Trade and Investment Archives

USCIB Chairman Meets with Chinese Vice Premier

Published on May 16, 2014
USCIB Chairman Terry McGraw (left) and Chinese Premier Li Keqiang
USCIB Chairman Terry McGraw (left) and Chinese Premier Li Keqiang

A delegation of leaders from the International Chamber of Commerce (ICC) met today with the Premier of the People’s Republic of China Li Keqiang in Beijing. Led by USCIB and ICC Chairman Terry McGraw, chairman of McGraw Hill Financial [now S&P Global], the delegation included Jean-Guy Carrier, ICC’s secretary general; Jiang Zengwei, chairman of the China Council for the Promotion of International Trade; Lin Shunjie, secretary general of ICC China; and ICC executive board member Andrea Tomat, CEO of Lotto Sport Italia.

Joined by Chinese government officials, the high-level meeting focused on ICC’s work to promote multilateral trade and investment. World business leaders praised Li for China’s new pathway to economic reform and encouraged greater focus on trade and investment initiatives, including working to implement the World Trade Organization (WTO) Trade Facilitation Agreement, protecting intellectual property, lowering barriers to trade and investment, and fighting corruption.

“China is a vital economy and a key player in helping design global economic governance and reform in key forums such as the G20,” said McGraw. “One important step now for China to pave the way for greater market opening that creates more opportunity and higher growth throughout the world, is to demonstrate strong support for implementing the WTO agreement reached last year in Bali.”

ICC’s Products and Services

The meeting also raised awareness of ICC’s essential products and services that can support Chinese companies expanding to international markets and meet the challenges and opportunities of an increasingly integrated global economy. These include ICC’s world renowned commercial dispute resolution services, practical trainings, and voluntary rules, guidelines, and codes that facilitate cross-border transactions and help spread best practice among companies.

McGraw and Carrier briefed Keqiang on the value of ICC as a key player to help Chinese companies operate internationally through close ties with ICC representatives and partners in the country. During discussions, the ICC delegation underscored objectives to increase the use of ICC’s international rules and procedures by Chinese companies to resolve business disputes that arise when doing business across borders. They also highlighted ICC’s practical suite of corporate governance and anti-corruption tools as well as tools to help businesses understand the importance of the intellectual property system and IP rights management.

The delegation also drew attention to the first official Mandarin translation
of the Consolidated ICC Code of Advertising and Marketing Communications Practice (ICC Code), launched in Beijing just a few days before the meeting during the 43rd World Advertising Congress.

Asia-Pacific CEO Forum

Ahead of the meeting with Keqiang, ICC leaders participated in the 2014 ICC Asia-Pacific CEO Forum in Kunshan to explore ways in which the Asia-Pacific region can help stimulate the global economy as it rebounds from crisis and garner the views of business leaders in the region. Combining interactive panel discussions and networking opportunities for some 300 business leaders from around the world, the Forum took place during the third China Import Expo, and this year served as the ICC World Business Leaders Conference.

“The Forum and the Expo are excellent examples of the vibrancy of business in China and the Asia-Pacific region and demonstrate the role it plays in shaping the world economy,” Carrier said.

Forum participants also joined an ICC G20 policy consultation, contributing business views from the region into ICC’s business recommendations to G20 leaders.

ICC events and meetings in China this week are in line with objectives of the organization to establish a greater presence in this important region and secure more participation in ICC’s work program from businesses in Asia.

McGraw Calls for Post-Bali World Trade Agenda at CEO Forum in China

USCIB and ICC Chairman Terry McGraw advocated for a post-Bali World Trade Agenda to create jobs and growth during the opening of the 2nd ICC Asia Pacific CEO Forum in China on May 14.

Regional leaders and CEOs from around the Asia-Pacific region gathered at the Kunshan Expo Center in Kunshan, China for the first day of the ICC Asia Pacific CEO Forum. Building on the success of last year’s inaugural event in New Delhi, the two-day forum aims to demonstrate the vibrancy of the business community in the Asia-Pacific region.

Read more on ICC’s website.

Staff contacts: Rob Mulligan and Justine Badimon

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EU Must Stand Firm on Investor Disputes

Published on May 14, 2014

By Shaun Donnelly

Investment Policy Central

“It is looking increasingly likely that investment issues, and especially the Investor-State Dispute Settlement (ISDS) provision, will be among the more controversial elements of the U.S.-EU negotiations on the Transatlantic Trade and Investment Partnership (TTIP). Most recently, the Directorate General for Trade (DG Trade) within the European Commission, charged with leading negotiating efforts for TTIP, has called for a ‘pause’ in those investment negotiations.”

Read the full post: http://www.investmentpolicycentral.com/content/tell-european-union-where-go%E2%80%A6%E2%80%A6on-investment

Eva Hampl Joins USCIB as Director of Investment Trade and Financial Services

Published on May 13, 2014
Eva Hampl
Eva Hampl

New York, N.Y., May 13, 2014 – Eva Hampl, an attorney and former Senate staffer, has joined the United States Council for International Business (USCIB) as director of investment, trade and financial services. She will be based in the organization’s Washington, D.C. office.

“We’re happy to welcome Eva to our trade and investment team,” said USCIB President and CEO Peter M. Robinson. “She brings valuable knowledge and experience in treaties and regulations affecting cross-border commerce. This will help us bolster USCIB’s leadership position in investment, trade and financial services.”

Hampl will work with Shaun Donnelly, USCIB’s vice president of investment and financial services, to coordinate the organization’s activities on cross-border investment and global finance. She will manage work in those areas by engaging with the U.S. government and working through USCIB’s global business network: the International Chamber of Commerce (ICC), the International Organization of Employers (IOE) and the Business and Industry Advisory Committee (BIAC) to the OECD. Hampl will also support Robert Mulligan, senior vice president for policy and government affairs, on trade policy issues.

USCIB advocates for opening global markets by eliminating barriers to trade and investment, and promotes polices that spur sustainable, market-led economic growth that contributes to job creation in the United States and around the world. By providing innovative thinking on cross-border investment and financial services, USCIB helps build industry consensus for positions that facilitate international business.

Hampl recently completed a fellowship with GE’s Global Government Affairs and Policy division, and she has served as a trade associate with the U.S. Senate Committee on Finance. She also interned with the trade section of the European Union delegation to the United States, and she served as a law clerk to the Connecticut Superior Court.

With a background in investment and trade law, Hampl holds a master’s of law in international and comparative law from The George Washington University Law School, as well as a law degree from Suffolk University Law School.

About USCIB:

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

Contact:

Jonathan Huneke, USCIB

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

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Great Opportunities Ahead for G20

Published on May 12, 2014

Delivering an update on B20 task force work to a meeting of ICC G20 CEO Advisory Group deputies in Paris last week, Robert Milliner, Australia’s B20 Sherpa, said that the G20 was starting to recognize business issues and that great opportunity lay ahead thanks to agreement among all G20 leaders that economic growth and job creation were their key drivers. The way forward now, he said, was to refine work to provide even more specific recommendations to G20 leaders.

Speaking to the representatives of business leaders from major corporations at ICC’s global headquarters, Milliner said that ICC’s B20 role was important to building a continuity framework, as presidency changes from year to year, and expressed appreciation for the experience ICC brings to the process. Milliner went on to outline B20 progress and gave an overview of plans for the G20 Summit, set to take place this July in Sydney ahead of the G20 leaders’ summit later in the year.

Click here to read more on ICC’s website.

Staff contact: Rob Mulligan

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Robinson Talks Trade and Investment at OECD Forum

Published on May 7, 2014
USCIB President and CEO Peter Robinson with Sharon Burrows, general secretary of the International Trade Union Confederation.
USCIB President and CEO Peter Robinson with Sharon Burrows, general secretary of the International Trade Union Confederation.

Trade and investment have become more intertwined, reinforcing and interdependent, USCIB President and CEO Peter Robinson told the annual OECD Forum in Paris on Tuesday, stressing the importance of global value chains and the need for smarter policies to foster FDI – and the growth and jobs it creates.

Robinson took part in a panel discussion moderated by Shawn Donnan of the Financial Times on the new realities of cross-border trade, including the development of highly integrated global value chains where various stages of R&D, production and distribution are scattered across many different countries. The session encouraged debate among panelists and the audience about how to adapt policies to meet the new, interconnected trade and production landscape.

In his remarks, Robinson identified three important trends – the growth of global value chains, the interdependence of trade and investment, and the dangers of protectionist policies such as forced localization and data flow restrictions – as he had highlighted at the BIAC/TUAC pre-Ministerial consultations with the OECD and the Japanese last month in Tokyo. He called for policies that acknowledge that the world of trade has shifted towards global value chains, and noted that the role of foreign direct investment is crucial and should be central to the discussion along with trade.

Other speakers at the Future of Trade panel included Robert Carvalho de Azevêdo, director general of the WTO; James Bacchus of Greenberg Traurig, chair of the Commission on Trade and Investment Policy at the International Chamber of Commerce; Sharan Burrow, general secretary of the International Trade Union Confederation; Tim Groser, New Zealand’s minister of trade; and Tadayuki Nagashima, executive vice president of the Japan External Trade Organization.

Trade and investment are two sides of the same coin, Robinson explained, neither will occur alone. Cross-border trade requires investment as well as investment protection like the investor state dispute settlement to help balance legitimate government needs and dispute resolution.

Robinson also warned that trade barriers are going up behind the border, handicapping the development of integrated global value chains. He encouraged the OECD to continue research on the impact of policies that localize production and content and limit data flows on global value chains.

The business community ideally favors a global approach to trade and investment liberalization, Robinson said. But he noted its encouragement of regional and functional initiatives such as the Trans-Pacific Partnership (TTP), the Transatlantic Trade and Investment Partnership (TTIP), and the Trade in Services Agreement and leveraging where possible those plurilateral or bilateral coalitions of the willing into multilateral ones. Robinson also thanked the OECD for its high-quality work on trade analysis, such as Trade in Value Added.

The OECD Forum takes place each year around the OECD’s ministerial council meeting, which this year focused on “Resilient Economies and Inclusive Societies.” A high-level United States delegation participated in the OECD ministerial, advancing efforts to level the playing field for American businesses and promoting a more open and outward-oriented OECD. The delegation included U.S. Trade Representative Michael Froman, Council of Economic Advisors Chairman Jason Furman and the new U.S. ambassador to the OECD, Daniel Yohannes.

Staff contact: Rob Mulligan

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Business Groups Line Up to Support Global Investment In American Jobs Act

Published on May 6, 2014
A Nissan Rogue rolls off the assembly line at Nissan’s Smyrna, Tenn. plant in October 2013, the 10 millionth vehicle produced at the facility.
A Nissan Rogue rolls off the assembly line at Nissan’s Smyrna, Tenn. plant in October 2013, the 10 millionth vehicle produced at the facility.

USCIB joined the Organization for International Investment and a number of other trade associations last week in sending a letter to Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell promoting the Global Investment in American Jobs Act of 2013 (S. 1023/H.R. 2052).

H.R. 2052 passed the House of Representatives in September 2013, and was approved by the Senate Committee on Commerce, Science and Transportation on April 9 of this year. Last week’s coalition letter urges Senators Reid and McConnell to take swift action on the bill. It follows a letter to the U.S. House of Representatives in July 2013, and one to the U.S. Senate in September 2013, constituting the third such effort in which USCIB has been involved.

“Foreign direct investment (FDI) is vital for American jobs and economic growth,” said Shaun Donnelly, USCIB’s vice president for investment and financial services. “In order to remain globally competitive and attractive to foreign investors, the United States should undertake the measures provided for in this bill.”

According to Donnelly, inward FDI brings not only needed capital but also technology, innovation and access to foreign markets. He said USCIB was pleased to see progress on the Global Investment in American Jobs Act of 2013, and would continue to push for its passage.

Staff contacts: Shaun Donnelly and Eva Hampl

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At Japan Consultation Business Calls for Bold Action to Support Private Sector-Led Growth

Published on April 18, 2014

Renewed Focus on Investment Urged

USCIB and its partners in BIAC have urged the OECD to sharpen its focus on policies affecting cross-border investment. An April 17 letter from BIAC Secretary General Bernhard Welschke to OECD Secretary General Angel Gurria reflected on recent high-level BIAC-OECD discussions of FDI.

Welschke wrote that “business observes a proliferation of restrictions on foreign direct investment, often hidden and difficult to counter.” He said the OECD must continue to serve as a champion of cross-border investment – and the jobs and growth it spurs.

Other examples of the renewed focus on investment issues include the January annual BIAC Executive Board meeting with OECD ambassadors, where Charles Heeter, BIAC’s U.S. board member, played a lead role, and USCIB President and CEO Peter Robinson’s participation at the Tokyo consultation (see main article).

At an April 8 consultation in Tokyo, the Business and Industry Advisory Committee to the OECD (BIAC) called on the Organization for Economic Cooperation and Development (OECD) and on the government of Japan to promote policies that facilitate open and efficient markets and lead to more sustainable growth.

BIAC, representing the leading business organizations in OECD countries, pointed to the importance of trade and investment as major engines of the world economy.

“We are at a crossroad for our economies and business,” said BIAC Chair Phil O’Reilly, the chief executive of Business New Zealand.

“Much has been said about ways to distribute income and wealth in our societies, but not enough concerning the question how we better encourage entrepreneurship, investment, and employment. We are prepared to support an OECD agenda that will promote structural reforms in OECD countries to strengthen the resilience of our economies and societies.”

BIAC Vice Chair Katsutoshi Saito, chairman of Dai-Ichi Life Insurance Company, underlined the need for a “more coordinated approach to financial regulation that is conducive to economic growth, financial stability and investment.”

USCIB President and CEO Peter Robinson said: “Implementation of the WTO Bali package is pivotal to strengthening international trade. The challenge for 2014 and beyond will be for governments to develop policies that reflect the needs and realities of the contemporary trade environment. The OECD has an important role to play in providing the economic analysis on global value chains that illustrate the positive impact of trade policies for our economies and societies.”

 

Staff contacts: Rob Mulligan and Shaun Donnelly

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USCIB Weighs in on the Effect of TTIP on the Global Fashion Industry

Published on March 18, 2014
L-R: Arthur Bodek (Grunfeld, Desiderio), Justine Badimon (USCIB), Maristella Iacobello (PVH Corp.), Steve Lamar (American Apparel & Footwear Association)
L-R: Arthur Bodek (Grunfeld, Desiderio), Justine Badimon (USCIB), Maristella Iacobello (PVH Corp.), Steve Lamar (American Apparel & Footwear Association)

Justine Badimon, USCIB’s director of regional initiatives, spoke to students, faculty and stakeholders at the Fashion Institute of Technology (FIT) on March 13 regarding the current status and backdrop of the Transatlantic Trade Investment Partnership (TTIP).

A TTIP agreement is anticipated to be a comprehensive high-standard trade and investment agreement between the U.S. and the EU that will support U.S. jobs and international competitiveness.

“Regulatory differences will be a major stumbling block for the negotiations, but USCIB anticipates seeing improved regulatory cooperation in a successful outcome,” Badimon said. She discussed the negotiators’ uncertain timeline for a conclusion of the agreement, indicating that European parliamentary elections in May and a new European Commission taking office in November will likely draw out the talks.

Badimon sat on a panel of industry experts, discussing the effects of TTIP on the global fashion industry through the scope of international business. The panel was co-sponsored by the European American Chamber of Commerce and FIT’s Department of International Trade and Marketing. Other speakers included experts from the American Apparel & Footwear Association, PVH Corp. and Grunfeld, Desiderio Lebowitz Silverman & Klestadt LLP.

The timely event coincided with the fourth round of U.S.-EU trade talks in Brussels from March 10-14, where TTIP negotiators continued deliberations on market access, regulation and rules, with a focus on benefits for small- and medium-sized enterprises (SMEs). During the presentations, panelists gave an overview of the challenges facing negotiations, especially those affecting the fashion industry such as convergence on regulation of labeling, rules of origin, chemical management and product safety standards.

 

Staff contact: Justine Badimon

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Taking Our TTIP Agenda to Europe

Published on February 24, 2014
USCIB’s Shaun Donnelly met with the media at the U.S. embassy in Paris…

Earlier this month, Shaun Donnelly, USCIB’s vice president for investment and financial services, visited France and the Netherlands on a U.S. government speaking tour, explaining the views and priorities of the American business community on the ongoing U.S.-EU negotiations of a Transatlantic Trade and Investment Partnership (TTIP).

A former U.S. ambassador and USTR trade negotiator, Donnelly has a long and deep background in transatlantic trade matters. “On this trip, I was able to convey USCIB and BCTT positions on the importance of achieving a TTIP agreement that is ambitious, comprehensive and high-standard,” he said. “We oppose sectoral or chapter carve-outs.”

Donnelly delivered several speeches, and took part in various seminars and interviews with local business groups, American chambers of commerce, media representatives, universities and think tanks. As the co-chair of two working groups (Investment and Competition Policy) in the broad Washington-based Business Coalition for Transatlantic Trade (BCTT), he is one of several USCIB staff members playing leadership roles in the BCTT effort. USCIB Senior Vice President Rob Mulligan represents USCIB on the BCTT Steering Committee.

…and spoke with students at France’s Ecole des Hautes Etudes Commerciales.

Donnelly particularly emphasized the importance of strong investment provisions (including investor-state dispute settlement) as well as protecting intellectual property rights, ensuring cross-border data flows, and reducing regulatory and product-standard barriers in both directions.

As he did during a similar TTIP-focused visit to Denmark last October,  Donnelly sought to strengthen coordination on TTIP with key European business groups. And lucky for him, he avoided all the terrible weather afflicting so much of the United States!

Staff contact: Shaun Donnelly

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BIAC Chairman Talks Trade at Washington DC Forum

Published on February 4, 2014

On January 31, Phil O’Reilly, the chairman of BIAC, the Business and Industry Advisory Committee to the OECD, discussed trade policy and the Trans-Pacific Partnership (TPP) talks in remarks to the Global Business Dialogue forum in Washington, D.C.

O’Reilly, CEO of Business New Zealand, laid out broad conceptual points to guide the TPP parties. “It’s important that we don’t let today’s politics get in the way of what will be a deal that will transform the Pacific trading environment over the next 20 to 30 years,” he said.

Citing influential research from the OECD on global supply networks and trade in value-added, the BIAC chairman stated: “The world is increasingly dominated by global value chains, so that the new glue of trade is not containers going across a wharf, they are an outcome. The new glue of trade to my mind is investment.”

To read the full text of O’Reilly’s remarks, click here.

Staff contact: Rob Mulligan

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