How can trade associations, with their broad industry networks, help develop standards and rules for their members both in and across borders? On June 10 USCIB’s Vice President for Product Policy and Innovation Helen Medina participated in a conference organized by the Rutgers Law School Center for Corporate Law and Governance, the International Organizations Interest Group (IOIG) of the American Society for International Law, and the Rutgers Institute for Professional Education.
The “Industry Associations and Transnational Governance Conference” brought together practitioners and scholars to discuss the role of trade associations in transnational governance. The aim was to obtain a deeper understanding of how trade associations develop and administer standards and rules for their members and their industries both within and across borders. The discussion also informed the audience how industry associations are involved in formal law-making or soft-rule making bodies of governments and international organizations.
The conference gave Medina a unique opportunity to speak about why industry is interested in international organizations and how the various institutions engage with industry associations and civil society. Medina outlined why it is important for industry to participate in policy discussions and reminded participants that good regulatory outcomes are built on the cooperative effort among government, regulators, the regulated and the broader stakeholder community.
“Policymakers understand this concept of consulting with stakeholders and the importance of having various perspectives in rule making,” Medina said. “Industry associations are often called upon to provide input as experts on a certain topics.”
She spoke about the importance of using a whole-society approach to dealing with global challenges and industry associations and their members play a huge part in bringing solutions to the economy and marketplace.