At this week’s OECD Forum in Paris, OECD Secretary General Angel Gurria launched a new OECD report on Interconnected Economies: Benefitting from Global Value Chains, which discusses the challenges and opportunities facing advanced, emerging-market and developing economies as they seek to integrate into the global marketplace.
USCIB President and CEO Peter Robinson participated in a program at the Forum discussing global value chains and this new report. He commended the OECD for this work and highlighted the importance of policies that will facilitate the ability of companies to operate through the global supply networks they need to compete and reach consumers around the world.
Robinson cited the recent study by Matthew Slaughter of Dartmouth, American Companies and Global Supply Networks: Driving U.S. Economic Growth and Jobs by Connecting with the World. That study, commissioned by USCIB and the Business Roundtable, references the latest data on company operations and employment to underscore how global companies’ success abroad also benefits America – by expanding exports, generating demand for intermediate inputs, promoting domestic R&D and spurring new jobs at home to support sales to overseas markets.
More information on OECD work on global value chains is available on the OECD website at http://oe.cd/gvc.
In a related move, the OECD and the World Trade Organization have released an update of their joint database on trade in value added, which was first unveiled in January. The update deepens the database’s analytical depth by presenting the indicators for a wider country coverage, and by expanding the reference years. Read more at http://www.wto.org/english/news_e/news13_e/miwi_17may13_e.htm.
Business Meets With OECD Ministers
USCIB Senior Counsel Ronnie Goldberg was among the business leaders from BIAC, the Business and Industry Advisory Committee to the OECD, who met on May 29 with the OECD Ministerial Counsel, which is made up of top government officials from across the 34-nation OECD. At the annual high-level consultation, BIAC members urgently called for a more business-enabling environment. The OECD Economic Outlook for 2013 points to an uneven recovery of the global economy and challenges for governments to implement appropriate policies for more growth and employment. Click here to read BIAC’s press release on the meeting.
Staff contact: Rob Mulligan