Policy Areas Archives

Shiles to Promote Trade Services at World Chambers Congress

Published on September 18, 2017
This year’s World Chamber Congress is taking place in Sydney, Australia

The International Chamber of Commerce (ICC) kicks off the tenth installment of its biennial World Chambers Congress this week in Sydney, Australia, which will bring over 1,200 delegates from across the globe to discuss challenges impacting the business and chamber communities and to exchange knowledge and expertise while promoting result-oriented innovation. In an ever-changing business climate, the Congress, with its high level speakers, addresses and examines today’s most significant global issues.

Among them will be USCIB’s Senior Vice President for ATA Carnet and Trade Services Andy Shiles who will be attending ATA Carnet global management meetings in Sydney. Stay tuned for next week’s e-newsletter for a report from the field!

New South Wales Premier Gladys Berejiklian will officially opened the World Chambers Congress. While the Congress is taking place in Australia during the United Nations General Assembly in New York, ICC First Vice-Chair and Corrs Chambers Westgarth Partner and CEO John W.H. Denton acknowledged the important discussions taking place in New York and called on business and chamber leaders to show support for the UN Sustainable Development Goals and help ensure that businesses worldwide are doing all they can —in their daily operations and investments—to drive their implementation.

The #10WCC is jointly organized by the Sydney Business Chamber, a division of NSW Business Chamber and the ICC.

OECD Business Communicators to Meet in Ireland

Published on September 18, 2017
Dublin’s Samuel Beckett Bridge: The Irish capital will welcome business communicators from across the OECD.

Continuing its efforts to re-frame the global narrative on trade and economic openness, on October 12-13, Business at OECD (BIAC) will hold its 2nd Heads of Communications Roundtable in Dublin and Cork, Ireland, in cooperation with its Irish member Ibec . This is a two-day program for heads of communications from BIAC’s global membership, and USCIB company representatives are encouraged to attend.

“The roundtable will include a series of meetings, company visits, and guest speakers on themes relevant to communications professionals within business federations and individual companies, and will facilitate a solution-based discussion on the challenges we face in the current international socio-political environment,” according to Ali Karami-Ruiz, BIAC’s director of policy and communications. “Through the event, we will showcase the success and substance globalization has brought to Ireland’s economy.”

In the context of a growing populist narrative in some economies, Irish business leaders will address participants on the challenges and opportunities we face in communicating business and open markets. The program will include a number of company visits and inputs from the communications team behind the “Yes Equality” campaign for marriage equality in Ireland, and from the Irish government’s director of strategic communications.

Communications professionals from USCIB member organizations who are interested in participating in the roundtable should contact Jonathan Huneke, USCIB’s vice president for communications and public affairs.

 

ICC/USCIB Competition Committee Hosts DOJ Antitrust Expert

Published on September 18, 2017

USCIB’s Competition Committee held its annual joint meeting on September 11 in partnership with the International Chamber of Commerce (ICC) Commission on Competition. Introductory remarks included comments by Paul Lugard, partner, Barker Botts LLP and chair of the ICC Competition Commission, and John Taladay, partner, Baker Botts LLP and chair of the USCIB Competition Committee.

The meeting included an off-the-record exchange of views with Bernard A. Nigro, Jr., deputy assistant attorney general, U.S. Department of Justice, antitrust division, on issues of relevance to USCIB membership, including international engagement, trade related competition issues and mergers.

The remainder of the meeting provided updates on the ongoing projects of the various task forces of the ICC Competition Commission, including on compliance and advocacy, merger control regimes, due process, the International Competition Network (ICN), cartels and leniency, and court proceeding in antitrust damage claims.

Finally, the membership received an update on ASEAN competition issues by Hatasakdi Na Pombejra from HN Pro International, who presented on behalf of ICC Thailand.

Business Makes It Happen: American Business at the UN General Assembly

Published on September 18, 2017

By Peter M. Robinson
President and CEO
United States Council for International Business

 

“We live in a complex world. The United Nations cannot succeed alone. Partnership must continue to be at the heart of our strategy. We should have the humility to acknowledge the essential role of other actors, while maintaining full awareness of our unique convening power.”

-Antonio Guterres, UN Secretary General

The 72nd United Nations General Assembly (UNGA) gets under way this week at a time of stresses and strains in the international community. The nature of these stresses is particularly acute for the U.S. business community: a growing need for financing and investment in infrastructure, the open trading system called into question, and calls by some for a retreat from engagement in multilateral forums. How does American business plan for these challenges, and where can we make the biggest difference?

For USCIB and its members, an important place to start tackling these questions is the UN’s 2030 Development Agenda and its 17 Sustainable Development Goals (SDGs), a framework that will be at the center of this week of high-level meetings, also known as Global Goals Week.

In the face of challenges such as unemployment, climate change and population growth around the world, USCIB believes we have to pursue the SDGs as “must-wins” for the United States and for the American business community. We know that economic growth abroad helps create jobs at home. Open markets and policies that foster private investment offers new markets for our products. Innovation aimed at improved sustainability give the U.S. a leg-up in global competition while advancing investment in energy sources and new technologies to combat climate change.

That is why, this week, USCIB is holding a series of discussions on the margins of the UNGA to cultivate the “ingredients for impact” to catalyze business contributions to the SDGs. We are doing this under the theme, “Business Makes It Happen,” because we believe that, without strong commitment and incentives for the private sector, we won’t be able to achieve the Global Goals.

USCIB supports multilateral solutions to global challenges, with business constructively involved. We rely on solid, long-term dialogue and a close working relationship with both our government and the UN system to advance U.S. business contributions to sustainable development, delivering economic benefits at home and abroad. When it comes to what business depends on to succeed, thrive and lift the American economy, we look to Washington, D.C., and to the United Nations. We depend on both, and that is why USCIB has chosen to step forward as a U.S. business organization, working closely with our partners in the U.S. government as UNGA gets underway.

The Three I’s

The 2030 Agenda provides a blueprint for action that enjoys wide business and government support. But there are still three broad challenges in terms of implementation by business – inclusiveness, innovation and information.

  • Information: While there is more and better information available from companies on SDG action, we are overwhelmed with the quantity of data, and so we – business, governments — don’t know where to begin to understand or prioritize action. We have too much information and not enough analysis. The business community needs to develop ways to present its progress that are accessible and relevant for the international community and national governments.
  • Innovation, which is the best source of solutions for sustainability, still faces obstacles due to a lack of proper incentives for researchers, inventors and investors. The UN must do better in creating a fully welcoming environment and institutional framework for technology innovation that is genuinely involving business experts.
  • Inclusiveness: A basic tenet of the Agenda for 2030 is that no one is left behind. That suggests that everyone needs to be involved to deliver solutions. Yet in some UN forums, the private sector is still not regarded as a full partner in the effort. At times, there are still political sensitivities when business wants to come to the table, or even just listen in on policy deliberations. Clearly, we in business need to do more to demonstrate commitment and deliver actual results.

Statements by both United Nations Secretary General Antonio Guterres and President of the General Assembly Miroslav Lajčák suggest that, under their leadership in the UNGA this year, we could see progress towards a more inclusive and transparent framework to involve the business community across the board. USCIB would endorse and welcome such a development.

By their very nature, many of the SDGs depend on partnerships to be implemented, and we regard business as indispensable in collaborative action to deliver the SDGs. On its 2nd anniversary, the USCIB web platform, Business for 2030, now showcases 200 initiatives from 52 companies, in over 150 countries, covering 85 of the 169 SDG targets. These encompass both philanthropic and corporate responsibility initiatives as well as core business operations that all contribute to achieving one or more of the 17 SDG targets.

Progress has been made, as witnessed by the strong response to this year’s SDG Business Forum on the margins of last July’s High-Level Political Forum – it literally filled the UN’s largest room, the General Assembly Hall. Governments and the UN have to continue to create those new kinds of spaces in which that exchange on policy and practice can occur substantively and with good governance.

With our affiliations to leading global business organizations embedded in the UN system, the International Chamber of Commerce (ICC) and the International Organization of Employers (IOE), we have been fortunate to be on the front lines of the collaborative discussions that brought forward the SDGs, and to foster recognized opportunities for the private sector to cooperate with the UN. The process of multilateralism does move slowly, demanding investment of time and effort, but the rewards are outcomes in which business is invested and knows what to expect.

It is already clear to USCIB that one element of success towards efficiency and effectiveness in the reform of the UN is to create the most open and inclusive institutional structures to consult with representative business bodies, and then to recognize and include those inputs. We have seen time and again how the ILO, the OECD and other inter-governmental forums have demonstrated that including business in a recognized manner is a value add because it is brings on board those societal partners that invest, innovate and implement.

At USCIB, we are more convinced than ever that a more open and accountable policy dialogue, with recognized involvement of representative business groups, is a fundamental element of good governance (which is in fact the aim of SDG16), and will deliver real results. By and large, UN bodies are involving business in more substantive ways, and we are looking forward to this year’s UNGA to keep that discussion going, particularly in the context of UN reform.

In his report laying out his vision of UN reform, Secretary General Guterres presents eight big ideas for reform of the UN system.  At the heart of those are the 17 big commitments which the global community made in 2015: the SDGs. Our main goal this week is to join the international dialogues and offer ways to make those big ideas a reality for, and with, U.S. business.

Throughout the negotiations leading to the SDGs, and now in the period of their execution, we have underscored the need for business to be embedded in the process. This is necessary to leverage all the resources that the private sector can provide through investment, innovation and know-how. With dialogue and the right mix of incentives, business really can make it happen and we will be working throughout this year’s UNGA to continue the evolution towards collaborative and impactful SDG partnerships with business.

Robinson Talks Trade at International Trade Conference

Published on September 18, 2017

BAFT, the leading international transaction banking association, held its 27th Annual Conference on International Trade in Chicago on September 12, where USCIB President and CEO Peter M. Robinson served as keynote speaker to address the topic of U.S. Trade Policy.

“This is a very perilous time for trade,” noted Robinson. “In the past, no matter what other countries were doing or saying, we could always count on the U.S. and UK to stand up for open markets. That’s no longer the case. We could be at a point where anti-trade forces can effectively flip the script.”

In discussing NAFTA, Robinson emphasized USCIB’s recent recommendations to the Trump administration:

  • First, do no harm. Most of NAFTA has worked well for companies and has spurred far greater integration of the North American economy than would have happened without it.
  • Negotiate new and better rules for e-commerce and digital trade, an enormous part of the U.S. economy, to include provisions on e-commerce and digital trade such as ensuring the flow of data across borders, prohibiting requirements to localize data in a country, protecting personal data, and not carving out certain sectors (like financial services) from these provisions.
  • More regulatory coherence, strong protection of investments (including effective investor-state dispute settlement mechanisms), and rules to level the playing field with state-owned enterprises.

On trade with Asia, Robinson discussed the importance of an alternative approach in place of the Trans-Pacific Partnership (TPP). “TPP was really a top-notch agreement in my view,” he said. “But we walked away from it for political reasons. And potential FTA partners like the UK and Japan would be likely to take a very hard line in any talks with us.”

Robinson also discussed innovation and USCIB’s work on the digital economy, alongside the OECD, that the OECD takes into account the views of business and to shape policy that would not stifle innovation. Robinson also touched upon the International Chamber of Commerce’s new status at the UN General Assembly which will enable USCIB to push for expanded trade, access to trade finance and sensible approaches to technological innovation and regulation, as well as promoting business involvement in the UN Sustainable Development Goals, which encompass financial inclusion.

USCIB Supports an EU-U.S. Privacy Shield Framework

Published on September 18, 2017

On the occasion of the first joint review of the EU-U.S. Privacy Shield Framework, USCIB reaffirmed support for the Framework and issued a statement underscoring its importance in ensuring continued robust and reliable transatlantic data flows, which have proved vital for healthy U.S.-EU commercial relations.

In just one year, nearly 2,500 U.S. business entities have self-certified with the Department of Commerce and publicly committed to comply with the Framework requirements – with many of them already in the process of re-certifying.

“This impressive ‘track record’ substantiates our view that many U.S. companies see the potential of the Framework to provide greater legal certainty and consumer confidence in data transfers,” said Barbara Wanner, USCIB’s vice president for ICT policy. “In the longer term, this will promote commercial activities and investments yielding increased economic and societal benefits on both sides of the Atlantic,” she added.

USCIB highlighted three important points for consideration in the Annual Review: (1) the Framework is realizing stronger personal data protections; (2) the Framework is serving as an effective mechanism for certification by Small and Medium Enterprises (SMEs); and (3) the longevity of the Framework remains important.

Business Makes It Happen: UNGA Week Events Spotlight the Private Sector’s Role in Sustainable Development

Published on September 14, 2017

New York, N.Y., September 13, 2017 – As United Nations members gather in New York to review progress on the UN’s ambitious 2030 Development Agenda, American business is underscoring how much it is doing – and could be doing, provided the proper incentives – in support of the Sustainable Development Goals (SDGs). The United States Council for International Business (USCIB), which represents America’s most innovative and successful global companies, plans a series of events in New York throughout the week of September 18, centered on the theme: “Business makes it happen.”

“This is an important moment for the SDGs and for the UN family,” said USCIB President and CEO Peter M. Robinson. “Throughout the negotiations leading to the SDGs, and now in the period of their execution, we have underscored the need for business to be embedded in the process. This is necessary to leverage all the resources that the private sector can provide through investment, innovation and know-how. With dialogue and the right mix of incentives, business really can make it happen.”

Events the week of September 18 include:

  • Rethinking Collaboration for the SDGs, September 18 at Barclays, 745 Seventh Avenue. USCIB will join forces with Business Fights Poverty to co-host this action-focused half-day event on how business, government and civil society are collaborating to deliver the Sustainable Development Goals. USCIB’s Robinson and several USCIB members are among the speakers.
  • Data Analytics for SDGs and National Reports, September 19 at KPMG, 345 Park Avenue. Experts from USCIB member companies will present and discuss private sector frameworks for data analytics on SDG implementation, and consider opportunities for synergy with national reports for more targeted and comprehensive UN discussion and action.
  • Going Further Together for Shared Impact: U.S. Public-Private Partnerships for Sustainable Development, September 21 at Deloitte, 30 Rockefeller Plaza. USCIB member companies and government partners will present and discuss examples of public-private sector partnership to advance the SDGs, with a view to expanding those working relationships and improving and scaling up efforts for shared impact and benefit.
  • USCIB Side Event, Business Makes It Happen, September 22 at Pfizer, 235 East 42nd Street. This wrap-up event will present the main recommendations and initiatives identified during UNGA week, and discuss next steps on the intersection of UN reform and the SDGs, scaling up investment in infrastructure, public-private partnerships and institutional evolution needed to catalyze business involvement to advance SDGs.

In 2015, USCIB launched Business for 2030, an ambitious effort to catalogue and catalyze company efforts to support the SDGs. The site has quickly become a go-to resource for all stakeholders interested in the SDGs to learn about what the global business community is doing to help achieve them. Business for 2030 now showcases 187 initiatives from 49 companies, in over 150 countries, covering 83 of the 169 SDG targets. These encompass both philanthropic corporate responsibility initiatives as well as core business operations that all contribute to achieving one or more of the 17 SDG targets.

“Innovation, infrastructure, economic growth and empowerment and good governance are the four inter-linked cornerstones for all 17 SDGs for business,” stated Norine Kennedy, USCIB’s vice president for strategic international engagement, energy and environment. “Therefore, it is crucial to consult with private-sector groups at the national and regional level to develop enabling frameworks for business actions to advance the SDGs.”

The latest list of UNGA week events organized by USCIB is available here.

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. As the U.S. affiliate of the International Chamber of Commerce, the International Organization of Employers and Business at OECD, 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
Tel: +1 917 420 0039
jhuneke@uscib.org

Business and Climate Summit Highlights Business Leadership

Published on September 11, 2017

The third annual Business and Climate Summit—the leading forum for business leaders, investors and policymakers on climate action—took place from August 31 to September 1 this year in New Delhi, India. The Summit showcased business leadership in addressing climate change and highlighted how business can help governments achieve climate objectives.

This year’s Business and Climate Summit in New Delhi delivered a powerful statement as private sector representatives from around the world gathered for the first time in an emerging country to showcase their commitment to tackling climate change. While the Paris Agreement aims to hold the increase in global average temperature to well below 2°C, current government pledges will only contain the increase in global warming to approximately 3°C. Business has already stepped up to bridge the gap, and the Summit aimed to highlight how.

Hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with the International Chamber of Commerce and other partners, the Summit consisted of two days of high-level discussions across six plenary sessions and nine ‘focus sessions’, covering topics from urban mobility to energy security. The Summit hosted high-level deliberations to voice messages from businesses on private sector actions around climate change and future visions for a low-carbon trajectory.

“Business has a vital and constructive role to play in informing climate policy,” ICC Secretary-General John Danilovich said. “This year’s Business and Climate Summit comes at a crucial time and offers business the opportunity to show the positive steps we are taking towards a more sustainable economic future.”

Bharat Salhotra, managing director of Alstom India and South Asia, said, “The transport sector has a key role towards delivering the mitigation and adaptation objectives of the Paris Agreement. Getting city-dwellers out of their private fossil-fueled vehicles and into sustainable mass transport must be an objective of city authorities.”

The Business and Climate Summit brought together more than 70 high-profile speakers from around the world—comprising CEOs of top companies, ministers and high-level representatives of governments, international agencies and global climate-related organizations—with participation from more than 15 countries representing over 30 sectors of the economy. Participants aim to amplify key policy messages ahead of the UNFCCC’s COP23 meetings.

The New Delhi Summit is being shown a high level of support from the Indian Government, with key ministries such as the Ministry of Environment, Forest and Climate Change, Ministry of New and Renewable Energy, Ministry of Finance, Ministry of Petroleum and Natural Gas and Ministry of Railways represented by speakers at the event.

USCIB Spotlights Business Engagement During UNGA Week

Published on September 6, 2017

From September 18 to 22, 193 countries will gather in New York for the opening of the 72nd UN General Assembly (GA). The GA is the UN’s governing body, and its sessions deliberate and decide global approaches on a wide range of issues and programs impacting and offering opportunities for U.S. business. Under the leadership of new Secretary General Antonio Guterres, the UN reform process underway this year holds out the promise of more inclusive and substantive public-private sector dialogue and cooperation in the UN system to advance economic growth and sustainable development.

 

USCIB at UN General Assembly Week, September 18-22 in New York

We are pleased to share an updated list of USCIB events during UNGA week. In particular, we’d like to invite you to register for a new USCIB UNGA week event on Friday, September 22nd from 3 – 5 pm: Business Makes it Happen. We also flag important events by the International Chamber of Commerce, IPIECA, and other business organizations for your awareness.

USCIB-Organized Events:

Monday, September 18: Business Fights Poverty Conference, “Rethinking Collaboration for the SDGs,”
8:30AM-2:30PM, hosted by Barclays offices at 745 7th Avenue, New York, NY 10019

USCIB will join forces with Business Fights Poverty to co-host this action-focused half-day event on how business, government and civil society are collaborating to deliver the Sustainable Development Goals. USCIB’s President and CEO, Peter Robinson, and USCIB members will be on hand as panelists.

USCIB members are encouraged to RSVP directly here.

Tuesday, September 19: “Data Analytics for SDGs and National Reports,” a USCIB UNGA72 Breakfast Roundtable
8:00AM-10:00AM, hosted by KPMG at 345 Park Avenue (51st between Park and Lex), New York, NY 10154, 37th Floor

Measuring progress and tracking private sector development impact is crucial to prioritize deployment of investment and other business resources, and to inform SDG relevant policy and implementation. Big data is not enough by itself and governments and business alike are facing the challenge of “too much information.” A framework for understanding and prioritizing sustainability actions depends on the right analysis of that information.

Experts from USCIB member companies will present and discuss private sector frameworks for data analytics on SDG implementation, and consider opportunities for synergy with national reports for more targeted and comprehensive UN discussion and action.

As space is limited, please register here.

Thursday, September 21: “Going Further Together for Shared Impact: U.S. Public-Private Partnerships for Sustainable Development” a USCIB UNGA72 Breakfast Roundtable
8:00AM-10:00AM, hosted by Deloitte at 30 Rockefeller Plaza, New York, NY 10112

Public-private cooperation is needed to break down silos, catalyze resources and join forces to address SDG challenges. Such partnerships are also identifying new business opportunities and innovative solutions. USCIB member companies and government partners will present and discuss examples of public-private sector partnership to advance the SDGs, with a view to expanding those working relationships and improving and scaling up efforts for shared impact and benefit.

As space is limited, please register here.

Friday, September 22: USCIB Side Event, Business Makes It Happen
3:00PM-5:00 PM, hosted by Pfizer at 235 E 42nd St, New York, NY 10017

This wrap-up event will present the main recommendations and initiatives identified during USCIB UNGA week events, and discuss next steps on key questions:

  • Where does UN reform create new opportunities to mobilize business action on SDGs?
  • How can business metrics and analytics optimize and scale up investment in needed infrastructure and implementation of SDGs?
  • What are the essential ingredients for impact in public private partnerships advancing the SDGs?
  • What is the institutional evolution needed to catalyze business innovation and involvement to advance SDGs in multilateral institutions?

As space is limited, please register here.

ICC Events

Monday, September 18: UN Global Compact Private Sector Forum, co-organized with ICC
From 12:30PM at UN Headquarters

Hosted annually by the UN Secretary General, the Forum invites leading CEOs and investors, Heads of State and Government, senior UN leadership and select civil society representatives to take part in an interactive discussion and high-level networking opportunity on the SDGs. This year, with the theme of Unlocking Prosperity: Financing the 2030 Agenda, the Forum will focus on ways stakeholders can work together to catalyze responsible business growth and unlock innovative forms of financing at an unprecedented scale.

Monday, September 18: Business for the SDGs: Innovation, Technology and Connectivity for a better future for all
5:00PM – 8:00PM at ECOSOC Chamber, UN Headquarters

The International Chamber of Commerce (ICC), GSMA, UN DESA, and the Governments of Indonesia and Colombia are delighted to invite you to this high-level event.

Only two years after the adoption of the 2030 Agenda, businesses, governments and civil society are deploying technology solutions to address key areas articulated by the UN Sustainable Development Goals (SDGs). Many of these initiatives highlight how business can drive mobile technology, digital tools and connectivity to effectively support people, planet, prosperity and peace. Collaboration within and across industries, and with governments, will ensure an enabling environment for business to continue to accelerate its contribution to a better future for all.

During this invitation-only event, prominent speakers including Heads of State, UN officials and private sector leaders will share best practices on business action to advance the SDGs, the impact of industry-wide efforts, and how we can augment collaboration between governments and industries to accelerate the delivery of the SDGs.

Due to the need for security approved passes, and strict capacity limitations, please register here before Tuesday September 12. Should ICC receive your registration after this date, they will be unable to guarantee access to the venue. A confirmation email and further logistical details will follow after registration.

Other Business Events:

Monday, September 18: Equal Pay International Coalition (EPIC) launch
3:00PM-5:30PM at ECOSOC Chamber, UN Headquarters

Peter Robinson, USCIB President and CEO is slated to speak. Event is open to the public.

Monday, September 18 & Tuesday, September 19: Concordia Annual Summit
Monday: 8:00AM-6:00PM, Tuesday: 7:30AM-6:00PM at Grand Hyatt New York – 109 East 42 Street, New York

Monday, September 18 & Tuesday, September 19: World Economic Forum Sustainable Development Impact Summit
At Convene Conference Centre, 730 Third Avenue, New York

Wednesday, September 20: The oil, gas and mining industries and the 2030 Agenda: partnerships and participation to accelerate progress
12:30PM-3:00PM at The Harvard Club, 35 W. 44th Street, New York

Wednesday, September 20: Bloomberg Global Business Forum
7:30AM-3:00PM at The Plaza Hotel, New York

Thursday, September 21: UN Global Compact Leaders Summit 2017
At the New York Hilton Midtown, 1335 6th Ave, New York

NAFTA Briefing Focuses on Importance of Keeping Investor Protections

Published on August 31, 2017

On August 29, USCIB and the National Association of Manufacturers (NAM) co-hosted a very useful briefing on the challenging investment chapter issues in the just-launched NAFTA updating negotiations with senior officials from the Office of the U.S. Trade Representative (USTR). The USTR lead investment negotiators were joined by other senior USTR officials and a business side of two dozen company and trade association representatives with major concerns about the NAFTA investment chapter, especially the important issue of “Investor-State Dispute Settlement” (ISDS). The business turnout at a short notice meeting in late August is a clear demonstration of the importance that USCIB members and the broader community ascribe to these investment issues. The US negotiating team was heading to Mexico City for the second round in the NAFTA updating negotiations September 1-5.

Most of the meeting consisted of business reps around the table offering their comments, concerns, questions and recommendations regarding USTR’s approach to these investment negotiations. By design, the USTR team did more listening than talking. USCIB and NAM staff led the business comments and were very clear and direct with our concerns and recommendations. We also had broad and strong participation around the table from companies and associations from a wide range of sectors. The key points made by a number of business representatives included:

  • The NAFTA investment chapter has generally worked quite well for U,.S business. We are open to well-crafted proposal to improve the chapter but, as in many other important chapters in NAFTA, our basic watchword will be “first, do no harm.”
  • Business needs a strong investment chapter in NAFTA and in other U.S. Free Trade Agreements (FTAs) and Bilateral Investment Treaties (BITs), including high standard core substantive investment protections, broad coverage and definitions to include new forms of foreign direct investment , and, critically, strong ISDS provisions to ensure enforcement.
  • We are quite concerned by recent press report that the Administration might be considering a proposal to make the ISDS enforcement provisions “optional”, whereby each of the three NAFTA government could “opt in” or “opt out” of NAFTA’s ISDS dispute settlement provisions. If a government of governments were to opt out, the only way an aggrieved foreign investor could seek redress would be in the local court system of the host government. USCIB and company and associations reps around the table made clear that such revisions in NAFTA’s investment chapter would be unacceptable.The discussion was, we thought, very useful for all participants and will hopefully provide a model for on-going consultations with USTR on all the key investment issues throughout the negotiations. Members interested in getting more involved in USCIB’s efforts on NAFTA investment issues should contact Shaun Donnelly or Eva Hampl.