USCIB Applauds U.S.-EU Investment Principles

Published on April 10, 2012

US_EU_Flags

New York, N.Y., April 10, 2012 – The United States Council for International Business (USCIB) welcomes the joint statement of the United States and the European Union on “Shared Principles for International Investment,” issued today in Washington and Brussels.

The statement constitutes “a high-level, concise endorsement of the key role of international investment in the global economy,” said USCIB President and CEO Peter Robinson.

USCIB has represented U.S. business in a parallel and mutually-supportive effort by the International Chamber of Commerce (ICC) to update its own private-sector Guidelines for International Investment. The ICC Guidelines are in the final stages of preparation and will be rolled out later this month.

“We are particularly pleased to see the strong emphasis on a ‘level playing field,’ including for private firms in competition with state-owned or state-championed enterprises around the world,” said Robinson. USCIB also endorses the emphasis on strong protections for investors and investments and on effective dispute settlement provisions, including Investor-to-state arbitration. The call for transparency and responsible business conduct highlights important areas where the U.S. and EU companies can help set high standards for other nations around the world.

USCIB has long been a strong advocate for open and competitive international investment, both inward and outbound, as important vehicles for promoting economic growth, jobs and competitiveness. Business hopes that the U.S. and the EU will now move to bring other nations on board in adopting and acting upon these important concepts, which will benefit of businesses, workers and consumers in the U.S. and around the world.”

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top 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, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org

More on USCIB’s Trade and Investment Committee

Business Trade Experts Work to Break Deadlock in Global Trade Talks

Published on March 16, 2012

L-R: WTO Director General Pascal Lamy, ICC Honorary Chairman Victor K. Fung, USCIB Chairman (and ICC Vice Chair) Harold McGraw III, and ICC Chairman Gerard Worms. — L-R: WTO Director General Pascal Lamy, ICC Honorary
Chairman Victor K. Fung, USCIB Chairman (and ICC Vice Chair) Harold McGraw
III, and ICC Chairman Gerard Worms.

Business leaders and trade experts met in Geneva earlier this week for the first conference on the ICC Business World Trade Agenda, an initiative of the International Chamber of Commerce (ICC), part of USCIB’s global network. The initiative aims to ensure that business works together with governments to
drive more effective trade talks.

More than 70 business experts, including CEOs, senior corporate executives and representatives of business organizations, together with World Trade Organization (WTO) Director General Pascal Lamy, took part in the event. USCIB was represented by Chairman Harold McGraw III and Senior Vice President Rob Mulligan as well as a number of member executives.

Global business leaders involved in this initiative aimed to define multilateral trade negotiation priorities for business, and to help governments set a trade policy agenda for the 21st century that contributes to economic growth and job creation.

“It is crucial that governments work directly with the global business community to find answers to the current economic crisis,” said ICC Chairman Gerard Worms. “Opening trade and investment offers a stimulus to the global economy and would give business the clear sign that governments will not resort to protectionism.”

For the first time in 60 years, the multilateral trade negotiation process is at a standstill, and after 10 years, the Doha Development Agenda has reached a stalemate. Yet global trade remains a mainstay of the world economy and it is therefore crucial that global trade rules address the needs of the global marketplace.

“Business is especially troubled by the threat of increased protectionism from the world’s major economies. During this economic crisis, governments should be opening markets to stimulate their economies rather than putting up barriers to trade,” Victor K. Fung, chairman of the ICC Business World Trade Agenda initiative and honorary chairman of ICC said.

ICC launched in December 2011 the Business World Trade Agenda at the WTO Ministerial Conference in Geneva, answering the call from G20 leaders at the recent Summit in Cannes for new approaches to trade negotiations. ICC is bolstered by the support it has received from the WTO in engaging business to provide recommendations to advance global trade negotiations.

USCIB Urges Passage of Permanent Normal Trade Relations With Russia

Published on March 14, 2012

New York, N.Y., March 14, 2012 – The United States Council for International Business (USCIB), which represents America’s top global companies, is urging Congress to approve permanent normal trade relations (PNTR) with Russia, calling it essential for American business to fully benefit from new opportunities resulting from the country’s accession to the World Trade Organization.

“Russia has made, and continues to make, important progress in opening up its economy and building a more secure, predictable environment for business,” said USCIB President and CEO Peter M. Robinson. “As the world’s 11th-largest economy, with a burgeoning middle class and growing demand for U.S. goods and services, it’s far too important a market for us not to be fully engaged there.”

Under the terms of its WTO accession, Russia is obligated to implement a broad range of economic reforms that will further open its market to foreign goods and services, safeguard foreign investments, ensure greater respect for the rule of law and improve intellectual property protection. Business opportunities for U.S. firms in Russia are expected to grow in the coming years, with infrastructure and consumer spending predicted to increase significantly.

Passage of PNTR is required to graduate Russia from trade restrictions under the 1970s-era Jackson-Vanik amendment, a Cold War-era relic that has been deemed to violate WTO rules. Without the removal of Jackson-Vanik restrictions, Russia will not be obligated to extend the benefits of WTO accession to U.S. exporters, thereby putting them at a competitive disadvantage in the country.

Mr. Robinson cited Russia’s recent signature of the OECD Anti-Bribery Convention as an important indication that the country intends to rein in corruption and provide a fairer, more predictable environment for foreign companies. “The country is also working toward joining the OECD as a whole, which would entail significant additional liberalization measures,” he added.

Through its membership in BIAC, the Business and Industry Advisory Committee to the OECD, USCIB is working to advise the OECD and its member governments on appropriate terms for Russian entry into the organization, and is assessing the potential impact for U.S. business of Russian OECD membership.

About USCIB:

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

Contact:

Jonathan Huneke, VP communications, USCIB

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

More on USCIB’s Trade and Investment Committee

Trade and Investment Committee Reviews Broad Array of Developments

Published on March 13, 2012

At the March 1 meeting of USCIB’s Trade and Investment Committee discussed a wide range of issues. They met with Bruce Hirsch, trade counsel with the Senate Finance Committee, and heard about a recent trip by the committee’s chair, Sen. Max Baucus, to Russia and his support for moving forward on permanent normal trade relations (PNTR) with the country. Members also discussed customs reauthorization, the Trans-Pacific Partnership, China trade enforcement and developments in Argentina.

Members were also briefed on work in the International Chamber of Commerce to update the ICC Investment Guidelines, the OECD’s work on competitive neutrality for state-owned enterprises, ICC’s upcoming Geneva conference on the WTO, and preparations for business input to the G20 summit in Mexico.

USCIB members may contact Rob Mulligan (rmulligan@uscib.org) for more information and to obtain a written summary of the meeting.

Staff Contact: Rob Mulligan

More on USCIB’s Trade and Investment Committee

Business Pushes for Robust Trans-Pacific Partnership Agreement

Published on February 28, 2012

New York, N.Y., February 28, 2012 – The United States Council for International Business (USCIB), which represents America’s leading global companies, has joined 30 other leading U.S. business associations in pressing for an ambitious and comprehensive Trans-Pacific Partnership agreement, with robust enforcement and dispute settlement provisions. The business groups made their case in a letter to President Obama in which they urged the United States to push back strongly against Australian resistance to investor-state dispute settlement mechanisms like those found in other U.S. trade agreements.

The letter pointed out that investor-state provisions are already included in thousands of trade agreements and related instruments worldwide, including many to which Australia is a party. Such provisions, the business associations said, “promote the rule of law and serve as an important backstop to ensure that investors who risk their capital, property and talent in foreign countries will be able to enforce due process, non-discrimination, basic property and related protections in a neutral, balanced and objective forum.”

USCIB co-chairs the TPP Business Coalition’s investment committee, reflecting its role as a premier voice for liberalization of both trade and investment regimes around the world.

USCIB and the other letter signatories said Australia’s intransigence regarding investor-state provisions is thwarting the ability of the TPP negotiations to develop strong enforcement rules, and is “having a corrosive effect on the level of ambition and other key aspects of the TPP negotiations.” They expressed fear that, should Australia extract such a major exemption, “other countries would press forward to seek their own major exemptions from core commitments, which would ultimately unravel the ability to achieve a comprehensive, 21st-century TPP agreement.”

The letter noted that business concerns in this area are of practical, bottom-line importance. “As data from the U.S. Department of Commerce’s Bureau of Economic Analysis has shown over the past several decades, the U.S. investment overseas that strong investment rules promote brings important benefits back to the United States,” the business groups wrote.

“Firms that invest overseas are more globally competitive, export more, invest more in research and development and capital investment in the United States and pay their workers more than purely domestic companies. Promoting and assuring a level playing field for both inbound and outbound investment is therefore vital for the United States and the other TPP negotiating partners.”

About USCIB:

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

Contact:

Jonathan Huneke, VP communications, USCIB

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

More on USCIB’s Trade and Investment Committee

Business Applauds Rollback of Foreign Trade Zone Changes Urges Ex-Im Bank Reauthorization

Published on February 28, 2012

New York, N.Y., February 28, 2012 – The United States Council for International Business (USCIB), which represents America’s top global companies, applauded the Obama administration’s rollback of planned changes to the rules governing U.S. foreign trade zones (FTZs). USCIB had earlier said some of the proposed changes would impose significant hurdles for exporters.

The U.S. Foreign Trade Zone Board, an interagency body chaired by the Commerce Department, yesterday published final regulations that replace the current FTZ regulations. The new rules do away with a proposed change that would have required advance approval to bring goods into FTZs for manufacture, even for export, that would, if entered for consumption, be subject to antidumping or countervailing duty orders. In an October statement, USCIB and other industry groups had expressed serious concern about this proposed change.

“Our message all along has been that the Foreign Trade Zone Board should strongly promote, rather than inhibit, U.S. exports, and avoid taking steps that would result in a loss of manufacturing jobs in foreign trade zones,” said USCIB President and CEO Peter M. Robinson. “The proposed change would have negatively affected the ability of U.S. manufacturers to process materials for export, which runs counter to the purpose of a foreign trade zone.”

U.S. foreign trade zones accounted for $34.8 billion in exports in 2010 and employ some 330,000 American workers.

USCIB also joined with a number of other industry groups in urging quick passage of the four-year reauthorization bill for the Export-Import Bank of the United States. In a joint letter to President Obama, the groups said that “failure to reauthorize Ex-Im would amount to unilateral disarmament in the face of other nations’ aggressive trade finance programs.”

In a February 17 speech to workers at USCIB member company Boeing, Mr. Obama pledged to boost support for U.S. manufacturers facing subsidized foreign competition, in part through expanded Ex-Im financing for U.S. facing competition from state-subsidized firms.

About USCIB

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

Contact:

Jonathan Huneke, USCIB

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

More on USCIB’s Customs and Trade Facilitation Committee

More on USCIB’s Trade and Investment Committee

Business Urges Attention to Ongoing US-China Market Access Concerns

Published on February 14, 2012

New York, N.Y., February 14, 2012 – As this week’s visit by Vice President Xi Jinping focuses attention on the complexity of U.S. relations with China, the United States Council for International Business (USCIB) is urging leaders from both countries to tackle important commercial and economic matters in order to keep this mutually beneficial relationship on an even keel.

“The U.S.-China relationship extends across an array of geopolitical as well as economic issues, and our economies are now deeply intertwined,” stated USCIB President and CEO Peter M. Robinson. “On balance, it provides significant benefits for both countries. However, there remain too many commercial and economic issues handicapping the ability of American firms to compete in China and in third markets, thereby placing our workers at a disadvantage and impeding progress on the overall relationship. These need to be urgently addressed.”

Mr. Robinson said major trade and investment priorities for American companies in China include, but are not limited to:

improving market access for key industries
resolving longstanding currency disputes
improving protection of intellectual property rights, and
ensuring competitive neutrality for state-owned enterprises.

“We urge the two governments to focus on resolving these issues through diplomatic means, both bilateral and multilateral, and to reinforce existing forums like the WTO, the Strategic and Economic Dialogue, and the Joint Commission on Commerce and Trade,” he said.

The USCIB president noted recent progress by China toward closer bilateral ties with other countries, including last week’s signature of a trade and investment agreement with Canada. “We should be looking seriously at developing new agreements, such as a bilateral investment treaty (BIT) with China,” said Mr. Robinson. “These could ensure continued liberalization of key markets and provide important security to American investments in the country. Absent such agreements, American companies and workers could be disadvantaged when competing in China with companies from countries already benefitting from such agreements. We shouldn’t be sitting on the sidelines.”

Mr. Robinson also called attention to an October USCIB statement on China’s compliance with its WTO accession commitments. “As we noted in that statement, China has made important progress, but much work remains. Priority issues include improving transparency in China’s regulatory environment, the need for fair and independent regulators, greater market access, non-discriminatory treatment and inadequate intellectual property laws. We urge the U.S. and Chinese governments to take up these issues on a priority basis, and we stand ready to provide business views to help ensure a fully informed discussion.”

About USCIB:

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

Contact:

Jonathan Huneke, VP communications, USCIB

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

More on USCIB’s China Committee

More on USCIB’s Trade and Investment Committee

Talking Trade FIT

Published on February 11, 2012

Talking Trade @ FIT

Export Promotion Marketing

Moderator

Donna Sharp, Senior Partner, SHARP GLOBAL

Panelists

Amanda Barlow, Director, Carnet Development, US Council for International Business

Herb Ouida, International Trade Consultant

John Stillwaggon, Accounts Receivable Specialist, Accounts Receivable Risk Management, LLC, Coface

The panel will discuss the different government and financial programs to help exporting companies expand aboard.

When

Thursday, May 3, 2012

3:30 p.m. – 5:00 p.m.

Where

FIT

227 W. 27th St.

New York, NY 10001

“C” Building 9^th
floor Board Room

RSVP

Please send the names and affiliation of Non-FIT attendees of this event via email to: Nicole_Martin@FITnyc.edu by Thursday, 19 April, 2012

Encouraged by GPA Agreement and Russia Accession at WTO Ministerial, Business Pushes for New Approaches to Trade Liberalization

Published on December 17, 2011

New York and Geneva, December 17, 2011 – The World Trade Organization approval of a revised government procurement agreement and invitation for Russia to be the newest WTO member were seen as positive steps towards market liberalization by the business community, according to the United States Council for International Business (USCIB), which represents American industry views to international organizations and national governments. USCIB hopes members will follow through on pursuing new approaches for opening markets given the consensus that Doha negotiations have reached an impasse.

“Business has been pushing for an ambitious Doha deal since day one, but we recognize the difficulty faced by WTO members in making the necessary concessions for a balanced package,” said USCIB Senior Vice President Rob Mulligan, who was in Geneva for the ministerial. “We are encouraged, however, that governments are looking seriously at ways to move forward on trade absent a global consensus on Doha. Finding approaches that advance market liberalization will be critical to driving economic growth and job creation.”

In Geneva, governments agreed to update the WTO Government Procurement Agreement (GPA), which encompasses 42 member countries, and encourage non-member countries like China to join. Mr. Mulligan said business was interested in promoting serious discussion of additional plurilateral or other approaches that can move members beyond the current stalemate.

The International Chamber of Commerce (ICC), which USCIB represents in the United States, yesterday issued an open letter to G20 leaders, urging them to consider additional plurilateral trade agreements, saying these could spur economic recovery. ICC also released its latest Open Markets Index, which catalogues restrictions on trade and investment in the major economies. It said support for open trade voiced by G20 countries at the end of their summit in Cannes was not matched by their recent performance, which includes significant new commercial barriers in many countries. More on the ICC initiatives is available at www.iccwbo.org.

USCIB also welcomed final approval of the invitation for Russia to join the WTO, with Mr. Mulligan calling it an important and necessary step in further opening the country to rules-based trade. While in Geneva, Mr. Mulligan met with WTO officials, as well as government and business leaders from other countries, to discuss moving forward on new approaches to opening markets in the WTO.

“We will be taking a close look at the results of the ministerial and, with strong input from USCIB member companies, making recommendations to the U.S. government and the policy community on additional steps business sees as necessary to expand trade and investment through the WTO and other channels,” he said.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top 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, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or jhuneke@uscib.org.

More on USCIB’s Trade and Investment Committee

USCIB to Prepare Recommendations on Next Steps for Trade

Published on December 9, 2011

At the December 1 meeting of USCIB’s Trade and Investment Committee, chaired by Scott Miller (director of national government relations with Procter & Gamble), members moved forward on planned USCIB recommendations on the international trade and investment agenda.

With the recent passage of three long-pending free trade agreements with Colombia, Korea and Panama, the continued lack of progress in the WTO’s Doha Round and growing protectionist sentiment in many key markets, a USCIB task force is developing broad yet detailed recommendations for the United States and other governments on what is needed to spur greater liberalization of trade and investment. The recommendations are expected to be completed in February.

The committee held a discussion with Everett Eissenstat, trade counsel with the Senate Finance Committee, covering a wide range of trade issues including the recent APEC summit, the Trans-Pacific Partnership, Russia’s accession to the WTO, Customs reauthorization, Trade Promotion Authority, Doha and other trade priorities for 2012.

In addition, the committee reviewed plans for a possible USCIB study of global production networks and their impact on U.S. competitiveness. Members also heard an update on USCIB’s work USCIB on investment issues, especially state-owned enterprises and competitive neutrality.

Staff contact: Rob Mulligan

More on USCIB’s Trade and Investment Committee

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