USCIB has joined several business associations in urging the United States and the European Union to take up shared issues relating to foreign investment as a priority matter.
In a letter to EU Trade Commissioner Karel De Gucht and Michael Froman, the U.S. deputy national security advisor for international economic affairs, the business groups argues strongly in favor of reinvigorating the U.S.–EU Investment Dialogue with special attention to:
- coordinating efforts including promoting strong investment protections in key third countries, especially countries such as China, Russia, Ukraine, India and key countries in Latin America;
- highlighting that a major theme of “third-country” discussions should be how the EU and U.S. can use investment and other agreements to mitigate the anticompetitive effects of government supports for state-owned enterprises;
- reiterating a long-standing position that any evaluation of inward investment should contain safeguards to ensure that it is limited to legitimate national security concerns; and
- tracking investment negotiations and handling of BITS in the EU as the authority for negotiating BITS has shifted from the member states to the EU Commission.
USCIB is seeking input from members on the range of issues to be taken up when the investment dialogue is revived.