Category: Press Releases and Statements

NFTC Calls on Congress to Look at Real Port Security Threats, Not Ownership Issues

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Bill Reinsch offers testimony before the House Committee on Financial Services, Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
 

WASHINGTON, DC – National Foreign Trade Council President Bill Reinsch today again expressed the group’s support for the Administration decision to allow United Arab Emirate-owned Dubai Ports World to acquire a company responsible for operations in six American ports.

Emphasizing the importance the American business community places on port security, Reinsch drew the Subcommittee’s attention to the historic role of foreign-owned businesses in American port operations. 
“Port terminal operations have been substantially foreign-owned for some time without complaint.  It appears that the problem this time is not with foreigners in general but with specific foreigners,” Reinsch stated.  He then characterized this differentiation as a very negative message to U.S. allies in the Middle East.

“Those who oppose this acquisition are implying that it doesn’t matter if you cooperate with us on fighting terrorism and on other matters; it doesn’t matter if you are negotiating a free trade agreement with us; it doesn’t even matter if you have donated $100 million to Katrina relief as the UAE has; we’re going to treat you as a terrorist-supporting nation anyway.”

Shifting his focus to CFIUS reform proposals, Reinsch described the current system as both effective and appropriate.  “The United States has historically followed – and benefited greatly from – an open investment policy.  The CFIUS process was created to permit government intervention for compelling national security reasons.  Congress wisely chose to insulate the process from politics and publicity both because of the sensitivity of the data about an acquisition the government would be obtaining and because of the sensitivity surrounding any national security issues that were identified and any solutions proposed to address them.”  He went on to discuss the merit of individual reform proposals and concluded by cautioning that changing the CFIUS approach should only be undertaken with the greatest care.

A copy of Bill Reinsch’s full testimony is available on the NFTC website at http://www.nftc.org/default/tCFIUS.doc.


 

The National Foreign Trade Council ( www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

 

USA*Engage Commends Strong European Response to Iranians

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Urges Multilateral Action in Response to Iran’s Nuclear Program

Washington DC – The National Foreign Trade Council (NFTC) and USA*Engage today commended the response of the United States and our European allies to the threat posed by Iran’s resumption of its nuclear program.

“It is tremendously important for the United States and all of our allies to take a firm and unified stand against a nuclear Iran,” said USA*Engage Director Jake Colvin. “We applaud the efforts of the United States, together with Britain, France and Germany, to refer this matter to the United Nations Security Council.”

USA*Engage continues to advocate for a multilateral solution to the current impasse, and urges all UN Security Council Members to establish an appropriate response to Iran.

While encouraged by current multilateral efforts, USA*Engage Co-Chair and NFTC President William A. Reinsch cautioned that unilateral moves by the United States would not help the situation. “Time and time again we have seen that unilateral economic sanctions by the United States do not work,” Reinsch said. “Unilateral measures – including some bills pending in the U.S. Congress – would harm relations with our allies without achieving the results we all desire.”

USA*Engage opposes legislation pending in Congress that would severely restrict the Administration’s flexibility to conduct foreign policy with respect to Iran. The organization has urged the Administration and Congress to redouble its efforts to achieve a multilateral resolution.

 

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

USA*Engage (www.usaengage.org) is a broad-based coalition representing Americans from all regions, sectors and segments of our society concerned about the proliferation of unilateral economic sanctions at the federal, state, and local level. Established in 1997, USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide. USA*Engage promotes responsible alternatives to unilateral sanctions that advance U.S. humanitarian and foreign policy goals, such as intensified U.S. diplomacy and multilateral cooperation.

 

NFTC Calls for Concerted Leadership Post-Hong Kong

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The Time for Posturing Is Over

Washington DC – At the conclusion of the Hong Kong Ministerial, Bill Reinsch, President of the National Foreign Trade Council (NFTC), issued the following statement:

“Despite the strong leadership of the United States and a few other WTO Members who support ambitious trade liberalization, the NFTC is disappointed that further progress was not achieved on the core issues.

“We commend Ambassador Portman’s inspired leadership and the US negotiating team’s dedication to ambitious market access results from the Doha Round.  The NFTC firmly believes that such an outcome will generate global economic growth and real benefits for developed and developing countries. 

“Trade Ministers could have accomplished more.  If all major trading partners had demonstrated political will, we would be closer to our goal of a successful and ambitious conclusion to the Doha Round in 2006.  The EU paralysis on agricultural market access remains a serious stumbling block.  We are also concerned that several WTO Members seem to have lost sight of the main purpose of the WTO — to boost economic growth and living standards globally through trade liberalization and improved trade governance. 

“The NFTC remains committed to an ambitious conclusion to the Doha Round in 2006.  The next 90 days are absolutely critical.  We need to build on the Hong Kong Ministerial Declaration to set the stage for the tabling of detailed market access offers.  The NFTC urges WTO Members to demonstrate the necessary political leadership to get the job done.  The time for posturing is over, the time for meaningful action is now.”

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

National Foreign Trade Council Board Elects a New Chairman

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Dinesh Paliwal of ABB Group to Lead the Historic Free Trade Organization

Washington, DC – Meeting in New York City on Friday, the National Foreign Trade Council (NFTC) Board elected as its new chairman, Dinesh Paliwal, Chairman and Chief Executive Officer of the ABB Group in North America.  Paliwal also heads ABB’s Automation Technologies division worldwide and is Chairman of ABB India Ltd.

ABB is a global leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact.  The ABB Group operates in around 100 countries and employs over 100,000 people.

“Dinesh Paliwal brings business leadership that spans twenty-five years and four continents to the NFTC helm.  His keen understanding of the importance of establishing a expanding a global rules-based free trading system will be of incredible value to our organization,” said Bill Reinsch, NFTC President.  “We are extremely grateful to him for adding this responsibility to his already very busy professional life.”  Paliwal is also a board member of the U.S.-India Business Council, the U.S.-China Business Council and a member of the Business Roundtable.  He replaces Michael Jordan, Chairman and CEO of EDS, who has served as NFTC’s Chairman since December 2001.

“Over the past four years, Michael Jordan has led NFTC through some very important free trade milestones for the U.S. including the signing of free trade agreements with Chile, Morocco, Australia and the nations of Central America through the Dominican Republic-Central America Free Trade Agreement.  Today, we stand at a point of amazing potential.  The current Doha Round of WTO talks could facilitate the expansion of the free trade system across the globe driving tremendous economic growth and development,” stated Reinsch.  “But, there is much to be done to see this goal realized.  And, we will rely heavily on the leadership of Dinesh Paliwal the entire NFTC Board and membership.” 

The National Foreign Trade Council is a leading business organization advocating an open, rules-based world economy. Founded in 1914 by a group of American companies that supported an open world trading system, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

 

EDS Chairman and CEO to be Honored with World Trade Award

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Washington DC – The National Foreign Trade Council (NFTC) announced today that Michael Jordan, Chairman and CEO of EDS, is the recipient of its prestigious 2005 World Trade Award.  He will receive the Award on December 2, 2005, at the NFTC’s Annual World Trade Dinner and Award Ceremony in New York City.

“Michael Jordan has been an important voice advocating the benefits of expanded trade both as a business leader and as Chairman of the NFTC.  His strong leadership has been a significant asset to NFTC as we’ve worked to advance a more open, rules-based international trading system,” said Bill Reinsch, NFTC President.  “We are extremely grateful to him for his service as NFTC Chairman, and are delighted to add his name to the list of distinguished recipients of the World Trade Award.”
 
By accepting NFTC’s World Trade Award, Jordan carries on a tradition that dates from 1937. The award has a history of recognizing recipients who are respected in the community for building consensus and promoting the benefits of open trade and investment and on the basis of proven lifetime leadership in advancing global commerce.

Jordan joined EDS as Chairman and CEO in March 2003 and has helped reestablish the company as a leader in the global information technology and business process outsourcing services market.  He is the retired Chairman and CEO of CBS Corporation (formerly Westinghouse Electric Corporation), which he led through one of the most comprehensive transformations of a major U.S. corporation in history. Before joining Westinghouse, Jordan was a partner with Clayton, Dubilier and Rice, one of the oldest and most respected private investment firms in the world.  Before that, he spent 18 years with PepsiCo, Inc.
 
In addition to serving as Chairman of NFTC, Jordan is a trustee of The Brookings Institution; a member and former chairman of the U.S.-Japan Business Council; a member and former chairman of the United Negro College Fund; a member of The Business Council; a member of the board of trustees of the United States Council for International Business; a member of the Business Roundtable; and a director of Viventures, the former investment fund of Vivendi. He also serves on the boards of Aetna Inc. and several smaller, privately held companies.

The National Foreign Trade Council is a leading business organization advocating an open, rules-based world economy. Founded in 1914 by a group of American companies that supported an open world trading system, the NFTC now serves hundreds of member companies through its offices in Washington and New York.