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.”

Staff Contact:   Shaun Donnelly

Senior Advisor

Until his retirement from USCIB in April 2020, Shaun Donnelly led USCIB’s work on foreign investment policy, treatment of multinational and state-owned enterprises and financial services. In retirement, he now serves as a part-time Senior Advisor to USCIB leadership. A career diplomat in the U.S. Department of State’s Foreign Service, Donnelly joined USCIB’s Washington office in 2011 after a thirty-six-year career in U.S. government service. With USCIB, Donnelly became a leading spokesman around the world for U.S. and international business on international investment policy issues.
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