Growth, Jobs and Open Markets Archives

USCIB Urges Obama to Prioritize TFA

Published on October 1, 2014

4844_image001President Obama met with Indian Prime Minister Narenda Modi for the first time on September 30 to discuss U.S.-India relations.

Although trade issues accounted for a small part of their sessions, Modi reaffirmed India’s position in the struggle to implement the World Trade Organization’s Trade Facilitation Agreement, refusing to back down from his push to shield India’s food security programs from the TFA’s legal challenges. Both leaders were hopeful for a resolution to the impasse but made no firm commitments.

Prior to Modi’s meeting with Obama, USCIB joined other trade associations in signing a letter to President Obama urging the president to prioritize the TFA. The letter underscores the importance of the agreement and notes that India’s actions not only undermine the global trade system, but also call into question the future of WTO multilateral agreements.

“We were hopeful that during the Prime Minister’s visit, progress would have been made on the current impasse with India,” said Kristin Isabelli, director of customs and trade facilitation at USCIB. “It is vital that a path forward is found for the future and credibility of the WTO.”

USCIB signed the letter along with the Express Association of America, the National Foreign Trade Council and the National Association of Manufacturers.

WTO members signed on to the TFA last December as part of a package of trade reforms agreed to at the Bali ministerial. Once adopted, the TFA would streamline global customs procedures, committing developing and least developing countries to facilitate imports with aid from the developed world. The agreement is also estimated to add $1 trillion to the global economy and create 18 million jobs in developing countries. India stunned the international community when it blocked implementation of the TFA in July as it sought to leverage new concessions on food subsidies. WTO members have since failed to resolve the stalemate.

“With an agreement that would create millions of jobs and specifically help least developing countries and developing countries, it is highly disappointing that progress couldn’t be made on finding a solution to this impasse with India,” said Isabelli.

Read the letter.

Staff contact: Rob Mulligan and Kristin Isabelli

More on USCIB’s Trade and Investment Committee
More on USCIB’s Customs and Trade Facilitation Committee

ICC Brings Antitrust Compliance Advocacy to China and Brazil

Published on September 30, 2014
ICC updates Chinese agencies on its antitrust compliance and advocacy work.
ICC updates Chinese agencies on its antitrust compliance and advocacy work.

With the rapid growth of antitrust legislation around the world in recent years, many businesses struggle to comply with laws that punish anticompetitive behavior. To help companies embed a culture of compliance within their operations, last year the International Chamber of Commerce issued its Antitrust Compliance Toolkit, which provides tools and advice for companies of all sizes seeking to create or strengthen an antitrust compliance program.

In August 2014, ICC met with competition authorities in China and in Brazil to discuss the toolkit and related compliance advocacy. To date, ICC has unveiled the toolkit through workshops in several countries, including the United States.

The ICC Commission on Competition gathers over 300 competition law experts from 40 countries. The commission launched the Task Force on Antitrust Compliance and Advocacy in 2011, an initiative that has developed practical toolkits on antitrust compliance and contributes to deepening the discussion and thought leadership with all stakeholders.

ICC Meets Competition Authorities in China

In China, the ICC Task Force on Compliance and Advocacy met with several Chinese agencies, accompanied by a delegation of ICC corporate members and representatives from ICC China and from the University of International Business and Economics of Beijing. Anne Tubbs, co vice-chair of the task force, said “ICC is delighted by the very positive welcome it received and the level of interest Chinese agencies showed in the Toolkit and related compliance advocacy work.”

Tubbs noted that the Chinese government is aware of the challenges companies face in mitigating compliance risks through internal controls. “A proactive focus on compliance, as a means of preventing anti-competitive conduct, can help embed a strong compliance culture across all markets, to the ultimate benefit of consumers,” she said. “ICC will continue to explore means of contributing to such efforts in China with assistance from local experts and advocates.”

Tubbs noted that the Chinese government is aware of the challenges companies face in mitigating compliance risks through internal controls. “A proactive focus on compliance, as a means of preventing anti-competitive conduct, can help embed a strong compliance culture across all markets, to the ultimate benefit of consumers,” she said. “ICC will continue to explore means of contributing to such efforts in China with assistance from local experts and advocates.”

The Chinese agencies – which included the Anti-Monopoly Bureau of the Ministry of Commerce, the national Development and Reform Commission, and the State Administration for Industry and Commerce – invited ICC to prepare a Chinese version of the Antitrust Compliance Toolkit and to remain in close contact for the future launch of such materials, as well as other initiatives including the development of guidance tailored to SMEs.

ICC Participates in High-Level Seminar on Compliance Law in Brazil

Hosted by the Center of Social and Economic Law Studies and the Brazilian Administrative Council for Economic Defense (CADE), ICC participated in a seminar from August 28-29 in Sao Paulo to address competition law and policy and corporate compliance initiatives. The event brought together legal experts and representatives from the private sector, competition authorities, and national and international organizations.

Both private sector and agency speakers recognized the ICC Antitrust Compliance Toolkit as an invaluable benchmark for corporate compliance initiatives, serving the antitrust community worldwide. Much attention was also given to SMEs, noting that they deserve particular consideration as limited resources make it harder to develop and embed a successful competition culture. Simone Pieri, one of the contributors to the ICC Antitrust Compliance Toolkit, announced at the seminar that ICC will soon be rolling out an SME version of the toolkit.

As for the promotion of a competition culture, it was acknowledged that companies and lawyers have an important role to play. Speakers stressed that competition agencies should also promote competition culture through their decisions. The need to promote the globalization of competition compliance legislation and build international consensus and coherence on how to treat compliance programs garnered considerable attention from participants.

Staff contact: Rachel Spence

More on USCIB’s Competition Committee

USCIB Issues Statement on China’s WTO Commitments

Published on September 30, 2014

4847_image002The economic relationship between the United States and China is both vital and complex, and U.S. business holds an important stake in this relationship’s success. China’s emergence as one of the world’s largest economies means that its policies have a direct impact on its trading partners.

American engagement and exchange of best practices with the Chinese government and business community have proven to be a productive approach to addressing both countries’ common challenges and responsibilities.

Since China joined the World Trade Organization in 2001, the United States Trade Representative is required to submit a yearly report to Congress on China’s compliance and commitments to its WTO accession. USCIB submitted a statement to USTR providing member feedback, comments and recommendations on Chinese compliance with WTO commitments.

USCIB commends the U.S. and Chinese governments for positive and consistent work in ongoing bilateral dialogues, as well as the significant efforts China has made since joining the WTO to meet its obligations under the terms of its accession agreement. However, there still remain general WTO obligation compliance concerns. Broad concerns are listed below, excerpted from USCIB’s statement.

China’s Antimonopoly Law

Chinese authorities are using a variety of policy tools, which include technology standards, antitrust rules and intellectual property policies to protect and promote Chinese companies. USCIB members urge the U.S. government focus more on this issue and its effects on U.S. companies.

Intellectual Property Rights

While USCIB members acknowledge improved IPR laws and combating of IPR violations in China, there continue to be major concerns across industry sectors such as in audiovisual, software, agricultural biotechnology and chemicals. USCIB members urge the U.S. to continue to press for increased protection of IPR through better coordination and enforcement by Chinese authorities.

National Treatment

USCIB members continue to call on China to abide by their WTO commitments of national treatment and non-discrimination and ensure a competitive market that allows for foreign business participation.

Regulatory Environment

USCIB members expect Chinese authorities to fairly and transparently develop, promulgate and enforce regulations and other legal norms. However, USCIB members continue to experience business obstacles related to institutions, frameworks and regulatory enforcement. Improved coordination among regulators in China would benefit USCIB member companies by creating a more transparent and predictable framework.

State-Owned Enterprises

As they increasingly compete with Chinese SOEs, both in China, third markets and in the United States, companies believe that it is critical that the U.S. government use all available tools in dialogues with China and in other forums to press for level playing fields as they compete with these entities globally.

Staff contact: Justine Badimon

More on USCIB’s China Committee

Coalition for Green Trade Hosts Environmental Goods Agreement Launch Event on Capitol Hill

Published on September 19, 2014
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Ambassador Michael Froman speaks about the Environmental Goods Agreement as Senator Wyden and Congressman Blumenauer look on.

On September 17, 2014, the Coalition for Green Trade, co-chaired by the United States Council for International Business (USCIB), the National Association of Manufacturers (NAM) and the National Foreign Trade Council (NFTC), hosted an event on Capitol Hill to celebrate the launch of Environmental Goods Agreement (EGA) negotiations under the purview of the World Trade Organization (WTO) in Geneva.

The event featured comments by United States Trade Representative Ambassador Michael Froman, Senate Finance Committee Chairman Ron Wyden, House Ways and Means Committee Chairman Representative Dave Camp, and Representative Earl Blumenauer.

Chairman Wyden opened the event by saying, “[a]n ambitious environmental goods deal that brings down tariffs could make a real difference for American companies, American workers, and for the planet.”  He expressed support for the EGA initiative, noting that “with hard work by Ambassador Froman and his team,” the global economy and the environment can each benefit from the agreement soon.

Ambassador Froman said that by facilitating trade in environmental goods, “we can promote technologies that allow better access to safe water, sanitation, and clean energy. We can encourage countries to adopt strategies for sustainable development and help drive innovation that could lead to even cleaner technologies.” He also explained that the EGA represents an effort to simultaneously grow the global economy and protect our environment. “When it comes to defending our environment, protectionism is no protection.”

The Coalition co-chairs introduced the various speakers and provided their own comments in support of these important negotiations. Rob Mulligan, USCIB’s senior vice president for policy and government affairs emphasized the hope for a swift outcome and an agreement that will serve as a platform to spur technological innovation. “The support of the business community in these negotiations is crucial to ensure an ambitious agreement that captures the full range of environmental technologies and products,” he said, noting that some of those products were on display at the back of the room.

General Electric, for example, displayed information on their E- and F-class gas turbines which convert natural gas into power in plants all over the world.

He also introduced two industry representatives: Timothy J. Regan, senior vice president of worldwide government affairs at Corning, and Joe McSwiney, president of Cascade Designs, who presented their respective technologies that stand to benefit from a successful agreement.

For further information on the EGA, please read USTR’s Fact Sheet. For further information regarding USCIB’s efforts on the EGA, please contact Eva Hampl, Director, Investment, Trade and Financial Services.

More on USCIB’s Trade and Investment Committee

Realize TFA Benefits Without Delay ICC Tells Trade Negotiators

Published on September 18, 2014

4834_image002The International Chamber of Commerce (ICC) is appealing to trade negotiators, reconvening this week in Geneva, to find a way forward to implement the World Trade Organization’s Trade Facilitation Agreement (TFA) following the breakdown in talks in July.

Terry McGraw, ICC and USCIB chairman, said: “We urge WTO members to bridge the gap necessary to get the Trade Facilitation Agreement in place. There is no logic in delaying implementation of a deal that could add a possible $1 trillion to global GDP—generating millions of jobs in the process.”

July’s missed deadline came as a huge disappointment to the global business community, but ICC has emphasized that a deal is still possible in the weeks ahead.

McGraw added: “Despite the procedural impasse, we are still seeing many developing economies pressing ahead with plans to implement the agreement. This progress should not be forgotten and should drive momentum to make further progress in the coming weeks.”

An essential tool to boost cross-border SME sales

In a recent letter to trade ministers, ICC pointed out that trade facilitation reforms will enable many companies to trade internationally for the first time, particularly as the Internet opens up new market opportunities for small and medium-sized enterprises to connect with customers across borders.  Indeed, research suggests that improved border and customs measures could trigger a 60-80 percent increase in cross-border SME sales in some economies.

John Danilovich, ICC secretary general, said: “In the case of India, these benefits are especially clear. To take just one example, it is estimated that Indian companies currently suffer a 30 percent cost disadvantage compared to Chinese firms when shipping garments to the United States due to port and customs inefficiencies.”

Danilovich added: “Implementation of the TFA would place Indian firms on a much more even footing in the global marketplace—enabling many companies, particularly small enterprises, to trade internationally for the very first time.”

Opening the way for food security talks

Within the ongoing negotiations, the international business community fully recognizes the importance of reaching an agreement on the food security commitments contained in the Bali package.

“It is ICC’s view that legal adoption of the TFA would provide a conducive environment within the WTO to conclude a workable agreement on this vital issue in the coming months. Importantly, this would allow for discussions on remaining aspects of the post-Bali trade agenda,” said Danilovich.

“The TFA itself offers the potential to address related food security issues in view of provisions to ensure that perishable goods receive expedited clearance at borders.  These hard-won provisions—which would benefit many of the world’s poorest—risk being lost indefinitely if adoption of the TFA is deferred or delayed,” he added.

ICC has pledged unfaltering commitment to a strong, rules-based multilateral trading system embodied by the WTO and is dedicated to ensuring that global business plays an active and constructive role in working with WTO members to help strengthen WTO rules and adapt them to the needs of 21st century trading.

Staff contact: Robert Mulligan

More on USCIB’s Trade and Investment Committee

More on USCIB’s Customs and Trade Facilitation Committee

OECD Releases First Set of Deliverables on BEPS Project

Published on September 17, 2014

4833_image002Launched last year to revisit the rules applicable to the taxation of cross-border enterprises, the OECD (Organization for Economic Cooperation and Development) project on “base erosion and profit shifting” (BEPS) aims to prevent incidences of non-taxation by developing a single, coherent and fair set of rules that ensure companies pay what they owe without creating unnecessary costs or double taxation.

Yesterday, the OECD released its first set of BEPS recommendations to the G20.

The Business and Industry Advisory Committee (BIAC) issued the following media release:

BIAC broadly welcomes the first set of BEPS consensus reports and recommendations released by the OECD on seven areas of the BEPS Action Plan.

The OECD released yesterday its first recommendations for a co-ordinated international approach to combat tax avoidance under the OECD/G20 Base Erosion and Profit Shifting Project (BEPS).

We welcome the acknowledgement from the OECD that the proposals contained within the seven deliverables are not yet formally finalized as they may be impacted by some of the decisions taken with respect to the 2015 deliverables with which they interact.

We also fully support the OECD’s recognition that rules should not result in double taxation, unwarranted compliance burdens or restrictions to legitimate cross-border activity, which is more important than ever to protect and grow our global economy.

With the release of the seven 2014 deliverables, we caution against governments acting too rapidly to implement recommendations into domestic tax legislation until further implementing guidance has been provided and the interactions with future action items is understood. This would risk creating a series of disparate rules that could negatively impact trade and investment.

BIAC looks forward to continuing its close and constructive work with the OECD on its BEPS project throughout 2015, representing the important views of the international business community.

Staff contact: Carol Doran Klein

More on USCIB’s Taxation Committee

USCIB Urges Congress to Clear Ambassador Backlog

Published on September 15, 2014

American business leaders appreciate the support of United States embassies on commercial, investment and trade matters. U.S. business is concerned with the current backlog of ambassadorial nominees, since those embassy vacancies represent lost opportunities for American business and investment abroad.

USCIB joined the American Foreign Service Association, the Business Council for International Understanding and the International Stability Operations Association in signing a letter to Senate leaders urging them to swiftly confirm the career members of the Foreign Service for the ambassador positions for which they have been nominated. As of today, 37 career nominees for ambassadorships are awaiting confirmation in the Senate. USCIB and its partners called on the Senate to confirm all career nominees before they recess for mid-term elections.

Read the letter to Senate leaders.

Staff contact: Shaun Donnelly

More on USCIB’s Trade and Investment Committee

USCIB Rolls Out ICC Antitrust Toolkit in the United States

Published on September 9, 2014
(L-R) Anne Riley (Shell), Brent Snyder (U.S. Department of Justice), John Taladay (Baker Botts), Jennifer Patterson (Kaye Scholer LLP)
(L-R) Anne Riley (Shell), Brent Snyder (U.S. Department of Justice), John Taladay (Baker Botts), Jennifer Patterson (Kaye Scholer LLP)

Antitrust laws – which are designed to control anti-competitive practices such as price-fixing and dividing markets – have proliferated rapidly around the world in recent years, reflecting society’s increasing ethical expectations about the governance of business conduct. Managing the growth of these legal compliance requirements is challenging for all businesses without the right tools to foster a compliance culture.

Designed by business for business, the ICC Antitrust Compliance Toolkit provides valuable guidelines for small and medium sized enterprises (SMEs) and larger companies wishing to build or reinforce a robust compliance program.

On September 9, USCIB and the International Chamber of Commerce co-sponsored a program for the official rollout of ICC’s Antitrust Compliance Toolkit. The Compliance Toolkit received acclaim in many jurisdictions and has been unveiled in 8 other countries: Austria, Belgium, Canada, France, Malaysia, Netherlands, Switzerland and the United Kingdom. Hosted by Kaye Scholer in New York City, the U.S. event featured keynote speaker Brent C. Snyder, deputy assistant attorney general for criminal enforcement at the antitrust division of the U.S. Department of Justice.

The following antitrust experts also served as panelists during the event: John M. Taladay, partner at Baker Botts and chair of the USCIB Competition Committee, Anne Riley, group antitrust council at Shell International, Charles Webb, senior director of international antitrust compliance at Wal-Mart, Aimee Immundo, senior counsel of competition law and compliance at General Electric, Scott Hemphill, law professor at Columbia Law School, and Jennifer Patterson, partner at Kaye Scholer LLP and vice chair of the USCIB Competition Committee.

Participants discussed the importance of business executives committing to a solid and credible antitrust compliance program, regardless of the company’s size. Following Snyder’s keynote address, Riley presented the ICC Antitrust Compliance Toolkit. Attendees then participated in a case study exercise designed to assess the anticompetitive risks of a hypothetical company in three different jurisdictions. The event concluded with a panel discussion on corporate compliance programs, with input from USCIB members.

Keynote speaker Brent Snyder (DOJ) explained that the purpose of having an effective compliance program is to be a responsible corporate citizen.
Keynote speaker Brent Snyder (DOJ) explained that the purpose of having an effective compliance program is to be a responsible corporate citizen.

“Effective Compliance Programs Prevent Antitrust Violations”

As the Department of Justice’s top authority responsible for antitrust laws against cartels, Brent Snyder gave keynote remarks about the importance of crafting an effective antitrust compliance program that prevents violations from happening in the first place. He stressed that a business’s senior management must be committed to antitrust by cultivating a culture of compliance within the organization. CEOs must lay the foundation for a corporate culture of compliance in order for such a program to work.

“The best way to stop a crime is to stop it before it happens,” said Snyder. “Effective compliance programs prevent antitrust violations.”

Snyder noted that the consequences for violating antitrust laws are severe, and that businesses should be aware of the liabilities at stake if an employee breaks antitrust laws. He said that businesses need to be proactive about their compliance programs and that they should pay special consideration to how they approach violators.

He concluded by urging businesses not to think about compliance programs as a “stick” or as a punishment. Rather, “the purpose of having an effective compliance program is to be a good and responsible corporate citizen.”

Snyder explained that the consequences of ineffective antitrust compliance are within the company’s power to control. To that end, the ICC Toolkit is a valuable resource.

“They’re very good tools,” Snyder said about the toolkit. “They’re excellent.”

ICC AntitrustICC Antitrust Compliance Toolkit

The ICC Toolkit, presented at the event by Riley, offers useful guidelines for businesses big and small on how to create an antitrust compliance program and how to strengthen an existing program.

“What this is about is behaving ethically and doing business ethically,” she explained.

The toolkit also covers the importance of getting senior management to support the compliance program, and suggests that a company’s antitrust officers consult with finance departments to help identify areas where there is legal risk of antitrust violations.

Riley noted that “compliance know-how” is a must for business executives, and that companies should make clear why it is in their interest to champion and comply with antitrust rules. All businesses need a consistent, ongoing commitment to compliance from both management and employees, she concluded.

The ICC Toolkit is available for download in English and French at the ICC website. It will soon be translated into several other languages as well.

(L-R) Aimee Immundo (General Electric), Scott Hemphill (Columbia Law School), Charles Webb (Wal-Mart)
(L-R) Aimee Immundo (General Electric), Scott Hemphill (Columbia Law School), Charles Webb (Wal-Mart)

Corporate Compliance Programs

Following a case study exercise that asked participants to assess a hypothetical company’s anticompetitive legal risks, the event concluded with a panel discussion about corporate compliance programs. Panelists included Charles Webb, senior director of international antitrust compliance at Wal-Mart, Aimee Immundo, senior counsel of competition law and compliance at General Electric and Scott Hemphill, law professor at Columbia Law School.

Webb explained that large corporations like Wal-Mart are interested in knowing how to implement “a world class antitrust program,” and he used the ICC Toolkit to that end.

Immundo stressed that the human aspect of compliance is hugely important but difficult to quantify. She warned that people have gone to jail for antitrust violations and that it is crucial for businesses to carefully monitor their horizontal relationships so that executives don’t wander into potentially dangerous anticompetitive territory with their peers.

A recurring theme throughout the event was that it is challenging to get business people interested and fired up about antitrust compliance. Hemphill suggested that companies provide vivid examples to employees about the personal risks and consequences of violating antitrust rules. He lauded the ICC Antitrust Toolkit for helping to generate interest in compliance.

Staff contact: Justine Badimon

More on USCIB’s Competition Committee

Business Urges G20 to Support Private-Sector Led Growth and Job Creation

Published on September 9, 2014

Two machinists working on machineLeaders of USCIB’s global network have urged G20 governments to pursue an agenda of smarter regulation, labor market flexibility, and eliminating barriers that inhibit entrepreneurs from starting and growing businesses.

Daniel Funes de Rioja, President of the International Organization of Employers (IOE), and Phil O’Reilly, chair of the Business and Industry Advisory Committee (BIAC), addressed the G20 Labor and Employment Ministers in Melbourne on Wednesday as part of the B20 delegation, pointing to the potential of private-sector led growth and job creation.

At the meeting, Steve Sargent, member of the Australian B20 Leadership Group, and coordinating Chair of the B20 Human Capital Task Force, led the business presentations, emphasizing key B20 recommendations including the need for structural flexibility, consistent and effective business regulation and for dismantling the barriers inhibiting entrepreneurs from starting and growing businesses and creating jobs.

Funes de Rioja stressed that the IOE, as a key contributor to the B20, stands firmly behind the B20 recommendations: “What is essential now to encourage business is that governments pursue an agenda of smarter regulation, simpler administrative requirements, and short-term incentives”. He also echoed B20 support for the inclusion of occupational safety and health on the G20 agenda, recommending that national efforts focus on prevention, rather than sanctions. For this, he said, information and accessible advisory services were needed, especially for SMEs, citing the Promotional Framework for Occupational Safety & Health Convention 187 of the International Labor Organization as a useful tool.

O’ Reilly urged governments to “remove restrictions on businesses offering different types of employment arrangements in response to changing needs”. Referring to the newly-released joint IOE-BIAC (Business and Industry Advisory Committee) monitoring report, he encouraged G20 to improve on the implementation of policy commitments. “What is important is that actions lead to positive results, and we call on governments to move forward with bold reform measures based on the commitments made in the G20 labor process”. He also cited the Global Apprenticeships Network, a business initiative led by companies and representative business organizations to promote quality apprenticeships, adding that “Government dialogue and engagement in these efforts is critical to success.”

More on USCIB’s Corporate Responsibility and Labor Affairs Committee

IOE President Promotes Youth Employment at G20

IOE factsheet_IOE at a glance eng v_09.inddMore than 75 million youth are unemployed worldwide. Long-term youth unemployment increases the risk of social exclusion well into adulthood and poses broader threats to national productivity, growth and development.

Addressing a B20 Roundtable in Melbourne, Australia on September 9, Daniel Funes de Rioja, president of the International Organization of Employers, called for key actions governments can take to bring about the right conditions for job creation. As a participant in the B20 Human Capital Taskforce, he underscored two areas he particularly wanted to see addressed: structural reform to enhance labor market flexibility and better alignment between prospective employees’ education and the needs of business.

Funes de Rioja also reminded the audience of the part played by the business community in youth workforce development with the launch of the Global Apprenticeships Network (GAN), a coalition of companies that offers apprenticeships to young workers and shares youth employment best practices with other companies and labor administrations.

“Government reforms in both areas are needed in order to open up opportunities for newcomers to enter the labor market, to allow companies to adapt in line with demand, and restore their confidence to hire,” he said. “To date, we have seen progress in terms of implementation of measures to align skills training with labor market needs.” But he added, “focusing on the supply side alone will not bring about a labor market that meets the needs of employers and workers in the 21st century.”

In June 2013, the B20 and L20 reached consensus on the need for a global apprenticeships network to combat long-term youth unemployment. “Global business, through the Business and Industry Advisory Committee to the OECD and the IOE, has since moved forward with launch of the GAN,” said Ariel Meyerstein, USCIB’s vice president for labor affairs, corporate responsibility and corporate governance. “It’s time for countries to meet business half-way to further incentivize and support apprenticeship programs throughout the G20.”

Funes de Rioja concluded by reiterating the position of the B20 Human Capital Taskforce: “Businesses face structural challenges to increasing employment. Dismantling the regulatory barriers that restrict diverse forms of employment is in the interest of businesses and job seekers alike and we hope the G20 governments will not waver from their commitment in this regard.”

Exploring New Approaches To Trade Investment and Jobs Event Description

Published on September 8, 2014

ABOUT THE EVENT

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The OECD is recognized and respected by policymakers and business leaders around the world for its fact-based economic analysis and policy recommendations over a wide range of issues. OECD has developed international standards covering areas from agriculture and tax to the safety of chemicals.  But nowhere is the work of the OECD more critical than in the areas of trade and investment.  Governments know that unleashing private sector investment and trade is an essential driving force for economies to achieve inclusive, sustainable growth. They look to the work of the OECD in deciding which policies can most effectively open markets for their businesses.

As companies have adapted to political, technological and economic changes by creating global value chains to remain competitive, the pathbreaking work of the OECD on Trade in Value Added (TiVA) has been critical to understanding the policy changes needed to deal with this new reality.  As services have become an ever larger part of the global economy, the OECD Services Trade Restrictiveness Index (STRI) provides the information governments need to tackle services regulatory barriers in trade negotiations such as the Transatlantic Trade and Investment Partnership (TTIP) or the Trade in Services Agreement (TiSA).  The OECD works closely with business through the U.S. Council for International Business (USCIB) and Business and Industry Advisory Committee to OECD (BIAC) in gathering the data and understanding of business practices it needs to develop practical recommendations for government policies that will open up trade and investment .

The USCIB Foundation, BIAC and the OECD are jointly hosting a one-day conference in Washington, D.C. on October 30, 2014 to highlight the innovative work that OECD is doing in the areas of trade and investment and to discuss how this work impacts policy and trade negotiations around the world.  This program will bring together experts from OECD, U.S. and foreign governments, and business on global value chains, services trade barriers, investment agreements, trade facilitation, and the relationship between regional and multilateral trade negotiations.  Speakers will draw on OECD studies in discussing the current and future direction of global trade and investment policies.

This program will be taking place at a critical time for negotiations in the WTO, TPP, TTIP, and TiSA.  It will provide a unique opportunity for participants to gain insights into the policy challenges being addressed in these negotiations and the prospects for success in further opening global markets for trade and investment.