USCIB is participating in a review of the model U.S. bilateral investment treaty (BIT). The United States currently has BITs with some 40 other countries, and their provisions are included in many U.S. free trade agreements. The treaties help protect private investment, develop market-oriented policies in partner countries and promote U.S. exports.
Scott Miller (Procter & Gamble), who chairs USCIB’s Trade and Investment Committee, Ted Posner (Crowell & Moring) and USCIB Vice President Stephen Canner are participating in a review of the model treaty. The review is taking place under the auspices of a sub-group of the State Department’s Advisory Committee on International Economic Policy, chaired by Alan Larson (Covington & Burling) and Thea Lee (AFL-CIO). Others participating in the review are drawn from business, labor and the NGO community.
From a USCIB perspective, our objectives are to correct the shortcomings of the model BIT revised in 2004 and to establish a new model that sets the highest standards of market access, investor protection and dispute resolution. The sub-group’s report will be Advisory Committee in late September. USCIB’s Mr. Canner made a statement at a public hearing on the matter that is available on USCIB’s website at www.uscib.org/docs/2009_07_29_model_bit.pdf.