Category: Press Releases and Statements

NFTC Releases Cheat Sheet to the WTO Trade Facilitation Agreement

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Washington DC – Today, the National Foreign Trade Council (NFTC) released a cheat sheet on the World Trade Organization (WTO) Trade Facilitation Agreement reached in Bali, Indonesia, on December 7, 2013. The guide outlines the agreement’s scope, implementation, potential impact, business community support and history.

Click here to read the cheat sheet.

Click here to read the NFTC’s statement on the outcome of the WTO’s Ninth Ministerial Conference.


About the NFTC
Advancing Global Commerce for A Century- 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.

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NFTC Statement on Singapore Round of TPP Negotiations

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Washington DC – The National Foreign Trade Council (NFTC) today released the following comments on the statement released by the Ministers and Heads of Delegation for the Trans-Pacific Partnership (TPP) countries.
 
 
“With the conclusion of negotiations in sight, the NFTC calls on negotiators from the 12 countries of the Trans-Pacific Partnership to redouble their efforts to conclude a comprehensive high-standard agreement. This agreement – a historic undertaking – has the potential to stimulate jobs and economic progress in a vast free trade area comprising of almost half a billion people and close to 15 percent of global trade.
 
 
“At this critical juncture, NFTC and its members ask all parties to demonstrate leadership in opening markets, refrain from taking defensive positions and to increase ambition rather than seek to limit the scope of commitment.
 
 
“We commend Ambassador Froman and the U.S. negotiators for their tireless efforts in advancing this ambitious agreement and for recognizing its importance to the U.S. economy and American businesses and workers.”
 


About the NFTC
Advancing Global Commerce for A Century- 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.

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NFTC Welcomes Introduction of Digital Trade Act of 2013

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Washington, DC – Bill Reinsch, President of the National Foreign Trade Council (NFTC), issued the following statement in response to the introduction of the Digital Trade Act of 2013 by Senators John Thune (R-SD) and Ron Wyden (D-OR):

“NFTC applauds Senators Thune and Wyden for their leadership in emphasizing the importance of global access to Internet-enabled services and digital information. The kinds of provisions detailed in this bill would serve as an important complement to the recently concluded WTO trade facilitation agreement, giving a boost to the ability of entrepreneurs and businesses of all sizes and across industries to participate in the global marketplace.

“Global flows of information and Internet-powered services promote more inclusive growth around the world, increasingly enabling anyone with an Internet connection to tap into trade; yet barriers are beginning to surface that would inhibit this gateway to the global economy. It is important to examine how best to address emerging cases of digital protectionism as this bill seeks to do.

“It is also important to recognize that the kinds of provisions contemplated in this legislation would build upon a series of international obligations relevant to the digital economy to which countries are already bound.

“We look forward to working with the Senate Finance Committee and others to advance these provisions in appropriate bilateral, plurilateral and multilateral forums – noting that not all of these provisions will be pursued through traditional trade channels. We also look forward to emphasizing the importance of a number of these principles – most urgently, preventing barriers to the movement of electronic information across borders and prohibiting measures that condition market access or other commercial benefits on localization of data, infrastructure, or investment – in legislation to grant the President Trade Promotion Authority.”

NFTC included suggestions for provisions on the global digital economy in its draft “Trade Negotiating Authority” legislation, which the Council released earlier this year and joined other business associations and companies in supporting a similarly-aligned set of “principles to promote cross-border data flows” in 2011.


About the NFTC
Advancing Global Commerce for A Century- 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.

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NFTC Statement on Bali Ministerial Outcome

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Washington, D.C. –From Bali, NFTC Vice President for Global Trade Issues Jake Colvin released the following statement in response to the agreement that was reached at the World Trade Organization’s (WTO) Ninth Ministerial Conference:

“This deal is good news for the global trading system.

“The Bali package is significant, particularly given the promise of trade facilitation to improve access to the global marketplace for small businesses, create jobs, and spur more inclusive growth in the United States and around the world.

“It is also a welcome signal, after more than a decade of frustration, that the WTO can serve as a negotiating forum among its broad membership.

“Yet Bali also illustrated the challenges of negotiating an agreement that requires sign off from the WTO’s diverse membership, and the dynamics that made a deal so elusive in the run-up to Bali won’t change dramatically in its wake.
 
“To build on the success of Bali, it will be critical to find creative ways of modernizing trade rules under or near the WTO umbrella to address a very different world than the one that existed the last time a comprehensive work program was laid out more than a decade ago.

“Companies are multilateralists at heart, and hope the WTO can continue to deliver.

“A variety of delegations deserve credit for the outcome, and for emphasizing that this deal enjoyed strong and deep support from developed and developing countries. NFTC would especially like to congratulate U.S. Trade Representative Michael Froman, Deputy U.S. Trade Representative Michael Punke and their colleagues for their tireless and innovative efforts to support the global trading system.”


About the NFTC
Advancing Global Commerce for A Century- 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.

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USA*Engage and NFTC Statement on Interim Agreement with Iran

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Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage released the following statement on the interim agreement negotiated between the P5+1 and the Islamic Republic of Iran.

“USA*Engage and the NFTC support the interim agreement negotiated between the P5+1 and the Islamic Republic of Iran in Geneva. As the text makes clear, it is essentially an agreement to negotiate under the discipline that nothing is decided until everything is decided. As the interim agreement also specifies, the veritable financial blockade of Iran’s economy remains structurally intact,” said Bill Reinsch, President of the NFTC. “We urge Members of Congress to permit the Administration the means to pursue a comprehensive solution with Iran.”

“USA*Engage notes the targeted, contingent nature of sanctions relief contained in the interim agreement. In particular, we welcome the explicit commitment to establish a financial channel for fully lawful humanitarian trade in food, agricultural products, medicine and medical devices, as well as medical expenses incurred abroad. We trust the U.S. Treasury will implement this measure unambiguously and with dispatch. We note that all Congressionally legislated sanctions have included exceptions for such trade as settled U.S. policy,” said Richard Sawaya, Director of USA*Engage.
 

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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 world wide.
 
About the NFTC
Advancing Global Commerce for A Century- 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.
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NFTC Statement on Chairman Baucus’ International Tax Reform Proposals

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Washington, D.C. – In response to Senate Finance Committee Chairman Max Baucus’ international tax reform staff discussion draft, National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz released the following statement:

“To maximize the global competitiveness of American companies and to attract increased inbound investment, the U.S. international tax system must be reformed. The NFTC welcomes the opportunity to continue the discussion on how best to advance pro-growth, pro-jobs reform. Unfortunately, the discussion draft released by Chairman Baucus appears to move us in the opposite direction by proposing to penalize multinational companies and making it more difficult for them to compete globally.

“We are disappointed in the draft and look forward to a robust discussion with the Senate Finance Committee as the tax reform process continues.”

The NFTC has long advocated reforming U.S. international and corporate tax policies, and is a leading member of the business community’s Promote America’s Competitive Edge (PACE) Coalition.

 
 
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About the NFTC
Advancing Global Commerce for Nearly A Century- 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.
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New Congressional TPP Caucus ‘Comes At Just the Right Time,’ Says Reinsch

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Washington DC – The National Foreign Trade Council (NFTC) today applauded the launch of the bipartisan Friends of the Trans-Pacific Partnership Caucus and commended Reps. Charles Boustany (R-LA), Ron Kind (D-WI), Gregory Meeks (D-NY) and Dave Reichert (R-WA) for their leadership on the Caucus.

NFTC President Bill Reinsch released the following statement:

“With the TPP negotiators working diligently to conclude the talks in the near term, the launch of the Friends of the Trans-Pacific Partnership Caucus comes at just the right time. This agreement has the potential to be a historic, landmark agreement for the United States and our trading partners in the Asia-Pacific region. By significantly increasing U.S. economic engagement with the 11 other countries and expanding market access for U.S. businesses and workers, the agreement will promote growth and support job creation. We need Congressional champions on the Hill to help advance this ambitious agreement, and we commend Reps. Boustany, Kind, Meeks and Reichert for their leadership and recognizing the importance of TPP to the U.S. economy.”

About the NFTC
Advancing Global Commerce for Nearly A Century- 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.

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NFTC Foundation’s Global Innovation Forum Concludes Discussion Series on Immigration Reform at the University of Colorado Boulder

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Washington DC – Today, the National Foreign Trade Council (NFTC) Foundation’s Global Innovation Forum concluded its discussion series on immigration, themed “Goodbye Global Innovators?,” with roundtable discussions at the University of Colorado Boulder exploring policy issues surrounding the ability of the United States to attract and retain top global talent. The event featured two panel discussions – “The Impact of U.S. Visa and Immigration Policies on American Businesses and Entrepreneurs” and “The Impact of Visa and Immigration Policies on Innovation, Research and Life in University Communities” – and a luncheon.

“We’ve heard from a variety of entrepreneurs, students and business and academic leaders across the country on how U.S. policies on immigration affect U.S. competitiveness and innovation,” said NFTC Vice President for Global Trade Issues Jake Colvin. “We’ve consistently heard the desire to improve the paths by which entrepreneurs, workers, researchers, students and their families can contribute to the U.S. economy.”

Business and university leaders, students and entrepreneurs from the region participated in today’s event. In addition to Jake Colvin, speakers included:

  • Waleed Abdalati, Director, Cooperative Institute for Research in Environmental Sciences
  • Larry Bell, Executive Director, International Education, Global CU
  • Philip P. DiStefano, Chancellor, University of Colorado Boulder
  • Mark Hallett, Senior Director, International Student & Scholar Services, International Student Program Development, Office of International Programs, Colorado State University
  • Alina M. Handorean, Ph.D, Post-Doctoral Student and Research Faculty, Hernández Environmental Engineering Labs, Civil, Environmental and Architectural Engineering Department, University of Colorado Boulder
  • Brad Hendrick, Member, Caplan and Earnest
  • Ray Hutchins, Chief Information Officer, iDesDa
  • Hanna Siegel, Strategy & Communications, Partnership for a New American Economy
  • Joanne White, Ph.D student, ATLAS, RA Project EPIC Colorado, University of Colorado Boulder
The NFTC Foundation’s Global Innovation Forum’s discussion series on immigration and American competitiveness launched at Duke University in March with the purpose of convening students, faculty, entrepreneurs and business voices to elicit stories on how current policies affect the business and education communities to better inform the debate surrounding high-skilled immigration and global mobility policies in Washington. Other events have been held at the University of Texas at Austin and the University of California, Davis.

The series is part of a national innovation initiative made possible by the GE Foundation. Today’s event was held in partnership with Boulder Chamber, Boulder Economic Council, Denver Metro Chamber of Commerce, Denver South Economic Development Partnership, Partnership for a New American Economy, South Metro Denver Chamber of Commerce and the University of Colorado Boulder.

 

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About theThe Global Innovation Forum:
The National Foreign Trade Council was founded in 1914 and is the oldest and largest trade association devoted entirely to advocating an open, rules-based international trade system. NFTC promotes open markets and U.S. engagement in the world on behalf of its member companies, which include Abbvie, Caterpillar, eBay, General Electric, Hanes Brands, IBM, Microsoft, Procter & Gamble and Wal-Mart. The Global Innovation Forum is a project of NFTC’s educational arm, the NFTC Foundation, which brings together diverse groups of stakeholders to create a better understanding of how the innovation ecosystem and public policy can improve the lives of workers, families and communities
 
 

About the NFTC
Advancing Global Commerce for Nearly A Century- 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.
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NFTC Foundation’s Global Innovation Forum Holds Discussions on Immigration and Visa Policies at UC Davis

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Washington DC – The National Foreign Trade Council (NFTC) Foundation’s Global Innovation Forum held a pair of talks at the University of California, Davis (UC Davis) on how current immigration policies affect the ability of the United States to attract and retain top talent, particularly students, entrepreneurs, researchers and high-skilled workers. The discussion, “The Impact of U.S. Immigration and Visa Policies on U.S. Competitiveness,” part of a yearlong series of forums held in partnership with major universities around the country on immigration under the theme of “Goodbye Global Innovators?,” kicked off at a dinner last night and was followed by a lunch conversation today.
 
 
These discussions were held as part of a broader immigration conference, titled “Immigration Reform: What’s Next?,” presented by the Immigration Law Association at UC Davis and supported by the NFTC.
 
 
“This was a unique opportunity to hear from students, faculty, and the broader UC-Davis community on how current policies impact American innovation, competitiveness and the overall economy,” said NFTC Vice President for Global Trade Issues Jake Colvin.
 
 
Business and university leaders, students and entrepreneurs from the region participated in the roundtable discussions. In addition to Jake Colvin, last night’s discussion was also led by Hanna Siegel, The Partnership for a New American Economy, and Anupam Chander, UC Davis School of Law. Other notable guests included:
  • Jack Chin, UC Davis School of Law
  • Rose Cuison Villazor, UC Davis School of Law
  • Tulin Gurer, Journal of International Law & Policy
  • Amandeep Kaur, Chancellor’s Graduate & Professional Student Advisory Board
  • Aarti Kohli, National Immigration Law Center
  • Jake LeRaul, Immigration Law Association
  • Philip Martin, UC Comparative Immigration & Integration Program
  • Christine Meeuwsen, Immigration Law Association
Today’s discussion featured Vivek Wadhwa, author of “The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent,” in addition to Jake Colvin, Hanna Siegel and Amandeep Kaur.
 
 
The NFTC Foundation’s Global Innovation Forum discussion series on immigration and American competitiveness is part of a national innovation initiative made possible by the GE Foundation. The series launched in March at Duke University, and will conclude on Wednesday, October 16, at the University of Colorado Boulder.
 
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About theThe Global Innovation Forum:
The National Foreign Trade Council was founded in 1914 and is the oldest and largest trade association devoted entirely to advocating an open, rules-based international trade system. NFTC promotes open markets and U.S. engagement in the world on behalf of its member companies, which include Abbvie, Caterpillar, eBay, General Electric, Hanes Brands, IBM, Microsoft, Procter & Gamble and Wal-Mart. The Global Innovation Forum is a project of NFTC’s educational arm, the NFTC Foundation, which brings together diverse groups of stakeholders to create a better understanding of how the innovation ecosystem and public policy can improve the lives of workers, families and communities
 
 
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About the NFTC
Advancing Global Commerce for Nearly A Century- 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.
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