Investor State Dispute Settlement (ISDS) took center stage at stakeholder forum of the U.S.-EU Transatlantic Trade and Investment Partnership (TTIP) negotiations on October 1, with anti-business groups strongly opposing ISDS amid activist protests and political criticisms on both sides of the Atlantic.
Shaun Donnelly, USCIB’s vice president for investment policy, led the defense of investment provisions, including strong dispute settlement rules.
Representing transatlantic business, Donnelly spoke out for strong investment provisions, including ISDS, following a political diatribe on the perceived evils ISDS from a local NGO. He argued that investment is critical to growth, competitiveness and jobs in the U.S. and EU and that foreign direct investment is vital to overall investment flows.
Donnelly debunked urban myths on investment and ISDS, arguing that strong investor state dispute provisions in TTIP are essential because they give foreign companies a fair hearing by a panel of experts, without which they would otherwise face discrimination in domestic courts. Investment provisions are also crucial for setting a good model for other bilateral and regional trade initiatives. Press reports highlighted Donnelly’s role in standing up for common sense, pro-business investment policies.
Staff contact: Shaun Donnelly
Obama Reappoints USCIB Chairman to Advisory Committee for Trade Policy
The White House issued a press release on October 1 listing presidential appointees to key administration posts. Among them, USCIB Chairman Terry McGraw has been appointed as a member of the Advisory Committee for Trade Policy and Negotiations. McGraw is also chairman of the International Chamber of Commerce and chairman of McGraw Hill Financial [now S&P Global].