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.”
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.
Jonathan Huneke, VP communications, USCIB
(212) 703-5043 or email@example.com