Category: Press Releases and Statements

NFTC, USA*Engage and 15 Other Organizations Urge President to Lift Cuba Academic Travel Restrictions

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Washington, DC – The National Foreign Trade Council (NFTC) and USA*Engage today joined academic, cultural exchange and trade groups in sending a letter to President Obama, urging the Administration to lift restrictions on academic travel to Cuba. The letter sent by NAFSA: Association of International Educators and 16 other organizations recommended that academic travel to Cuba be permitted under general license and similarly, that visas be granted to Cubans coming to the United States for academic and cultural exchange.

“We are approaching the start of another academic year in which American students will find their opportunities to study abroad in Cuba to be severely curtailed because of regulations issued by the Bush administration…. we write in support of the very welcome actions that you have taken to begin to chart a new course in U.S. relations with Cuba, and to urge you, as you continue to develop new policies toward the island nation, to restore academic travel between our countries,” wrote the organizations.

“Exchange programs are often highlighted as a critical component of U.S. engagement in the world and have historically been a successful tool in building relations between nations,” they continued. “Cuba currently remains the only country in the world where the United States government restricts study by American students, as well as academic travel by bona fide teachers and researchers.”

In addition to the NFTC, USA*Engage and NAFSA, the letter was signed by organizations ranging from the American Association of State Colleges and Universities and Community Colleges for International Development, to Orbitz Worldwide, the Latin America Working Group and the Washington Office on Latin America.

“A few months ago, the Administration took an important step toward improving relations with Cuba by allowing Cuban Americans to travel and send remittances to Cuba. There are, however, many steps left to take toward significant U.S. Cuba policy reform, and allowing academic travel is chief among them,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.

“American students who study abroad play a key role in sharing U.S. values and perspectives with the rest of the world. Affording U.S. students the opportunity to engage in cultural exchange with Cuba will complement our diplomatic overtures and help promote dialogue, understanding and respect between the two nations,” said NFTC Vice President for Global Trade Issues Jake Colvin.

For a copy of the letter, please click here.

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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.

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 (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.

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 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.

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.

Associations Urge Senate Leaders to Reject House Climate Bill Provisions That Could Negatively Impact Trade Relations

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Washington, DC – The National Foreign Trade Council (NFTC), along with the Emergency Committee for American Trade, the U.S. Chamber of Commerce and the U.S. Council for International Business, today wrote Senate leaders, urging them to refrain from including in their bill certain trade and competitiveness provisions included in the House-passed American Clean Energy and Security Act of 2009.

In a letter to Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell, the four groups wrote:

“We urge the Senate to refrain from including provisions that could negatively impact U.S. relations with key trading partners and disrupt the global trading system. We believe any successful legislation that aims to restrain greenhouse gas emissions must abide by U.S. international trade obligations and should encourage action by other major emitting countries.

“We are concerned that some provisions contained in H.R. 2454, such as those creating the international reserve allowance program and permitting tariffs or “border measures” on carbon-intensive imports, are highly inflexible, and likely to conflict with obligations the United States has undertaken in international trade agreements. In fact, these provisions are already stirring consternation among some of our key trading partners and could trigger a ‘green trade war.’

“Climate change is a global problem that calls for international cooperation, not unilateral ultimatums…. In the midst of a global recession, we agree wholeheartedly with President Obama that “we have to be careful about sending any protectionist signals” in the context of this important legislation.”

To read the full text of the letter, click here.

NFTC President Bill Reinsch and NFTC Vice President for Global Trade Issues Jake Colvin are available for comment. Please contact Jennifer Cummings (jcummings@fratelli.com) at 202-822-9491.

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About the NFTC

Advancing Global Commerce for 95 Years – The National Foreign Trade Council 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.

Visit us at www.nftc.org and on Facebook.

NFTC Expresses Concern Over Shift in India’s Approach to Taxation of Cross-Border Investment

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Washington, DC – The National Foreign Trade Council (NFTC) today expressed concern over arguments being made by Indian revenue authorities that the country is entitled to tax certain capital gains on global mergers and acquisitions taking place outside of the country. In a letter sent by NFTC President Bill Reinsch to Indian Minister of Finance Pranab Mukherjee, the NFTC expressed deep concern over such assertions.

“U.S.-based multinational companies in particular have a history of robust investment in India, where our investors have created significant jobs and wealth. We are writing to express our concern about a recent shift in the approach of Indian revenue authorities towards the taxation of cross-border investment that seems at odds with the efforts of the Government of India to liberalize India’s foreign investment policies,” wrote Reinsch.

Over the past two years, the NFTC and many of its members have noticed that Indian revenue authorities have begun to argue that India is entitled to tax certain capital gains on global mergers and acquisitions taking place outside of the country, particularly in the case of a transfer of shares in a non-Indian company between two non-Indian residents.

In addition, the NFTC letter pointed out, “it seems that the revenue authorities are trying to apply this to already completed transactions (e.g., in the Vodafone – Hutchison matter). Thus, the revenue authorities are seeking to recover the tax from non-resident buyers who, they assert, were required to withhold the tax from the consideration paid to sellers — even if the buyers and sellers have no connection with India. The revenue authorities have sought to support this position with retrospective tax legislation enacted in 2008.”

The letter also noted that Indian tax laws have not been amended in relation to these very commonplace transactions, suggesting, “the new approach is based on a novel interpretation of existing provisions.” Reinsch wrote, “The new approach is novel not only in relation to long-standing Indian interpretation but also compared to generally accepted norms of international taxation. Very few countries seek to tax transfers of shares in foreign companies merely because the companies have underlying assets in country. Such measures are widely regarded as inappropriate due to their extraterritorial scope.”

The NFTC also expressed concern that the new approach taken by the Indian revenue authorities to tax cross-border transactions is undermining the Government’s efforts to liberalize its investment policies and could discourage future foreign investment.

“NFTC Members urge the Government of India to move swiftly to undertake a policy review of whether taxation of the transactions in question is appropriate. If, following such review, the Government of India remains convinced that these transactions should be taxable in India, our Members believe that the necessary changes should be made to the laws with prospective effect only, rather than through retrospective changes in interpretation of current law or application of withholding tax provisions,” Reinsch concluded.

About the NFTC

Advancing Global Commerce for 95 Years – The National Foreign Trade Council 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.

NFTC Statement on Ambassador Kirk’s Speech in Pittsburgh

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Washington, DC – National Foreign Trade Council (NFTC) President Bill Reinsch released the following comment in response to Ambassador Kirk’s speech today in Pittsburgh on U.S. trade enforcement priorities:

“Stronger enforcement is a good thing, and Ambassador Kirk has zeroed in on several of the important areas where there is a lot of work to be done. At the same time, a comprehensive trade policy needs more than one leg. We also need to be actively promoting American products and pursuing trade agreements, both multilateral and bilateral, that will expand trade and thereby help our economy grow and create new jobs. We look forward to hearing about the other legs of the Administration’s trade policy soon.

“In particular, we encourage the Administration to redouble efforts to conclude a global trade deal and enact outstanding bilateral trade agreements, as well as to pursue innovative strategies that would unlock new markets for U.S. businesses and workers. For example, the United States should take a leadership role in promoting trade in green technologies and introducing new ideas into the global trading system like a next-generation information technology agreement.”

About the NFTC

Advancing Global Commerce for 95 Years – The National Foreign Trade Council 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.

NFTC Applauds Cuba Provisions in FY2010 Appropriations Bills

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Washington, DC – The National Foreign Trade Council (NFTC) today applauded members of the House and Senate Appropriations Committees for including provisions in the FY2010 financial services spending bills that would help to normalize U.S.-Cuba agricultural trade. NFTC Vice President for Global Trade Issues Jake Colvin released the following statement:

“The language included in the spending bills would represent a small but important shift in U.S.-Cuba policy that would benefit U.S. farmers, businesses and workers. By allowing U.S. farmers and other exporters to accept payment at the time of delivery, appropriators seek to remove an unnecessary barrier and open the door to increased exports to Cuba. We strongly encourage both chambers to include the provisions in the final version of the legislation.”


About the NFTC

Advancing Global Commerce for 95 Years – The National Foreign Trade Council 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.

Trade and Industry Leaders Urge President Obama to Reform Outdated U.S. Export Control System

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New Policies Needed to Maintain U.S. Competitiveness and Strengthen National Security
Washington, DC – The National Foreign Trade Council (NFTC) and the Coalition for Employment Through Exports (CEE) today, on behalf of the Coalition for Security and Competitiveness (CSC), wrote President Obama urging the Administration to lead an initiative to fundamentally reform the outdated U.S. export control system. The CSC was initially formed in 2007 by eight leading trade and industry organizations to provide recommendations for enhancing both security and competitiveness through modernization of U.S. export controls.

“Our increasingly out-of-date export controls on American-origin dual-use and defense technologies are adversely affecting our country’s leadership and competitiveness in several fields, as a committee of the National Research Council recently concluded. There is mounting evidence of a resulting impact on national defense, according to several Defense Department reports,” wrote the associations.

“We believe that action by your Administration is urgently needed to adopt new policies to govern U.S. export controls and new administrative regulations and procedures to streamline export licensing and compliance requirements,” the letter continued. Highlighting the importance of presidential leadership and a sustained effort by senior government officials, the associations noted that only high-level direction will lead to “meaningful and lasting improvements.”

“The United States needs a 21st century export control system and administrative procedures that carefully balance our national security and ability to maintain U.S. competitiveness in the global economy,” said NFTC President Bill Reinsch, a former Under Secretary of Commerce for Export Administration in the Clinton Administration. “That balance can be achieved, but we first have to take the appropriate steps toward substantive reform.”

In addition to the NFTC and CEE, CSC members include the Aerospace Industries Association, the Association of American Exporters and Importers, the AMT – Association for Manufacturing Technology, Business Roundtable, the General Aviation Manufacturers Association, the Industrial Fastener Institute, the National Association of Manufacturers, the National Defense Industrial Association, the Satellite Industry Association, The Space Foundation, TechAmerica and the U.S. Chamber of Commerce.

To read the full text of the letter, click here.
 

About the NFTC

Advancing Global Commerce for 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.

NFTC Launches Facebook Page

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Washington, DC – The National Foreign Trade Council (NFTC) has made its Facebook debut. NFTC’s new Facebook page will be updated regularly to include all press releases, relevant news articles, upcoming events and important announcements. Additionally, it may be used in the future as a forum for discussions about trade- and tax-related issues and current events. Its purpose, therefore, is twofold: to provide up-to-date information from the NFTC and to facilitate discussion and promote dialogue about the NFTC’s most pertinent issues.

We invite you to be part of our Facebook community.

It’s easy! Follow the three steps below to become a “fan” of the NFTC’s Faceook page:

(1) Go to the Facebook Web site – http://www.facebook.com
(2) Go to the Search tab in the top right-hand corner and type in “National Foreign Trade Council.”
(3) A thumbprint of NFTC’s page will appear on the screen. Click “Become a fan” to the right of the NFTC logo.

Once you’ve done that, NFTC’s page will be automatically linked to your personal Facebook profile, so you can check it as often as you’d like. To post something in response to a news update or press release, simply write on the NFTC Facebook wall and click “Share” once you’re finished.

Click here for a direct link to NFTC’s page:
 http://www.facebook.com/pages/Washington-DC/National-Foreign-Trade-Council/105955409792#/pages/Washington-DC/National-Foreign-Trade-Council/105955409792?ref=ts  

Not on Facebook? Joining is easy. Simply go to Facebook.com, enter your current e-mail address and create a basic profile. It’s a great way to network with other people; communicate with your friends, family and colleagues; and follow the people and organizations that interest you.

We hope to see you on Facebook soon!

About the NFTC

Advancing Global Commerce for 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.

NFTC Applauds Administration’s Review of Country Eligibility for Andean Trade Preferences

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Welcomes Acknowledgement of Challenging Investment Climate in Ecuador and Bolivia

Washington, DC – National Foreign Trade Council (NFTC) President Bill Reinsch today released the following statement welcoming the Administration’s report on country eligibility for trade preferences under the Andean Trade Preference Act (ATPA).

“We commend the Administration for acknowledging the difficulties American investors face in Ecuador in its decision to extend trade preferences under ATPA. Recent experience has shown that American companies face significant challenges there in terms of rule of law and political interference in the judicial process, and we expect the Administration to continue to monitor developments there carefully. ATPA is an important tool to promote economic development and growth within the hemisphere, but to ensure that the system remains fair and mutually beneficial, our trading partners must demonstrate a commitment to abiding by the rules and refrain from interfering in judicial processes.”

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About the NFTC
Advancing Global Commerce for 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.
 

NFTC Statement on Visit of Colombian President Uribe

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Washington, DC – In response to the meeting held this afternoon between President Obama and Colombian President Alvaro Uribe at the White House, National Foreign Council (NFTC) President Bill Reinsch released the following statement.

“Today’s meeting between the two presidents is an important step forward in advancing the dialogue on the future of U.S.-Colombia relations, including the trade agreement.

“In a region that faces a growing threat of political and social instability, Colombia remains one of the United States’ strongest democratic allies.

“Colombia is working hand-in-hand with the United States in the war against drugs, and broader than that, to dismantle the terrorist groups who benefit from the drug trade and whose illegal actions contribute to the violence that plagues the region.

“President Uribe should be commended for the progress his administration has made on this front. During his presidency, he has helped Colombia to turn the page on its past, strengthen the rule of law and democratic institutions, and provide economic opportunity and social advancement to the Colombian people.

“The United States and Colombia must continue to work together to strengthen our strategic and economic ties to ensure that those advances are sustained. Expanding trade relations is central to progress on other elements of the U.S.-Colombia bilateral agenda.

“We call on the Administration to work with the Colombian Government to agree on clear and measurable benchmarks to demonstrate the necessary progress on outstanding issues to bring the trade agreement before the U.S. Congress by a date certain.”

About the NFTC

Advancing Global Commerce for 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.
 

USLBA Board of Directors Transitions Management of Association to NFTC

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Washington DC The U.S.-Libya Business Association (USLBA) Board of Directors announced that it has transitioned management of the association to the National Foreign Trade Council (NFTC), effective immediately. The USLBA is currently managed by David Goldwyn, President of Goldwyn International Strategies, LLC, a leading international energy consulting firm. Goldwyn is departing the association to embark on a new opportunity, which will be announced shortly. The USLBA also announced its new incoming corporate Chairman Ian Davis, Vice President of Government Relations for Occidental Petroleum, and its new Executive Director NFTC Vice President for Regional Trade Initiatives Chuck Dittrich.

“We thank David for his many years of dedicated service on behalf of the U.S.-Libya Business Association. He has provided invaluable strategic counsel, analysis and leadership to the association during his tenure, and we wish him all the best in his next assignment,” said outgoing USLBA Chairman Kay Larcom, Director of Federal Affairs for ConocoPhillips.

The association will remain a separate entity but will be co-located with the NFTC. Incoming Executive Director Chuck Dittrich has a background in Middle East affairs and has managed the NFTC’s U.S.-Middle East Free Trade Coalition since its inception. Ditrrich has also led the Council’s advocacy and outreach efforts to press for passage and implementation of free trade agreements with Bahrain, Morocco and Oman. Dittrich will also retain his position at the NFTC as Vice President for Regional Trade Initiatives.

“The NFTC is one of the most highly regarded trade associations in Washington, and their team is deeply steeped in U.S.-Middle East policy issues,” said Davis. “We have worked alongside the Council on a number of U.S-Libya related matters, specifically, and we look forward to working with the organization in this new capacity.”

The USLBA was organized to enhance commercial relations between the United States and Libya, educate the public about their importance, and facilitate the commercial and diplomatic dialogue between the two countries. The association is a non-profit, member-based organization that sponsors regular policy conferences, briefing sessions and major events featuring senior U.S. and Libyan officials. Ambassador David Mack serves as the association’s honorary chairman.

For more information, visit www.us-lba.org or www.nftc.org
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About the USLBA

The US-Libya Business Association is the only bilateral US association focusing on the United States and Libya. It was organized to enhance the US-Libya relationship, educate the public about its importance, and facilitate the commercial and diplomatic dialogue between the two countries. The USLBA is a non-profit, member-based organization that sponsors regular policy conferences, briefing sessions and major events featuring senior US and Libyan officials.

About the NFTC

Advancing Global Commerce for 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.