Press Release Archives

G8 Business Leaders: Crisis Demands Urgent Response But Does Not Indicate a Failure of Market Economics

Published on December 4, 2008
Leaders of the G8 business federations (USCIB President Peter Robinson is at far right).
Leaders of the G8 business federations (USCIB President Peter Robinson is at far right).

Paris and New York, December 4, 2008 – Meeting in Paris, business federation heads from the G8 nations called for urgent measures by governments to correct “real dysfunctions” in the world financial system.  But they said the crisis did not call into question the basic assumptions of private sector-led growth, and they pressed for an immediate re-launch of WTO trade talks as a way to revive the global economy.

“We came to Paris to voice our common support for efforts to make the market economy work better, increase financial transparency and foster closer international cooperation,” said USCIB President and CEO Peter M. Robinson, who joined business leaders from North America, Europe and Japan in issuing a joint statement prior to a meeting with French President Nicolas Sarkozy.  “Where more clarification and regulation is needed, it must be smart regulation, and policy makers must avoid over-regulation at this delicate time for the global economy.”

In their statement, the business leaders stated that “the present crisis does not call into question the basic principles of the open market economy but calls for urgent responses mainly in technical and regulatory terms.”  They said the causes of the crisis were multiple, and included monetary policies leading to excessive liquidity, lack of regulation or inappropriate regulation, attempts to achieve high yields without an accurate assessment of risks and inadequate coordination of macro-economic policies.

“These are real dysfunctions which have had serious consequences and which in concrete terms call for a revision of the rules governing agents, products and operations on the financial open markets,” the statement said.  “On the other hand, these dysfunctions do not in any way cast doubt on the open market economy, which requires clear and shared rules to make private companies and entrepreneurs free to create, grow and innovate.  Businesses have today the talented people, technologies, and drive to succeed as before the crisis.  This is the cause for our optimism.”

The business chiefs welcomed pledges made by leaders at last month’s G20 Summit in Washington to avoid protectionist policies.  They echoed the G20’s call for efforts to restart the struggling Doha Round of trade talks as an immediate priority.  “The business community fully supports all of the efforts that will result in a prompt, ambitious and balanced conclusion to the Doha Development Agenda,” the statement said.  “This is necessary to ensure the world’s economic growth in the coming years.”

USCIB’s Mr. Robinson applauded the French business federation MEDEF for convening the business leaders, and for working rapidly and effectively to develop a consensus approach all parties could support without reservation.

The other participants in the G8 Business Summit were:

Fujio Mitarai, president of Nippon Keidanren (Japan)

Perrin Beatty, president of the Canadian Chamber of Commerce

Laurence Parisot, president of MEDEF (France)

Jürgen R. Thumann, president of BDI (Germany)

Emma Marcegaglia, president of Confindustria (Italy)

Alexander Shokhin, president of RSPP (Russia)

Martin Broughton, president of the Confederation of British Industry

Thomas J. Donohue, president of the U.S. Chamber of Commerce

Ernest-Antoine Seillière, president of BusinessEurope.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $4 trillion.  As American affiliate of three global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD – USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.

Contact: Jonathan Huneke, VP Communications & Public Affairs, USCIB (212) 703-5043 or jhuneke@uscib.org

Statement From the G8 Business Summit Leaders (click here for summary)

Watch the press conference (MEDEF website, French/Japanese/English)

USCIB statement on the G20 Summit (November 2008)

More on USCIB’s Trade and Investment Committee

Key Officials Address Critical Role of Sovereign Wealth Fund Investment

Published on October 14, 2008
Deputy Treasury Secretary Robert Kimmitt: Without access to capital, growth will seize up.
Deputy Treasury Secretary Robert Kimmitt: Without access to capital, growth will seize up.

Washington, D.C., October 14, 2008 – On the heels of a landmark agreement by leading sovereign wealth funds (SWFs) to increase their transparency, representatives of major governments and SWFs gathered yesterday in Washington, D.C. to discuss ways to keep major markets open for investment from these increasingly important sources of capital.

At a forum organized by the United States Council for International Business (USCIB), senior officials from the U.S. Treasury and the 30-nation Organization for Economic Cooperation and Development (OECD) were joined by representatives of China’s leading SWF, Goldman Sachs and other leading experts.  Speakers emphasized the critical importance of maintaining market openness to all forms of investment, including from SWFs, as the world contends with the ongoing financial crisis.

“In these times of heightened uncertainty, it is imperative that we don’t turn inward, but rather embrace free investment and trade,” stated U.S. Deputy Treasury Secretary Robert Kimmitt.  “Allowing capital to flow freely is vital for economic growth and will enable healthy institutions to emerge from the current turmoil.  Without access to capital, the engines of economic growth seize up and risk the health of the broader economy.”

Amid a severe credit crunch, more and more companies and governments are turning to SWFs for much-needed capital.  SWFs have been in existence for decades, but their role and the number of funds has grown significantly in recent years, along with concerns about the management and intention of some funds.

Jesse Wang of China Investment Corp. (center), with USCIB’s Stephen Canner and Peter Robinson.
Jesse Wang of China Investment Corp. (center), with USCIB’s Stephen Canner and Peter Robinson.

The forum examined the International Working Group on Sovereign Wealth Funds’ recently released Generally Accepted Principles and Practices for sovereign wealth funds, as well as implementation of the OECD’s recommendations for keeping markets open to SWF investment.

Reflecting on efforts to address the financial crisis at the IMF/World Bank meetings over the weekend, OECD Secretary General Angel Gurría commented that IMF members were now “less of a cacophony, more of a choir.”  He said it was essential for countries seeking to benefit from investment by sovereign wealth funds to abide by fundamental OECD principles of openness and non-discrimination.

“We want to avoid the illegitimate use of national security to stop bona fide investments,” he said.  Mr. Gurría told the audience efforts by the IMF and OECD to develop rules and standards for SWFs and host governments had fostered confidence and removed suspicion about sovereign investment.

Other speakers at the USCIB forum included Daniel Sullivan, assistant secretary of state for economic and business affairs, Jesse Wang, executive vice president of the China Investment Corp., John Waldron, managing director at Goldman Sachs, and Edwin Truman of the Peterson Institute for International Economics.  Jerry Leamon, global managing partner with Deloitte, and Scott Miller, director of national government relations with Procter & Gamble and chair of USCIB’s Trade and Investment Committee, also participated.

The forum was co-sponsored by the Business and Industry Advisory Committee to the OECD, TransAtlantic Business Dialogue, National Foreign Trade Council, Emergency Committee for American Trade, National Association of Manufacturers, Financial Services Forum and Financial Services Roundtable.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 U.S. companies, professional service firms and associations, whose combined annual revenues exceed $3.5 trillion.  As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

Contact:

Jonathan Huneke, VP communications, USCIB

(212) 703-5043 or jhuneke@uscib.org

Remarks by Deputy Secretary Kimmitt

Generally Accepted Principles and Practices for Sovereign Wealth Funds

More on USCIB’s Trade and Investment Committee

USCIB Regrets Breakdown in Doha Trade Talks, Urges Parties to Keep Offers on the Table

Published on July 30, 2008

3818_image002New York, N.Y., July 30, 2008 – The United States Council for International Business (USCIB), which represents America’s top multinational companies, expressed deep disappointment at the breakdown of the WTO’s Doha trade talks in Geneva.  It called on governments to keep their offers on the table as the basis for further negotiations.

“We deeply regret that ministers failed to deliver an ambitious, balanced and comprehensive result acceptable to all parties,” stated USCIB President Peter M. Robinson.  “So much has already been achieved, including important progress this past week.  We urge parties to find ways to build on these accomplishments going forward.”

Mr. Robinson said leaders in emerging market countries needed to demonstrate flexibility commensurate with their new weight in the global economy.  “In addition, established trading parties must continue to demonstrate collective leadership and willingness to compromise,” he stated.  “We support the efforts of Ambassador Schwab and her team in this regard.”

The timing of the latest setback is unfortunate because of slowing economic growth and increasing protectionist sentiment in some major trading nations, Mr. Robinson added.   He also pointed to the importance of freer trade and multilateral cooperation in confronting such challenges as climate change and resource scarcity.

USCIB believes the Doha Round has tremendous potential to increase global economic growth by improving market access for goods and services around the world, especially for the developing world by reducing south-south trade barriers.  It is the main opportunity to reduce distorting subsidies and trade barriers to agriculture.

USCIB has long supported multilateral liberalization of trade, investment and financial flows.  Together with its international affiliates, including the International Chamber of Commerce, and in partnership with other national industry groups in the ABCDoha coalition, USCIB strongly supported the launch of the Doha Round in 2001, and it has sought a result that would improve global market access for products and services.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $4 trillion.  As American affiliate of three global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD – USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.

Contact:

Joseph G. Gavin, VP Trade & Customs, USCIB

+1 202.682.1291 or jgavin@uscib-dc.org

More on USCIB’s Trade and Investment Committee

WTO website

A Green Light for “Green” Tariffs?

Published on January 25, 2008

New study scrutinizes how international trade rules may impact limits on carbon emissions

3771_image001New York, N.Y., January 25, 2008 – Are efforts to limit greenhouse gas emissions under agreements like the Kyoto Protocol compatible with World Trade Organization rules?  As Congress and many European policy makers weigh the imposition of “green” border taxes to punish more carbon-intensive products from abroad, a new report by a leading industry group raises troubling questions about WTO rules and jurisprudence  and their possible application to climate policy.

The study by the United States Council for International Business (USCIB) looks specifically at the issue of whether countries might decide the U.S. has an unfair trade advantage as the result of its decision not to adhere to the Kyoto Protocol.  It is an update of a 2002 paper issued soon after the Bush administration announced its intention not to sign  the Kyoto agreement.

“When we published our original paper six years ago, the issue was largely speculative,” said Timothy E. Deal, USCIB’s senior vice president and the author of the study.  “Back then it was mainly NGOs like Greenpeace and Friends of the Earth Europe that were pushing for a climate border tax as a way to punish the U.S. and other non-Kyoto signatories.  Now we have politicians on both sides of the Atlantic talking more openly about some form of carbon tax regime.”

Two separate bills currently before the U.S. Senate would combine a national cap-and-trade system for reducing carbon emissions with fees or taxes on imports from countries that do not adequately limit such emissions.  Meanwhile, the European Commission has floated the same idea in proposing a new European emissions regime.  Last October, French President Nicolas Sarkozy publicly urged the EU to “examine the option of taxing products from countries that do not respect the Kyoto Protocol.”

The USCIB study looks at pre-existing GATT/WTO jurisprudence on trade and environment, as well as key WTO rulings such as the 1998 Shrimp-Turtle decision.  According to Mr. Deal, that landmark ruling may have opened the door for the use of trade measures to promote environmental objectives based on the way a product is made.

“This issue could cause an absolute train wreck to the multilateral trading system,” said Mr. Deal.    “Clarification of the relationship between multilateral environment agreements and international trade rules, as called for in the WTO’s Doha Development Agenda, may be necessary to avert such a clash.”

Founded in 1945, USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership encompasses over 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion.  As American affiliate of several leading global business groups, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

Contact:

Jonathan Huneke, VP Communications, USCIB

+1 212-703-5043 (office), +1 917-420-0039 (mobile) or jhuneke@uscib.org

USCIB study: “WTO Rules and Procedures and Their Implication for the Kyoto Protocol”

“Trade Can Save the Climate” (column by USCIB President Peter M. Robinson, Winter 2007-2008)

More on USCIB’s Environment Committee

More on USCIB’s Trade and Investment Policy Committee

WTO website

USCIB Applauds House Passage of Free Trade Agreement With Peru

Published on November 8, 2007

peruWashington, D.C., November 8, 2007 – The United States Council for International Business (USCIB), which represents America’s top global companies, applauded passage today of the U.S.-Peru Free Trade Agreement by the U.S. House of Representatives.

“This agreement will provide improved market access for U.S. manufactured goods, offer new opportunities to the services sector, including financial services providers, and open up Peru’s market to American agricultural exports,” stated USCIB President Peter M. Robinson.

Mr. Robinson also noted that the Peru agreement would give greater security and predictability to U.S. investors operating in that country.  “Especially important in that regard is the strong investor-to-state dispute-settlement mechanism in the agreement, which means that investors will have a neutral forum for adjudication of any disputes,” he said.

“We are hopeful that the U.S. Senate will now move promptly to approve the agreement, which will do much to cement relations with one of our best neighbors in the hemisphere,” stated Mr. Robinson.  He also said USCIB members hoped it would provide a spur to additional market-opening trade agreements at the bilateral and multilateral levels.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Based in New York, its membership includes more than 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3.5 trillion.  As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

More on USCIB’s Trade and Investment Committee

U.S. Trade Representative’s office fact sheet on the U.S.-Peru FTA

USCIB Welcomes China’s Progress on WTO Commitments, but Concerns Remain

Published on September 20, 2007
USCIB addressed its statement on China and the WTO to U.S. Trade Representative Susan Schwab.
USCIB addressed its statement on China and the WTO to U.S. Trade Representative Susan Schwab.

New York, N.Y., September 20, 2007 – China has made significant efforts to meet its obligations under the terms of its accession to the World Trade Organization, but concerns remain on compliance issues, according to a leading industry group.

In its annual review of China’s progress under its WTO accession terms, the United States Council for International Business (USCIB), which represents hundreds of  multinational companies, also praised the U.S. and Chinese governments for working to resolve bilateral trade frictions.

“The U.S.-China relationship is complex and multi-faceted, and our members have a direct and important stake in this engagement,” said USCIB President Peter M. Robinson.  “We believe China is making some progress on its WTO commitments, but still has a way to go on many fronts.  We appreciate that the United States and China are approaching these issues in a spirit of collaboration and partnership.“

The USCIB statement identified a number of areas warranting further efforts by Beijing to ensure full compliance with its WTO accession requirements.  Among these were a continued lack of transparency in rulemaking and in the judiciary, insufficient notice of new or proposed laws, unfair treatment of foreign firms in certain industries, and the continued inadequacy of intellectual property protection in China.

In addition, USCIB called on China to work toward sounder regulations governing such industries as chemicals, postal and express delivery services, and telecommunications.

Mr. Robinson said USCIB would continue to support the work of the joint U.S.-China Joint Commission on Commerce and Trade, as well as the bilateral Strategic Economic Dialogue, slated to reconvene in Beijing this December.

He also pledged active support for ongoing work in the Organization for Economic Cooperation and Development to promote regulatory reform in China and pursue enhanced engagement with the country.  USCIB is the American affiliate of the Business and Industry Advisory Committee to the OECD, which serves as the voice of business in the 30-nation organization.

The USCIB statement was submitted to U.S. Trade Representative, Susan Schwab by Mr. Robinsonand Clarence Kwan, national managing partner of Deloitte & Touche’s Chinese services group and chair of USCIB’s China Committee.

USCIB promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 U.S. companies, professional service firms and associations whose combined annual revenues exceed $3.5 trillion.  As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

USCIB statement on China’s WTO obligations

More on USCIB’s China Committee

USCIB Applauds Signing of Korea Free Trade Pact

Published on June 30, 2007

New York, N.Y., June 30, 2007 – The United States Council for International Business (USCIB), a pro-trade organization representing America’s top global companies, applauded today’s signing of a free trade agreement between the United States and Korea, which it cited as a major milestone in U.S. foreign trade policy.

“This agreement ranks among the most commercially significant America has entered into,” stated USCIB President Peter M. Robinson. “We congratulate our negotiators. They have secured an agreement that has huge potential economic benefits for U.S. business, workers, farmers and consumers.”

The comprehensive U.S. Korea Free Trade Agreement stands to eliminate nearly all tariffs on manufactured goods, and provide substantial new market access opportunities for U.S. services and agricultural exports. It also effectively addresses many non-tariff barriers.

Korea is a trillion-dollar economy and the seventh-largest U.S. trading partner. In 2006, bilateral trade in goods alone amounted to $78 billion, with U.S. exports to Korea totaling $32 billion in goods and $10 billion in services.

Mr. Robinson called upon Congress to ratify the agreement as soon as possible to maximize its benefits. He also expressed his hope that it would provide a spur to additional market opening trade agreements at the bilateral and multilateral levels.

USCIB promotes an open system of global commerce. Its membership includes some 300 leading U.S. companies, professional service firms and associations. As the American affiliate of three global business bodies – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD – USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.

Contact:
Rob Mulligan
(202) 682-7375 or rmulligan@uscib.org

More on USCIB’s Trade and Investment Committee

U.S. Trade Representative’s office fact sheet on the U.S.-Korea FTA

USCIB Welcomes Bipartisan Trade Policy Accord

Published on May 14, 2007

3699_image002New York, N.Y., May 14, 2007 – The United States Council for International Business (USCIB), which represents hundreds of America’s top global companies, welcomed the agreement between the White House and Congress on a new trade policy “template,” which it said should clear the way toward approval of pending U.S. free trade pacts and renewal of the president’s trade negotiating authority.

USCIB, the U.S. affiliate of the International Organization of Employers, which represents business in the International Labor Organization, said it was especially pleased that negotiators had forged a compromise approach to incorporating international labor principles into U.S. trade agreements that recognizes the role of the ILO to help its member countries advance labor conditions.

USCIB President Peter M. Robinson applauded the efforts of U.S. Trade Representative Susan Schwab and Rep. Charles Rangel, chairman of the House Ways and Means Committee, to conclude the deal.

“Ambassador Schwab and Chairman Rangel have worked tirelessly to forge a bilateral consensus on trade policy, paving the way for further trade liberalization that will benefit business, workers, consumers and farmers,” stated Mr. Robinson.  He noted that, at last December’s USCIB annual award dinner, Congressman Rangel had underscored his strong interest in promoting a forward-looking trade agenda.  “The Chairman delivered, and we are most appreciative.”

Mr. Robinson said the way was now clear to gain approval of the free trade agreements currently before the Congress.  “Hopefully, Congress will approve these FTAs and extend the president’s trade promotion authority,” he stated.  “Extension of trade authority is urgently needed to generate movement in the Doha Round, which is a high priority for U.S. business.”

Mr. Robinson said he was gratified that the agreement’s labor provisions prominently feature the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work, which was developed at the initiative of the International Organization of Employers’ members, including USCIB.  The ILO’s tripartite structure encompasses representation from governments, employers and trade unions, so the ILO declaration’s principles have the support of all three groups in the U.S. and internationally.  It is therefore appropriate to reaffirm them in U.S. trade agreements as objectives that all countries should recognize and strive to realize in their national laws.

USCIB said it recognized that the negotiations on transforming the agreement, presently in the form of a joint “concept paper,” into legislation would require continued bipartisan cooperation between the Executive Branch and Congress.  It also recognizes that concerns may persist in the business community on non-labor issues covered by the agreement, particularly on intellectual property.  “We are confident that, at the end of the day, the same sense of bipartisanship that led to this agreement will carry forward in the drafting of actual legislation,” stated Mr. Robinson.

The United States Council for International Business promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion.  As the exclusive American affiliate of three key global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD –  USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.

Contact:

Jonathan Huneke, USCIB

Tel: +1 212 703 5043 or +1 917 420 0039 (mobile)

E-mail: jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

More on USCIB’s Labor and Employment Committee

Head of Leading Industry Group Applauds President’s Statement on Open Economies

Published on May 10, 2007
USCIB Chairman William G. Parrett speaking at the G-8 Business Summit in Berlin (Photo: BDI).
USCIB Chairman William G. Parrett speaking at the G-8 Business Summit in Berlin (Photo: BDI).

New York, May 10, 2007 – The chairman of the United States Council for International Business, William G. Parrett, applauded President Bush’s reaffirmation today of an open-door policy toward foreign investment in the United States and his encouragement that other nations follow this approach.

President Bush today issued a ringing endorsement of open markets worldwide, urging other nations “to join us in supporting an open investment policy and protecting international investments.”

Mr. Parrett, chief executive officer of Deloitte, welcomed the administration’s statement, calling it an important signal to markets and U.S. trading partners. “This is the first time in some 15 years that the U.S. has made such a high-level reaffirmation of the importance of open markets,” he said.  “Business sees U.S. government leadership as critical to preserving open markets, and I applaud the President’s commitment announced today.”

At last month’s first-ever G-8 business summit in Berlin, Mr. Parrett joined the heads of business federations from the other G-8 nations in appealing to governments to avoid recourse to investment protectionism.

“Governments need to take action at the highest level to avoid investment protectionism if we want to encourage the free flow and benefits of international investment,” Mr. Parrett said at the April business summit.  “They need to affirm, in word and practice, their commitment to open, cross-border investment.”

The business community has seen worrisome signs that the pendulum is swinging away from open markets in many countries.  Mr. Parrett said, “U.S. business recognized that the world had changed dramatically since 9/11 and that governments must pay more attention to national security issues, but a legitimate concern for national security needs to be considered alongside the benefits of allowing foreign investment.”

The United States Council for International Business promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion.  As the American affiliate of several leading global business groups, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.  More information is available at www.uscib.org.

Contacts:
Jonathan Huneke, VP Communications, USCIB
Tel: +1 212 703 5043 or +1 917 420 0039 (mobile)
E-mail: jhuneke@uscib.org

Madonna Jarrett, Director, DTT Public Relations and CEO Communications
Tel: +1 212 492 3738 or +1 646 388 2335 (mobile)
Email: mjarrett@deloitte.com

President Bush’s statement on open economies (White House website)

G-8 Business Declaration: Joint Statement of the G-8 Business Organizations (PDF file, 1.8 MB)

More on USCIB’s Trade and Investment Committee

Deloitte website

World Trade Week NYC Spotlights Small Business Success in the Global Marketplace

Published on April 30, 2007
The hustle and style at Grand Central Terminal epitomizes the spirit of New York’s smaller traders.
The hustle and style at Grand Central Terminal epitomizes the spirit of New York’s smaller traders.

New York, N.Y., April 30, 2007 – This year’s World Trade Week celebration in New York City, which takes place May 21-25, will spotlight small and medium-sized enterprises (SMEs) that have built their businesses by accessing global markets and made the world their oyster.

In the public mind, international trade has become synonymous with big business and big money, seemingly far removed from the needs and concerns of smaller entrepreneurs.  Yet recent statistics from the U.S. government tell a different story.  For example, SMEs make up over 90 percent of all New York State exporters, and the value of the goods they sell abroad accounts for fully half of the state’s merchandise exports – the third-highest percentage of any state in the nation.

“The question is no longer whether SMEs can go global,” said Peter M. Robinson, president of the United States Council for International Business (USCIB), a lead partner organizations for World Trade Week NYC.  “The real questions are when and where.”

Patrick J. Foye, chairman of the Empire State Development Corp./Downstate, and Roy W. Hoffman, managing director for international client service with RSM McGladrey, will serve as co-chairs of World Trade Week NYC 2007, part of a nationwide celebration of international trade, to be observed by business and trade-related organizations across the New York metropolitan area.

Kicking off the week’s events is the annual International Trade Awards Breakfast on Monday, May 21, at the Weissman Center for International Business, Baruch College/CUNY.  World Trade Week NYC 2007 organizers are proud to announce the following award recipients:

  • S.S. Sampliner & Co., Inc. will receive the Export Achievement Award
  • Max Brenner Chocolate will receive the NYC International Achievement Award
  • The New York State Small Business Development Center at LaGuardia Community College/CUNY will receive the Export Appreciation Award
  • Stewart B. Hauser, Chairman, NY/NJ Foreign Freight Forwarders & Brokers Association, Inc., will receive the Global Trade Award

World Trade Week NYC 2007 is hosted by the New York District Export Council and supported by Presenting Sponsor, RSM McGladrey.  The United States Postal Service, Empire State Development, HSBC and Roanoke Trade are also sponsors.  Many nonprofit economic development organizations are involved, including several internationally based chambers and trade associations.  Complete, up-to-the-minute information on World Trade Week NYC 2007 events and supporting organizations is available at www.worldtradeweeknyc.org.

The United States Council for International Business promotes an open system of global commerce in which business can flourish and contribute to economic growth, human welfare and protection of the environment.  Its membership includes more than 300 leading U.S. companies, professional services firms and associations whose combined annual revenues exceed $3.5 trillion.  As the exclusive American affiliate of three key global business groups – the International Chamber of Commerce, the International Organization of Employers, and the Business and Industry Advisory Committee to the OECD –  USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade.

Contact:

Jonathan Huneke, USCIB

(212) 703-5043

jhuneke@uscib.org

World Trade Week NYC website

More on USCIB’s Trade and Investment Committee

More on USCIB’s Business Services to Expedite Trade

Other Upcoming USCIB Events