USCIB Defends Foreign Direct Investment at OECD

USCIB has led private sector participation at a series of recent events organized by the OECD’s Investment Committee.  Kimberley Claman, director of international government affairs in Citi’s Washington office, was a lead speaker for the Business at OECD (BIAC) delegation in a condensed, virtual OECD annual International Investment Agreements Conference on March 29.

During a portion of the conference, titled “The Future of International Investment Agreements” on March 29, Claman laid out a coherent business vision on the importance of Foreign Direct Investment (FDI) flows, especially in a post-pandemic world, and of strong investment agreements to help provide the certainty, assurance and enforceability required by investors. “Typical of these OECD sessions, other speakers were skeptical of FDI and, especially of investment treaties, so having a strong business voice is critical,” said USCIB Senior Advisor Shaun Donnelly. “Kimberley did a great job.”

Donnelly returned to the OECD investment policy debates on March 31 as a lead speaker for BIAC in an early-morning, virtual seminar at the fifth session of the OECD’s long-running “FDI Qualities” policy dialogue. OECD staff laid out its latest research and analysis on FDI’s impact to an audience that included a diverse group of academics, NGOs and business representatives. The presentation focused on four areas selected from the United Nations Sustainable Development Goals (SDGs)– gender inclusivity, quality jobs and productivity enhancement, low carbon intensity, and promoting small and medium enterprises (SMEs).  Donnelly was the lead business commentator on the jobs and productivity session and spoke in the gender discussion, bringing a real-world, business perspective to the oftentimes academic nature of OECD seminars.

Donnelly was also back on the agenda as part of the BIAC Investment Committee leadership in the formal “stakeholder dialogue” with government representatives on the OECD Investment Committee at their April 8 wrap-up session following a week of OECD meetings.  This “stakeholder” session gave BIAC an opportunity to underline directly to the OECD committee its business perspectives and priorities on investment policy in a post-pandemic period.

“We see these OECD sessions on FDI policies, especially policies related to international investment agreements as important opportunities to present a business perspective on why FDI is so important to global economic growth, integration, trade and jobs,” said Donnelly, who is a retired U.S. Ambassador and trade negotiator.

Donnelly added: “Frankly, FDI, investment treaties and global economic integration are under unfair political attacks here at home and around the world.  We as business need to tell our story—how international investment flows, both inward and outward, are good for the American economy.  We welcome these opportunities to talk investment issues, not just with like-minded business groups but also with broader mix of participants that we find at OECD, UNCTAD and other UN sessions.  We are particularly grateful to Kimberley Claman from USCIB member company Citi for making time to take on a major speaking role. She did a fantastic job presenting how businesses in the real world approach investment decisions, and how those decisions are good for our economy.”

USCIB Joins COVID-19 Global Workplace Challenge

In advance of World Immunization Week later this month, USCIB has announced on April 6 that it has taken the “COVID-19 Global Workplace Challenge”—a commitment by companies to listen to employees’ needs and concerns about COVID-19 and encourage vaccine confidence and uptake.

The “Workplace Challenge” was launched this spring by Business Partners to CONVINCE, a multi-sector effort to empower a “vaccine-literate” public, based on trust in science and aligned commitment to future COVID-19 vaccines and other novel countermeasures.

“Business can play a pivotal role in addressing vaccine hesitancy with its extensive reach and the high level of trust imbued in employers by their employees,” said USCIB President and CEO Peter Robinson. “I encourage other companies and organizations around the globe to join the Workplace Challenge and, by doing so, showcase their commitment to make their workplaces safer and provide up-to-date information from health professionals to follow the science.

By joining the Workplace Challenge, USCIB agrees to:

  • Listen to employees’ needs and concerns about the impact and prevention of COVID-19
  • Follow the latest public health guidance to protect myself, my employees, my workplace, my customers, and my community from COVID-19
  • Promote vaccine literacy based on the latest scientific evidence of vaccination benefits and risks
  • Encourage vaccine confidence and uptake
  • Advocate for accessible, equitable, and timely vaccination of employees
  • Engage with communities, schools, faith-based organizations and public health leaders to stop the spread of COVID-19

For more information on Business Partners to CONVINCE or to join the Workplace Challenge, please visit: www.businesspartners2convince.org.

Digital Economy Architects to Keynote at Joint OECD, Business at OECD and USCIB Conference

New York, N.Y., March 16, 2021 — For the past year, the COVID-19 pandemic has required us to conduct our lives virtually and has, subsequently, highlighted the relevance of the OECD’s Internet Policy Principles (IPPs). These principles call for a global free flow of information and services, multistakeholder participation, and cooperation to ensure Internet security and privacy. With these issues in mind, USCIB joined with the OECD and Business at OECD (BIAC) to organize a Digital Economy Conference focusing on “A Decade of OECD Internet Principles: Policy-Making in a Data-Driven World.” Key experts, such as MIT’s Daniel Weitzner, Microsoft’s Julie Brill, Deputy Assistant Secretary of Commerce Christopher Hoff, Ambassador David Gross of Wiley, and Sharri Clark from the White House, as well as OECD’s Andrew Wyckoff, among others, will discuss the evolving digital ecosystem, Artificial Intelligence (AI), government access to data, and challenges to both business and policymakers.

“The IPPs, adopted in 2011, have underpinned the OECD’s evolving work on digital economy issues in the past decade,” said USCIB Vice President for ICT Policy Barbara Wanner. “These themes have also been echoed in recent digital economy work of the United Nations, the UN Internet Governance Forum, and other multilateral bodies.”

The May 25 virtual conference, officially the “Joseph H. Alhadeff Digital Economy Conference,” will consider how the IPPs have been reflected in some of the OECD’s ground-breaking digital work – such as development of the AI Principles. Industry experts will also consider how the Principles may be employed to address challenges posed by the rapid pace of digital innovation and related changes to the digital ecosystem.

Registration is now open for this conference. Please contact Erin Breitenbucher to register: ebreitenbucher@uscib.org.

Members of the press and media are also welcome to register and join.

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. As the U.S. affiliate of the International Chamber of Commerce, the International Organization of Employers and Business at OECD (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.

USCIB Welcomes Appointment of Mathias Cormann as New Head of OECD

Mathias Cormann speaks during a Senate inquiry at Parliament House in Canberra, October 20, 2020. (AAP Image/Lukas Coch)

New York, N.Y., March 15, 2021—The United States Council for International Business (USCIB), which represents many of the world’s leading companies and which serves as the U.S. Member Organization of Business at OECD (BIAC), welcomed the announcement of Mathias Cormann, a former Australian finance minister, as the candidate to be appointed the next OECD Secretary General.

Phil O’Reilly, chair of Business at OECD, noted that the OECD’s ability to bring solutions to global challenges relies on its effective consultation with the private sector. “Our input has been critical to the success and implementation of major OECD initiatives,” O’Reilly stated. “Our strengthened collaboration will be essential to further increase the OECD’s policy impact in the coming years.”

“Multilateralism matters now, more than ever, and all of us at USCIB look forward to a productive partnership and a collaborative relationship with the new OECD Secretary General,” said USCIB President and CEO Peter Robinson. “USCIB and our members rely on BIAC’s work with the OECD to achieve the right policy responses and guidance. This cooperation will be critical as we all work together towards economic and social recovery from the COVID-19 pandemic.”

Cormann will succeed Ángel Gurría following his 15-year tenure with the Organization. “We thank Mr. Gurría for his strong leadership and look forward to hitting the ground running with Mr. Cormann to show that multilateralism delivers clear benefits for business and societies,” stated Hanni Rosenbaum, executive director of Business at OECDRick Johnston, Managing Director, International Government Affairs at Citibank, and a vice chair of Business at OECD, joined Robinson in expressing deep appreciation to Secretary-General Gurria for a long and cooperative relationship over his tenure at OECD.

Cormann will assume the role of Secretary General on June 1, 2021 and, upon assuming his post, will be the first person from the Asia-Pacific region to lead the OECD.

In Statement on International Women’s Day, USCIB Recognizes Setbacks Women Face Due to COVID-19

New York, N.Y., March 08, 2021 — On this year’s International Women’s Day, USCIB joins the global community in recognizing the critical contributions of women in responding to, and recovering from, the COVID-19 pandemic — often at the cost of hard-fought gains in equality and economic empowerment. Our task going forward is to ensure that these gains are recovered and that progress continues.

USCIB and its members have long championed the critical role of women’s education, employment and entrepreneurship for their own and their families’ health and well-being, as well as for the health and competitiveness of the societies and economies in which we live and do business. The United Nations report on “The Impact of COVID-19 on Women ” highlights the disproportionate impact that the pandemic has had on women and girls and rightly stresses that we must keep this disparity in mind, as well as be purposeful in championing women as we undertake the task of rebuilding our economies. This shared task confronts governments, business and civil society alike.

Through our engagement in the International Organization of Employers (IOE) and Business at OECD (BIAC), we will continue to work with our business counterparts around the world to address the barriers that continue to confront women and girls and to advance the opportunities that will allow them to thrive and our enterprises to prosper.

Please visit the UN Women’s page for International Women’s Day 2021 “Women in leadership: Achieving an equal future in a COVID-19 world” for statements, stories and updates.

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. As the U.S. affiliate of the International Chamber of Commerce, the International Organization of Employers and Business at OECD (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.