Category: Press Releases and Statements

NFTC Welcomes Vietnam and Malaysia’s Participation in TPP Negotiations

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Washington, DC – The National Foreign Trade Council (NFTC) today welcomed news from the Asia-Pacific Economic Cooperation (APEC) leaders’ summit in Yokohama, Japan, that Vietnam has announced its decision to fully participate in the Trans-Pacific Partnership (TPP) Agreement negotiations. TPP partners also formally welcomed Malaysia to the negotiations, which announced its intent to join the talks on October 5, 2010. The NFTC released the following statement:

“Vietnam’s full participation and the addition of Malaysia will further the advancement of trans-Pacific economic integration and expand U.S. economic engagement in the Asia-Pacific region,” said NFTC President Bill Reinsch. “The TPP Agreement, once fully negotiated and implemented, has the potential to significantly boost the U.S. economy and help achieve the goals of the Administration’s National Export Initiative – increased U.S. exports and American jobs.”

“With so many dynamic economies represented at the negotiating table, the TPP Agreement could become the cornerstone of a new, more robust economic and commercial relationship between the United States and the Asia-Pacific region,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “Malaysia is one of the top 25 largest export markets, for U.S. goods and services, and Vietnam is one of the top 50, so we are very pleased with today’s news coming out of the APEC Leaders Summit.”

About NFTC

Advancing Global Commerce for Over 95 Years – 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 Upcoming Continued Discussions to Resolve Key Issues in KORUS FTA Negotiations

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Washington, DC – The National Foreign Trade Council (NFTC) today thanked U.S. and Korean negotiators for working together to move the KORUS FTA negotiations forward, and welcomed upcoming discussions aimed at achieving resolution on the beef and auto issues. The NFTC released the following statement:

“We greatly appreciate the efforts of the U.S. and Korean governments, specifically Ambassador Kirk and Minister Kim, for working together over the past few weeks to solve the key issues standing in the way of positive action on the FTA,” said NFTC President Bill Reinsch. “It is our hope that a resolution can be reached in the coming weeks that will achieve free, fair and open access to the Korean market for all U.S. sectors, including autos and beef. Reaching resolution on these issues is critical, but we must not lose sight of the fact that the totality of the agreement has the potential to substantially contribute to U.S. economic growth and job creation.”

“Korea is a vitally important economic partner and strategic ally, and the KORUS FTA is the most commercially significant trade agreement in nearly two decades. Given the slow pace of our economic recovery and the president’s goal to double exports and create millions of jobs in the next five years, the KORUS FTA has the potential to be a major stimulus to the U.S. economy. The agreements with Colombia and Panama are also a part of the economic growth equation,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “The continued discussions that will take place over the next few weeks must lead to a path forward on the KORUS FTA. The U.S. simply cannot afford the alternative, as this agreement could create as many as 70,000 new jobs and contribute nearly $12 billion to our GDP.”

 

 

About NFTC
Advancing Global Commerce for Over 95 Years – 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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Global Innovation Forum Detroit Conference Generates New Ideas for Spurring Export Growth and Job Creation Through Innovation Policy

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Washington, DC – Education, immigration and export policies and worries of a severe credit crunch dominated a discussion hosted by the National Foreign Trade Council Foundation’s Global Innovation Forum (GIF) on Tuesday in the Detroit metro area.

The workshop, “Tapping into Global Demand for Innovative Manufacturing,” was aimed at engaging senior business and government leaders, academicians and policy experts in a dialogue about the role of state and federal policies in increasing U.S. exports, promoting innovation and creating high-wage jobs nationwide.

“What we heard in Detroit was a tremendous amount of enthusiasm for greater regional collaboration and a yearning for state and federal policy solutions to increase access to credit, fix our immigration system so that we welcome the best and the brightest, and improve commercial diplomacy abroad,” said Bill Reinsch, President of the National Foreign Trade Council.

The conference featured remarks by Detroit Regional Chamber President & CEO Sandy Baruah, University of Michigan President Mary Sue Coleman, Michigan State AFL-CIO President Mark Gaffney, U.S. Department of Commerce Assistant Secretary for Manufacturing and Services Nicole Lamb-Hale, W Industries President & CEO Ed Walker, Fluxtrol President Robert Ruffini and senior representatives from the Chrysler Group LLC, General Electric and Procter & Gamble.

Education and visa policies were the key focus of a discussion by State leaders about how to help attract investment and entrepreneurs to Michigan. University of Michigan President Mary Sue Coleman noted that championing math and science careers, “has to be a national emergency.” Talking about the importance of entering these fields at the highest levels of government and business would make a huge impact.

A separate conversation on the role of federal policy focused on initiatives by the Obama Administration and Congress to create jobs, including the president’s National Export Initiative (NEI).

“GE strongly supports the National Export Initiative, particularly the emphasis on trade promotion,” said Del Renigar, Senior Counsel for International Policy & Trade, General Electric. “The U.S. isn’t necessarily as active in commercial diplomacy as its counterparts in export-led economies such as Germany, Japan, and France, who devote more resources to this and whose chief deal closers tends to be their president or prime minister. As we saw in India the other week, the U.S. can be very effective when it does this.”

Speakers throughout the day also highlighted the severe impact of a credit squeeze, particularly on small businesses.

The forum was held in partnership with Automation Alley, the Detroit Regional Chamber, NextEnergy and Tech Town for CEOs. Sponsors included the General Electric Foundation and Pfizer.

“Conventional wisdom is that the government does not have a role in fostering innovation,” said Kate Gordon, Vice President for Energy Policy, Center for American Progress. “Sometimes that’s true, but history shows the government has played a major role in areas like solar, microwaves, electric batteries and the Internet. Regulations, financing and infrastructure can help create markets and drive innovation.”

About NFTC and the 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 Boeing, Caterpillar, Chevron, General Electric, Hanes Brands, IBM, Microsoft, Oracle, United Technologies and Wal-Mart.

The Global Innovation Forum is a project of NFTC’s educational arm, the NFTC Foundation. NFTC established the Global Innovation Forum to create a greater understanding of how the innovation ecosystem and public policy can improve the lives of workers, families and communities around the world. Through educational events and workshops, the Global Innovation Forum brings together diverse groups of innovation stakeholders to bridge differences, build consensus and create solutions. Its aim is to arrive at public policy solutions that support entrepreneurism, investment, development, trade, transfer and deployment of innovation and enable solutions to common challenges.

NFTC Joins Other Leading U.S. Business Groups in Urging Congress to Approve GSP Extensions

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Washington, DC – The National Foreign Trade Council (NFTC) today joined with The Coalition for GSP and nearly 100 other companies and business organizations in sending a letter to the leaders of the House Ways and Means Committee and Senate Finance Committee, urging them to support the one-year extension of the Generalized System of Preferences (GSP) before the December 31, 2010 deadline.

The groups wrote:
 

“The GSP program supports American manufacturing by reducing costs of inputs, machinery and equipment. It also helps struggling American families make ends meet by lowering the costs of consumer goods imported duty free under GSP. Congress cannot afford to let this valuable program expire.…

“The GSP program enjoys strong bipartisan support in Congress. Given the continued uncertainty in the U.S. economy and the desire of Congress to pass legislation that benefits American families, workers, and companies, we urge you to make renewal of the GSP program a priority for early action.”

“The NFTC was an early proponent of preference reform this year but in lieu of a comprehensive reform effort, we urge Congress to extend the GSP program as soon as possible before adjourning for the year,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “As Congress returns for the lame duck session, extending the GSP and other trade preference programs should be a bipartisan priority. The GSP is critical, as it provides needed economic incentives in developing countries for poverty alleviation while maintaining cost effective inputs for U.S. manufacturing.”
To read the full text of the letter, please click here
 
 

About NFTC
Advancing Global Commerce for Over 95 Years – 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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Business Community Leaders Find Hints of Momentum Building in Geneva to Conclude Global Trade Talks

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Washington, DC – During a visit to Geneva last week, a U.S. business delegation led by the National Foreign Trade Council (NFTC) found some indications of momentum building to conclude the long-stalled Doha Round of World Trade Organization (WTO) negotiations.

In meetings with key WTO officials and foreign delegations, NFTC and its member companies underscored the U.S. business community’s interest in an ambitious and swift conclusion to the Round.

“Our message was that the U.S. business community remains committed to concluding the Doha Round, but we need a deal that is commercially-meaningful to our companies,” said Scott Miller, Director, Global Trade Policy, Procter & Gamble, and Chair of NFTC’s WTO Project. “We had some encouraging conversations, and now hope that the upcoming meetings of trade ministers and leaders at the G-20 and APEC can act as a catalyst.”

The delegation focused on the importance of expanding market access for key service industries, including information and communications technologies and logistics. They also emphasized the chemical, clean technology and healthcare industries.

“We suggested to negotiators that the cake isn’t baked yet in a couple of key areas, particularly services,” said Sarah Thorn, Senior Director, Federal Government Relations for Wal-Mart Stores. “There is real potential for the U.S. business community to get behind a meaningful agreement in areas such as logistics and information technologies.”

The delegation included representatives from a number of NFTC member companies, including Johnson & Johnson, Procter & Gamble, Tyco International and Wal-Mart Stores. The group was accompanied by NFTC’s Senior Advisor, Ambassador Stuart Harbinson, whose firm, Sidley Austin LLP, represents the association in Geneva.

“For the first time in a long time, we saw some genuine interest in jumpstarting global trade talks,” said NFTC Vice President for Global Trade Issues Jake Colvin, who represented NFTC on the trip. “The challenge now is to turn enthusiasm into real progress in the negotiations.”

About the NFTC

Advancing Global Commerce for Over 95 Years – 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 and USA*Engage Release 111th Congressional Report Card on U.S. International Trade, Sanctions and Tax Issues

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All Members Receive an “Incomplete” for Lack of Action on Trade-Related Policies to Promote Engagement and U.S. Economic Growth

Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today released their 111th Congressional Report Card, scoring Members of Congress based on their votes on key international trade and tax policy issues in 2009 and 2010. Unlike previous years, all members of the 111th Congress received an “incomplete” on the Report Card versus letter grades, due to their collective lack of positive action on trade and tax issues critical to U.S. economic growth and job creation.
“While in some respects this Congress has accomplished a great deal, it has not taken much positive action on the U.S. international trade and tax agenda, and its actions on sanctions have been negative. With just five votes to analyze in the House and even fewer in the Senate – only two – it is difficult to assess Members on their records,” said NFTC President and USA*Engage Co-Chair Bill Reinsch. “At a time when the U.S. is continuing to experience record unemployment, and the economy, though rebounding, is doing so at a slow pace, it is hard to grapple with the reality that this Congress has not successfully passed trade-related legislation that would help to boost U.S. economic growth, increase exports and create jobs.”

The Report Card scored Senators on two votes, including:

  • S. AMDT. 634 – A proposed amendment to H.R. 1105 to prohibit the expenditure of amounts made available under this Act in a contract with any company that has a business presence in Iran’s energy sector.
  • S. 3816 – Creating American Jobs and Ending Offshoring Act (A bill to amend the Internal Revenue Code of 1986 to create American jobs and to prevent the off shoring of such jobs overseas. This legislation was a back door way to end deferral for many companies.)
The highest scorers in the Senate included Sens. Max Baucus (D-MT), Scott Brown (R-MA), Bob Corker (R-TN), Richard Lugar (R-IN), Jon Tester (D-MT) and Mark Warner (D-VA).

With respect to Members of the House, votes on the following pieces of legislation were considered:
 

  • H.R. 1886 – Pakistan Enduring Assistance and Cooperation Enhancement Act of 2009
  • H.R. 2194 – Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010
  • H.R. 4380 – Miscellaneous Tariff Bill (Manufacturing Enhancement Act)
  • H.R. 1586 – FAA Air Transportation Modernization and Safety Improvement Act (This bill increases Medicare funding to states by using international tax provisions.)
  • H.R.2378— Currency Reform for Fair Trade Act
Top scorers included Reps. Ron Paul (R-TX), Ted Poe (R-TX), Tom Price (R-GA), David Reichert (R-WA) and John Shadegg (R-AZ).

“In college, an ‘incomplete’ is typically given to students who have failed to complete required coursework but show promise of being able to complete it within a designated time frame,” said Reinsch. “That is how we view this Congress, as we are deeply disappointed but hopeful that when Congress returns to Washington after the election, it will take meaningful action on the U.S. trade agenda and avoid further growth-damaging tax legislation. The first three items on that agenda should be approval of trade agreements with Colombia, Panama and South Korea, which can’t afford to sit on the backburner any longer if our exporters are to remain competitive in those markets.”

Please click here to read the 111th Congressional Report Card. For more information, visit www.nftc.org and www.usaengage.org. 
If you have problems accessing the hyperlinks above, please paste the following URL in your web browser: 
www.nftc.org/default/USA Engage/NFTC USAE Report Card 111th.pdf 

*NOTE: If you would like additional commentary or an opportunity to speak with Bill Reinsch about the Report Card, please contact Jennifer Cummings at 202-822-9491.
 

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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 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.
 

About NFTC
Advancing Global Commerce for Over 95 Years – 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 Leads Business Delegation to Geneva to Rally Global Trade Talks

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Geneva, Switzerland – A U.S. business delegation led by the National Foreign Trade Council (NFTC) and its member companies today arrived in Geneva to hold meetings with key World Trade Organization (WTO) officials. The visit is aimed at underscoring the U.S. business community’s commitment to an ambitious conclusion to the Doha Round and the importance of the WTO in maintaining an open, rules-based trading system. The NFTC believes that a successful conclusion to the negotiations is critical to generating U.S. and global economic growth and to shoring up the central role of the WTO in the trading system.

“We are here in Geneva to express the U.S. business community’s continued interest in an ambitious, successful, and hopefully rapid conclusion to the Round,” said NFTC Vice President for Global Trade Issues Jake Colvin. “After nine years of negotiations, we are here to encourage an increased level of urgency among negotiators.”

While in Geneva, the group plans to meet with the following individuals, among others:

 

• Arancha González, Chief of Staff to WTO Director-General Pascal Lamy;
• World Intellectual Property Organization (WIPO) Director-General Francis Gurry;
• Ambassador John Gero, Chair of the General Council;
• Ambassador Eduardo Ernesto Sperisen-Yurt, Chair of the Negotiating Group on Trade Facilitation;
• Ambassador Fernando de Mateo, Chair of the Special Session of the Council for Trade in Services;
• Ambassador Luzius Wasescha, Chair of the Negotiating Group on Market Access;
• Ambassador David Walker, Chair of the Special Session of the Committee on Agriculture; and
• Ambassador Manuel A.J. Teehankee, Chair of the Special Session of the Committee on Trade and Environment.
 
“Concluding the Doha Round should be a priority on both the U.S. and global trade agenda,” said NFTC President Bill Reinsch. “With the G-20 Summit in Seoul quickly approaching, the United States has an opportunity to use that occasion to voice strong support for and take a leadership role in advocating a successful conclusion to the negotiations.”

The delegation, which includes representatives from a number of NFTC member companies, including Johnson & Johnson, Procter & Gamble, Tyco International and Wal-Mart Stores, will be in Geneva until Thursday, October 28th. They will be accompanied by NFTC’s Senior Advisor, Ambassador Stuart Harbinson, whose firm, Sidley Austin LLP, represents the group in Geneva.

 

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About the NFTC
Advancing Global Commerce for Over 95 Years – 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 New Trade-Related Regulatory Reforms Enacted by Mexican Government

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Washington, DC – The National Foreign Trade Council (NFTC) today hosted a roundtable with José Luis Paz, Head of the Mexican Embassy’s Trade and NAFTA Office, to discuss 12 measures recently enacted by the Mexican Government to simplify economic and trade-related procedures and regulations. These measures eliminate unnecessary costs of procedures and regulations in the Secretariats of the Economy, Health and Agriculture, and are designed to facilitate access to the latest technology in Mexico.

“We welcome these new measures, as they bring U.S. and Mexican standards closer to harmonization. We applaud Mexico for recognizing the compatibility of U.S. and Mexican standards for the testing and certification of certain products and working to remove what can often be time-consuming and unnecessary procedural requirements for some U.S. exporters,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “By simplifying a number of trade-related procedures, these measures have the potential to significantly increase U.S. exports and strengthen the North American export platform.”

Mexican President Felipe Calderon announced the 12 measures on August 17, 2010.
For more information, please visit www.naftamexico.net/wp-content/uploads/2010/09/sep10.pdf
 

About the NFTC
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 TPP Coalition’s Release of Negotiating Principles for Upcoming Brunei Round

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Washington, DC – In advance of the upcoming round of Trans-Pacific Partnership (TPP) Agreement negotiations in Brunei next week, the National Foreign Trade Council (NFTC) today welcomed the release of negotiating principles by the U.S. Business Coalition for TPP. The NFTC is a member of the coalition and its steering committee.

NFTC Vice President for Regional Trade Issues Chuck Dittrich released the following statement:

“The negotiating principles released today are workable and are aimed at ensuring that the TPP Agreement becomes the gold standard for high-quality plurilateral agreements.

“The Asia-Pacific region represents the largest export market worldwide. The agreement has the potential to become one of the most ambitious and commercially significant trade pacts the United States has been a party to in more than a decade. Once fully negotiated and implemented, it will serve as catalyst for increased trans-Pacific economic integration and help to bolster U.S. economic growth and job creation. The coalition’s principles represent a unified business consensus on the direction of the TPP and provide a clear roadmap for concluding an agreement by the 2011 APEC Ministerial meetings.”

To read the principles, please click here.