Press Releases and Statements Archives - Page 41 of 107

NFTC Celebrates 100 Years, Policymakers Make Case for Trade

Posted on December 4, 2014October 7, 2022 by dcadmin

In Special Video Address, President Obama Commended the Association and Committed to Working with Congress to Pass TPA, Advance Trade Agreements

Washington DC – Last night, the National Foreign Trade Council (NFTC) Foundation celebrated 100 years with its Centennial World Trade Dinner and Award Ceremony at the Andrew W. Mellon Auditorium. Former U.S. Trade Representative Carla Hills, Chair and Chief Executive Officer of Hills and Co., served as master of ceremonies, and guests – ranging from senior U.S. government officials and diplomats to C-level executives of global companies – heard from policymakers on the importance of trade.

President Obama delivered a special video message that was introduced by Valerie Jarrett, Senior Advisor and Assistant to the President for Intergovernmental Affairs and Public Engagement, commending the NFTC’s “100 years of promoting American commerce” and highlighting the benefits of trade.

“Today, more than ever, bolstering international trade is critical to growing America’s economy and advancing American leadership,” said President Obama. “The more we export, the more good jobs we support here at home. Jobs innovating the next big idea. Jobs designing breakthrough technologies. Jobs manufacturing American goods to be sold all around the world.”

President Obama also expressed his commitment to working with Congress “to renew a bipartisan Trade Promotion Authority so we can keep promoting American exports and supporting American jobs.”

Additionally, Senator Orrin Hatch (R-UT) delivered remarks and was presented the 2014 NFTC World Trade Award for his lifetime achievement in opening markets worldwide to U.S. trade and investment. General Electric (GE) Chairman & CEO Jeffrey R. Immelt was honored with the first-ever NFTC Trade Leadership for the Digital Age award, which was accepted on Mr. Immelt’s behalf by GE Vice President Karan Bhatia, a former Deputy U.S. Trade Representative.

Other notable highlights include remarks by Senator Rob Portman (R-OH), Under Secretary of Commerce for International Trade Stefan Selig and NFTC Chairman Alan Wolff.

To celebrate its centennial, the NFTC has convened a yearlong series of programs and activities, such as its This Week in Trade History campaign, to examine the future of trade in the context of key industries, regions and issues.

The NFTC was also honored with three major awards this year. On May 28, the association received the President’s “E Star” Award for Export Service – the highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports. On May 12, the NFTC received the World Trade Week NYC (WTW NYC) 2014 Global Trade Award for its 100 years of significant contributions to the growth of international trade in the New York metropolitan region. On April 2, the NFTC was presented the 2014 Advancing International Trade Award by the National Association of Small Business International Trade Educators International (NASBITE International) – the leading professional society of international trade educators – in honor of its legacy of advancing international trade.

About the NFTC

NFTC is Celebrating our New Century in 2014! Details at www.nftc.org 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. Follow us on:

NFTC’s Jake Colvin Appointed to USTR’s Trade and Environment Policy Advisory Committee

Posted on November 18, 2014 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) welcomed today the appointment of NFTC Vice President for Global Trade Issues Jake Colvin to the U.S. Trade and Environment Policy Advisory Committee (TEPAC). The Committee, managed by the Office of the U.S. Trade Representative’s (USTR) Office of Intergovernmental Affairs and Public Engagement in cooperation with other agencies, provides policy counsel on issues involving trade and the environment.

“I am honored to have been selected as a member of the Trade and Environment Policy Advisory Committee at a time when the United States is advancing one of the most robust trade policy agendas in a generation,” said Colvin. “Trade policies provide an opportunity to improve environmental outcomes and address global climate challenges. I look forward to working with USTR and my fellow Committee members on trade policies that promote the interests of American businesses, workers and consumers.”

In July, Colvin spearheaded the NFTC’s efforts to form the Coalition for Green Trade with the National Association of Manufacturers and the United States Council for International Business. Launched around the start of the World Trade Organization’s (WTO) Environmental Goods Agreement (EGA) negotiations, the Coalition’s purpose is to educate policymakers and the public on the importance of lowering trade barriers to environmental technologies and to advocate for the negotiation of an ambitious EGA.

Colvin leads NFTC’s trade and environmental policy work, and represents the Council before international organizations including the WTO, Asia-Pacific Economic Cooperation forum and UN Framework Convention for Climate Change. He also heads the NFTC’s Global Innovation Forum, which connects business, startup, development and university leaders with public policymakers to understand the opportunities and challenges associated with engaging in the global marketplace in the digital age.

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About the NFTC
NFTC is Celebrating our New Century in 2014! Details at www.nftc.org 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. Follow us on:

NFTC Welcomes U.S.-India Agreement on Trade Facilitation Agreement

Posted on November 13, 2014 by dcadmin

Washington DC – Today, the National Foreign Trade Council (NFTC) welcomed news of an agreement between the United States and India on a path forward for implementing the World Trade Organization (WTO) Trade Facilitation Agreement (TFA).

“Today’s announcement of an agreement between the United States and India signals significant progress toward implementing the WTO Trade Facilitation Agreement,” said NFTC President Bill Reinsch. “We commend Ambassadors Froman and Punke for their leadership in securing this step forward, and for the Administration’s commitment to advancing the rules-based global trading system.”

In July, when the TFA implementation reached an impasse, the NFTC called on WTO members to seek a solution that would enable the agreement to proceed, citing the importance of modernizing trade rules through agreements such as the TFA.

“Today’s announcement is good news, but we’ll wait to celebrate until the political commitment is finalized and economies move to implement the provisions of the agreement,” said NFTC Vice President for Global Trade Issues Jake Colvin. “As the dust settles on this agreement, it’ll be important to take a fresh look at new pathways that will enhance the credibility of the negotiating function at the WTO and avoid a situation where one or a small handful of countries is able to undermine the aspirations of the WTO’s membership at large.”

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NFTC Joins More Than 200 Other Leading Business Groups in Urging Passage of TPA in 2014

Posted on November 12, 2014 by dcadmin

Washington DC – Today, the National Foreign Trade Council (NFTC) joined more than 200 other leading business organizations in sending a letter to House and Senate leadership urging passage of bipartisan Trade Promotion Authority (TPA) legislation this year. The letter is a clear indicator of broad business community support for TPA – an important tool to ensure critical pending trade agreements are completed and achieve the best possible outcomes for American exporters and workers.

The letter was spearheaded by the Trade Benefits America Coalition, of which the NFTC is a steering committee member.

To follow is an excerpt:

“… History has shown that TPA is a critical tool for helping complete ambitious U.S. trade agreements and getting them passed by Congress. With 95 percent of potential customers outside the United States and more than one in five American jobs supported by trade, we need to seize on opportunities – such as ongoing and future U.S. trade agreements – to expand U.S. commerce with other countries.

“Accordingly, we are eager to work with you, your colleagues in the House and Senate, and the Administration to pass bipartisan TPA legislation before the end of the year.”

Click here to read the full letter.

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NFTC Statement on U.S.-Brazil Cotton Dispute Resolution

Posted on October 1, 2014 by dcadmin

Washington DC – The National Foreign Trade Council (NFTC) released the following statement from NFTC Vice President for Regional Trade Initiatives Chuck Dittrich regarding the announcement that the United States and Brazil have settled their longstanding dispute over U.S. cotton subsidies.

“The NFTC welcomes today’s announcement that after many years the United States and Brazil have come to an agreement to resolve the longstanding dispute over U.S. cotton subsidies.

“The NFTC and its members support WTO compliance, and we are encouraged to see that the U.S.-Brazil agreement contains adjustments to the U.S. cotton program to make it more WTO compliant in the long term, rather than just a short-term fix.

“While this issue has been resolved, the NFTC urges the Administration and Congress to work together to ensure all U.S. agricultural polices are in line with the rules-based global trading system, which the United States supports through the WTO.”

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16 Business Organizations Sign Letter Highlighting Trade, Investment and Intellectual Property Issues, Calling for Concrete Action

Posted on September 25, 2014 by dcadmin

Investment in Ireland: A Success Story

Posted on September 23, 2014 by dcadmin

Washington DC.– On September 16, the National Foreign Trade Council (NFTC) gathered business leaders and government officials at an event to discuss the factors that have contributed to Ireland’s growing recovery. At the event, attended by Irish Ambassador to the United States Anne Anderson, participants welcomed Ireland’s continuing commitment to a competitive tax policy that supports business. However, concern was expressed that Ireland’s favorable business environment risks being undermined by erosions of intellectual property (IP) protections, such as the Irish government’s plain packaging proposal.

Leading off the event, Ambassador Anne Anderson noted that the pillars supporting Ireland’s exceptional foreign direct investment performance were the “Four T’s”: 1) Talent, 2) Tax, 3) Track Record and 4) Technology. In defense of Ireland’s corporate tax regime, the Ambassador commented, “We play fair, but we play to win … our 12.5 percent corporate tax rate is not in doubt.”

The Ambassador noted Ireland would carefully watch the ongoing work of the OECD on taxation, but commented that tax policy was Ireland’s “sovereign right.”

Panelist Chris Padilla of IBM noted that while tax was a key factor in making investment decisions, IBM invested in Ireland because “it is across the board a good place to do business.” Padilla also raised concern with the OECD’s BEPS project as “a way of getting countries to raise taxes.”

NFTC President Bill Reinsch moderated a discussion by a distinguished panel of business, academic and government representatives, including Chris Padilla of IBM, Jeff Schott of the Peterson Institute for International Economics, Christine Bliss of the Office of the U.S. Trade Representative (USTR) and Pat Howlin of the Industrial Development Authority (IDA), Ireland’s inward investment agency.

Pat Howlin of IDA commented that when considering investment decisions, multinational businesses seek “stability, certainty and confidence in the medium to long-term future.” Howlin highlighted the importance of balanced regulation: “Regulation is an important part of our efforts to promote business in Ireland, and it should not shackle business development.” When challenged on the plain packaging proposal, Howlin said that this was not his area of expertise but that he was aware of the government’s proposal.

Concerns were raised about Ireland’s protection of IP rights. NFTC President Bill Reinsch noted concerns raised by his members about a fifth “T” – trademarks – and Ireland’s proposed move regarding plain packaging of tobacco products: “The two issues that matter most are tax policy and intellectual property protection. IP protection is critical for attracting investment. It is the crown jewel of the American economy and key to our global competitiveness … As well as positive stories, Ireland also faces challenges … for example, Ireland’s proposal on plain packaging for tobacco products, which sends a negative signal to other industries contemplating investments.”

The panel also discussed the Transatlantic Trade and Investment Partnership (TTIP), a key focus of U.S. and EU economic policymakers. Christine Bliss of USTR noted that U.S. objectives in TTIP can complement Irish policies and highlighted Ireland’s leadership role in the negotiations. Jeff Schott of the Peterson Institute commented that while the TTIP agreement may create significant opportunities for U.S. and EU businesses, companies should not think it will enter into force anytime soon. Schott stated, “Businesses should integrate TTIP into their plans, but evaluate the agreement as a medium-term prospect at best.”

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NFTC Applauds Short-Term Extension of Ex-Im Bank Charter as Positive Step, Calls for Reauthorization

Posted on September 18, 2014 by dcadmin

Washington DC – National Foreign Trade Council (NFTC) President Bill Reinsch today released the following statement on congressional passage of a nine-month extension of the Export-Import Bank (Ex-Im Bank) charter.

“NFTC applauds today’s passage of a short-term extension of the Ex-Im Bank charter, preventing the Bank’s authorization from lapsing at the end of this month, which would have negatively impacted the ability of U.S. exporters to compete in the global marketplace.

“The Bank has and continues to provide crucial support for U.S. exporters, especially small and medium-sized companies, in an increasingly competitive global market.

“While today’s extension is positive news, we urge Congress to act on long-term reauthorization as soon as possible rather than risk expiration again in nine months. Congress can ensure U.S. exporters have the support they need to continue to contribute to U.S. economic growth and job creation by passing a long-term reauthorization bill.”

In support of Ex-Im Bank reauthorization, NFTC joined a group of associations last week in sending a letter to Speaker of the House John Boehner, Senate Majority Leader Harry Reid, House Minority Leader Nancy Pelosi and Senate Minority Leader Mitch McConnell to stress the importance of the issue.

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USA*Engage Opposes S. 2828, “Ukraine Freedom Support Act of 2014”

Posted on September 18, 2014 by dcadmin

Washington DC – USA*Engage Director Richard Sawaya issued the following statement today following the Senate Foreign Relations Committee’s passage of the Ukraine Freedom Support Act of 2014 (S. 2828).

“Russia’s actions in Ukraine are an immediate and pressing problem for the United States and the EU. To date, both the United States and the EU have not supplied Ukraine with military assistance. Instead, they have implemented increasingly draconian economic sanctions, targeting the Russian energy, defense and financial sectors. These sanctions have made little difference in Russian behavior toward Ukraine.

“S. 2828 is an understandable attempt by its proponents to provide U.S. military, financial and other assistance to Ukraine. But S. 2828 would also codify the executive branch sanctions that have been put in place, in effect freezing the status quo.

“Given the Russian response to the U.S. and EU sanctions, and the fact that sanctions have no connection to the provision of military, financial or other assistance that would presumably improve the Ukrainian government’s position vis-a-vis Russia, their inclusion in the legislation is most unfortunate. For this reason, USA*Engage opposes further congressional action on S. 2828 as reported by the Senate Foreign Relations Committee.

“In their present state, the U.S. and EU sanctions have not changed Russia’s behavior in Ukraine. Given Russia’s financial position, as well as its place in the global economy, there is little chance they will in the foreseeable future. On the other hand, the U.S. sanctions are exacting substantial collateral damage to U.S. investments and operations in Russia across sectors. At least, under the status quo, their rapid reversal remains possible should the situation on the ground in Ukraine change. It is difficult to see how their codification in law would facilitate resolution of the conflict between Kiev and Moscow.”

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About USA*Engage

USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policymakers, 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 worldwide.

The Hidden Cost Of Low Prices: Limited Access To New Drugs In India

Posted on September 12, 2014October 7, 2022 by dcadmin

In support of its mission “to inspire, promote, encourage and facilitate international trade and investment in order to enhance economic growth and job creation throughout the world” the National Foreign Trade Council Foundation supports and conducts research and study on the problems and opportunities in international economics and foreign trade and investments. Following is a recent product.

India’s treatment of pharmaceutical patents has been a subject of much attention since its implementation of the WTO’s TRIPS Agreement through amendments in 2005 to India’s Patent Act. Professors Ernst R. Berndt (MIT) and Iain M. Cockburn (Boston Univ.) have recently contributed an article to Health Affairs entitled, “The Hidden Cost of Low Prices: Limited Access to New Drugs in India.”

Abstract: The pricing and accessibility of patent-protected drugs in low- and middle-income countries is a contentious issue in the global context. But questions about price have little meaning if a drug is not available for purchase, and the extent to which patent policy affects when (and if) new drugs become available in these countries has largely been overlooked. We examined data on the sales of 184 drugs approved by the US Food and Drug Administration between 2000 and 2009. We found that 50 percent of those 184 drugs went on sale in India only after lags of more than five years from their first worldwide introduction. More than half of the drugs that became newly available in India during the study period were produced and sold by multiple manufacturers in the country within one year of their introduction. The presence of multiple manufacturers indicates sharp competition and weak patent protection—factors that are disincentives to manufacturers to incur the costs of gaining access to the market. We conclude that modest patent and regulatory reform could bring the faster availability of a wider range of new drugs in India with limited impact on prices—a trade-off that merits greater policy attention.

The NFTC Foundation has secured a link to the full article for our website visitors. In order to view this article, you must access it from the link below:

The Hidden Cost Of Low Prices: Limited Access To New Drugs In India
http://content.healthaffairs.org/cgi/content/full/33/9/1567?ijkey=M0PodbO9SGfZc&keytype=ref&siteid=healthaff