Washington DC – The National Foreign Trade Council today endorsed President Bush’s call for a U.S.-Middle East Free Trade Area.

“We applaud the vision of the Bush Administration in its call for a Middle East Free Trade Area,” said NFTC President Bill Reinsch. “Clearly there will be significant hurdles to overcome, but we believe that in the long-term, this is the right thing to do. If successful, increased trade will lift the region’s economy, greatly improve U.S. relations with many Arab nations, and would be a positive development for U.S. business and workers.”

The Bush proposal foresees a 10-year effort in which the pact would be negotiated. Currently, the U.S. has a free trade agreement with Israel and Jordan, and is well under way in negotiating the proposed U.S.-Morocco Free Trade Agreement. The NFTC serves as the co-Secretariat of the U.S.-Morocco FTA Coalition and has been a major champion of concluding a U.S.-Morocco FTA by the end of the year. The NFTC also supports the negotiation of additional FTAs with Egypt and other countries throughout the region.

“The recently enacted Jordan FTA has already achieved some very positive results, and has certainly helped solidify a strong U.S.- Jordanian relationship. It is reasonable to believe that improving economic ties with other Middle Eastern nations can help produce the same results,” Reinsch concluded.

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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 350 member companies through its offices in Washington and New York.

 

Washington DC – The U.S.-South Africa Business Council applauded this week’s announcement by South African President Thabo Mbeki that the South African government rejects the apartheid and reparations lawsuits that have been filed in U.S. courts against over 100 U.S. and foreign multinational corporations in favor of a South African reparation process under South African law. 

 

In his address to Parliament, Mbeki stated: “We consider it completely unacceptable that matters that are central to the future of our country should be adjudicated in foreign courts which bear no responsibility for the well-being of our country and the observance of the perspective contained in our constitution of the promotion of national reconciliation.”

 

“PresidentMbeki has made the correct decision in rejecting the claims of trial attorneys seeking to exploit South Africa’s apartheid past and reparations issue through litigation in U.S. courts,” said Dan O’Flaherty, Executive Director of the U.S. – South Africa Business Council.  “We don’t believe U.S. courts are the proper jurisdiction and therefore we support a dismissal of ATP cases.  We are gratified to see that the Government of South Africa agrees.”

 

 

 

 

The U.S.-South Africa Business Council is the leading business organization on trade and investment policy issues concerning South Africa and the SACU region.

 

 

 

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Washington DC. and Monterey CA –  The National Foreign Trade Council (NFTC) and the California Council on International Trade (CCIT) today announced a new cooperative agreement between the two organizations that will enable both groups to better advance the cause of an open rules-based trading system. The agreement, announced at CCIT’s 5th annual Monterey Congressional Forum on Trade Policy, lays out a framework for mutual cooperation on trade issues, joint events, and joint membership.

“CCIT is one of California’s leading voices in support of a free and open international trade policy. Given California’s importance to the U.S. and world economies, and the similar goals our organizations share, we believe this is a perfect partnership,” said Bill Reinsch, president, NFTC.

“California is by far this country’s top exporting state with an economy larger than all but four nations in the world. This partnership will enable CCIT to be an even stronger advocate of California’s critical pro-trade agenda, while offering our members a strong voice in the nation’s capital,” said CCIT president Joseph W. Harrison.

Specifically, the agreement includes:

1. The NFTC will serve as the Washington office for CCIT, providing advocacy with California Members of Congress and other trade officials. In turn, CCIT will serve as the western partner for NFTC.

2. The two organizations will co-sponsor events on a selective basis.

3. CCIT will provide a west coast presence for NFTC by organizing selected NFTC events in California, especially in the areas of international taxation and international human resources issues. CCIT will also organize California events for NFTC-umbrella organizations such as USA Engage and the US-South Africa Business Council.

4. The two organizations will develop ways to jointly distribute each other’s publications and announcements.

5. NFTC and CCIT will undertake a joint membership development program to include the creation of affiliate memberships at reduced rates.

The National Foreign Trade Council is a leading business organization advocating a rules-based world economy. Founded in 1914 by a group of American companies that supported an open world trading system, the NFTC now serves 400 member companies through its offices in Washington and New York.

CCIT is a 44 year-old trade association, the only statewide organization dedicated to advocating sound U.S. trade policy to open overseas markets for the benefit of California producers of goods and services that need those markets to fuel California’s economic growth


The award was originally established in 1937 by the Dollar Family of San Francisco in memory of Captain Robert Dollar, pioneer in American shipping and world trade and a charter member of the National Foreign Trade Council.

Strengthening Relationship with one of America’s Strongest Islamic Allies in War on Terrorism Also Cited

Washington DC – A U.S.-Morocco Free Trade Agreement (FTA) would not only benefit U.S. economic interests, it would also reinforce a relationship with one of America’s strongest allies in the war on terrorism in the Muslim world, said Bill Reinsch, president of the National Foreign Trade Council, in his testimony before the United States Trade Policy Staff Committee.

“At a time when many voices in the Arab and Muslim worlds are calling for boycotts against the United States, Morocco is seeking a closer economic relationship with America,” said Reinsch.

The NFTC is a founding member, along with the Business Council for International Understanding, of the U.S.-Morocco FTA Coalition, a diverse group of U.S. corporations and associations supporting a bilateral free trade agreement between the two nations.

“We believe an FTA with Morocco is in the strong interest of the United States. It will lead to the elimination of bilateral tariff and non-tariff barriers, boost bilateral and regional trade flows, and stimulate economic growth and prosperity. Importantly, it will lock in and advance major economic reforms in Morocco, restore competitive advantages lost by U.S. exporters as a result of the EU-Morocco Association Agreement, and demonstrate renewed U.S. trade leadership,” said Reinsch.

Tariff elimination under a free trade agreement would give U.S. exporters significant advantages over the EU as well as other competitor suppliers, according to Reinsch. “It will level the playing field and increase market access for U.S. goods and services to Morocco,” he noted.

In addition to the telecommunications and tourism sectors, there are likely opportunities for U.S. firms in the energy, transport, financial services, insurance, and environmental and water resources equipment and services sectors. An FTA would provide opportunities to strengthen intellectual property rights protection and support the development of e-commerce. Commodities that would benefit from an FTA include U.S. wheat, feed grains, soybeans and soybean products.

Furthermore, in “strengthening U.S. ties with a major developing country and close ally committed to trade liberalization and economic reform as fundamental tenets of development, a U.S.-Morocco FTA will demonstrate to other developing countries the strategic importance and benefits of achieving a bold agenda of multilateral trade liberalization in the WTO Doha Round negotiations,” Reinsch added.
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The agreement would be the first bilateral free trade agreement to be negotiated entirely under the new Trade Promotion Authority (TPA) granted to the President for the first time since 1994.

“A well-organized and rapidly concluded negotiation will send a strong signal to the world that the momentum for trade liberalization in the United States has been regained,” Reinsch concluded.