). Eric Biel and Mark Mittelhauser of the Bureau of International Labor Affairs accompanied Secretary Perez and remained on hand to answer member questions.

Laura Chapman Rubbo (Walt Disney) chaired the committee meetings while USCIB Vice President for Labor Affairs, Corporate Responsibility and Corporate Governance Ariel Meyerstein facilitated the discussions. On the first day of meetings, members reviewed developments at the International Labor Organization (ILO), including the update of the ILO Multinational Enterprise Declaration and the General Discussion on Decent Work in Global Supply Chains that will take place at this June’s International Labor Conference; legal developments related to the United Nations Guiding Principles on Business and Human Rights; international tax avoidance and how it relates to illicit financial flows and human rights and development, and future of work developments at the OECD. Other government guests included Lewis Karesh, assistant U.S. Trade Representative for Labor Affairs, who briefed members on TPP’s labor provisions.

On the second day, members listened to presentations about new empirical studies benchmarking company responses to human trafficking regulation, international policy developments and company initiatives around ethical recruitment, public-private partnerships with USAID on labor rights capacity-building, partnerships with the U.S. Department of Labor’s International Labor Affairs Bureau, and new software for issues management, benchmarking and stakeholder engagement. Government guests included Bama Athreya of USAID’s s Center of Excellence on Democracy, Human Rights and Governance and acting division chief of labor and employment rights; Prairie Summer of USAID’s Global Development Lab; Ana Aslan, global coordinator of the Better Work Program at the U.S. Department of Labor; and Josh Kagan, senior labor advisor for trade policy at the U.S. Department of Labor.

USCIB’s Labor Policy and Corporate Responsibility Committees will reconvene in early Fall 2016. The Committee will also have a substantial role in the upcoming 9th Annual Engaging Business Forum in Atlanta, hosted by the Coca-cola Company. For more information on the committee’s work and meetings please contact Ariel Meyerstein at ameyerstein@uscib.org.