Category: Press Releases and Statements

NFTC Expresses Strong Disappointment with NAMA 11 Paper

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Calls for Real Leadership in the Doha Round by Advanced Developing Countries

Washington, D.C. – The National Foreign Trade Council (NFTC) today released the following statement, expressing strong disappointment with the NAMA 11 paper and calling on advanced developing countries to exhibit leadership in the Doha Round of World Trade Organization (WTO) negotiations.

“The NFTC is very disappointed that several developing countries tabled yesterday a paper that focuses more on what advanced developing countries can’t do on industrial goods market opening in the Doha Round, instead of what they can do,” said NFTC President Bill Reinsch. “With major positive signs of progress in the Doha negotiations over the past several weeks, including a clear commitment by the United States to work with the suggested range of domestic support cuts in the

Chairman’s text on agricultural, this paper goes in the opposite direction.”

“Now is the time to work towards a meaningful consensus in the Doha negotiations based on the recent texts tabled by the Chairs of the Agriculture and NAMA negotiating groups, and also by achieving similar progress on services,” said Mary Irace, NFTC Vice President for Trade and Export Finance. “Absent political will on all sides to liberalize trade, the negotiations will not conclude successfully. Calling for yet more flexibility and exceptions for major trading countries at this stage is unhelpful.”

“The Chairman’s text on NAMA has plenty of flexibility built in for developing countries and more than amply provides for less-than-full reciprocity. It is worth noting in this regard that the least developed countries are exempt from any commitments,” stated Irace.

“At the end of the day, if we can’t achieve a consensus on the tariff cutting modalities provided in the text, it’s hard to see how these negotiations are going to conclude. Frankly, even under the most ambitious coefficient in the text for advanced developing countries, many applied tariff rates would be left untouched in those countries. The U.S. business community had, in fact, urged for much more ambition than what is in the Chairman’s text.”

Irace concluded, “Time is running short. It would be a serious failure in political leadership if WTO members were unable to seize the very real opportunity before us to conclude the Doha Round in a balanced and ambitious manner. The outlines of a solid agreement are there, much work has been accomplished, and now is the time to stand up and be counted by getting the job done. It is a goal worth fighting for because a successful conclusion will generate economic growth and development worldwide and strengthen the foundation of the global trading system.”

 

 

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Advancing Global Commerce for Over 90 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.

 

House Majority Leader Hoyer Outlines “New Deal” on Trade

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Secretary Gutierrez, USTR Schwab Press for Bipartisan Approval of
Pending Agreements

Washington, DC – The National Foreign Trade Council (NFTC) last night hosted its 93rd Annual World Trade Dinner and Award Ceremony at the Corcoran Gallery of Art in Washington, D.C., where U.S. House Majority Leader Steny Hoyer (D-MD) delivered the keynote address and discussed trade and the importance of international engagement and multilateral institutions on a range of issues.  Hoyer pledged Democratic support for approval of the pending U.S.-Peru Trade Promotion Agreement (PTPA), citing it as an example of a bipartisan “New Deal” on trade, which will address workers’ rights, the environment and the safeguarding of American jobs in future trade agreements.

U.S. Secretary of Commerce Carlos Gutierrez and U.S. Trade Representative Susan Schwab also urged Members of Congress to approve pending trade agreements with Peru, Panama, Colombia and South Korea.

“When the Democrats regained majorities in the House and Senate in January, we were presented with an opportunity to advance trade agreements that enforced worker rights and environmental standards,” said Rep. Hoyer, who represents Maryland’s Fifth Congressional District and is currently serving his 14th term. “In our opinion, this agreement [May 10 bipartisan agreement on trade] strengthens core values and outlines the path forward for bipartisan trade agreements. We want to work these [agreements] in a bipartisan fashion. We think that is good for our country and we think it is good for the rest of the world.”

Hoyer noted that the House would soon vote on the U.S.-Peru Trade Promotion Agreement, and predicted bipartisan support.

“Free and fair trade not only can foster an international economic system based on the rule of law, but also a movement toward democratic reform, market economics and respect for basic human rights – and as a result a more stable, secure political environment,” said Hoyer. “But certainly one of the greater economic challenges of our time is managing the benefits of trade while addressing the very real, adverse consequences that trade and globalization have had on many of our constituents and communities.”

Ambassador Schwab applauded Rep. Hoyer’s commitment to pursuing a bipartisan consensus on the U.S. trade agenda during her introduction of him. Schwab also reinforced the need for Congress to come together in a bipartisan manner to act as soon as possible on the four pending trade agreements. “This is the beginning of an important journey for all of us. Free trade agreements are never easy…And no matter who controls Congress or the White House, we will need a trade policy that sustains American competitiveness in the global marketplace…The trade policy negotiated during this Congress transcends party and president and politics.”

Commerce Secretary Gutierrez stated that “Congressional approval of the four pending free trade agreements, with Peru, with Colombia, Panama, South Korea will further open up markets of 126 million people with a combined GDP of $1.1 trillion.”

“More than 80 percent of the imports that come in today from Peru, Colombia and Panama enter the United States duty-free. Congress has already given their farmers, ranchers and workers preferential access to our market. The question we have is why can we not do the same for our farmers, our ranchers and our workers,” Gutierrez continued.

“We applaud the leadership of Congressman Hoyer, Ambassador Schwab and Secretary Gutierrez for reaching across the aisle to make positive steps forward on trade and global engagement,” said NFTC President Bill Reinsch. “A bipartisan way forward is the only way forward and the NFTC commends their commitment to this ideal.”

The NFTC dinner was attended by members of Congress, the Administration, and the business community. In addition, ambassadors and embassy officials from numerous countries also attended, including representatives from Brazil, Canada, Colombia, the Dominican Republic, the European Union, France, Germany, Guatemala, Honduras, India, New Zealand, Oman, Panama, the Philippines, Russia, Switzerland, Vietnam and Yemen.

Advancing Global Commerce for Over 90 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.

Caterpillar Chairman and CEO Honored with NFTC World Trade Award

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Washington, DC – The National Foreign Trade Council (NFTC) today announced that Jim Owens, Chairman and CEO of Peoria, Illinois-based Caterpillar Inc., is the recipient of its prestigious 2007 World Trade Award. Owens officially received the award last night at the NFTC’s 93rd Annual World Trade Dinner and Award Ceremony at the Corcoran Gallery of Art in Washington, D.C.

“Jim is one of the U.S. business community’s leading voices in the trade arena, and has demonstrated an unwavering dedication to advocating for the expansion of an open, rules-based global trading system,” said NFTC President Bill Reinsch. “Throughout his tenure at Caterpillar, Jim has led countless initiatives to build bridges between the private and public sectors on issues of global commerce. We are pleased to honor his tireless service.”

The NFTC’s World Trade Award recognizes members of the business community who are respected for proven lifetime leadership in building consensus and promoting the benefits of open trade and investment. The first World Trade Award was presented in 1937.

Owens, who became Chairman and CEO of Caterpillar in February 2004, held numerous management positions after joining the company in 1972. Owens was named chief economist of Caterpillar Overseas S.A. in Geneva, Switzerland in 1975. From 1980 until 1987 he held managerial positions in Peoria in the Accounting and Product Source Planning Departments. In 1987 he became managing director of P.T. Natra Raya, Caterpillar’s joint venture in Indonesia. He held that position until 1990, when he was elected a corporate vice president and named president of Solar Turbines Incorporated, a Caterpillar subsidiary in San Diego. In 1993 he came to Peoria as vice president and chief financial officer with administrative responsibility for the Corporate Services Division.

In 1995, Owens was named a group president and member of Caterpillar’s Executive Office. Over the next eight years as a group president, Owens was at various times responsible for 13 of the company’s 25 divisions. In December 2003, the Caterpillar Board of Directors named Owens vice chairman and appointed him chairman and chief executive officer effective February 1, 2004.

In addition to his membership in the NFTC, Owens is a director of the Institute for International Economics; Chairman of the International Trade and Investment Task Force of The Business Roundtable; and a member of The Business Council and Manufacturing Council in Washington, DC. He is also a director of the Council on Foreign Relations and a member of the Global Advisory Council to The Conference Board in New York.

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Advancing Global Commerce for Over 90 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 Hails Committee Markups of U.S.-Peru Trade Agreement as Important Steps Toward Approval

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Council Urges Bipartisan Support, Action on Other Pending Agreements

Washington, DC – The National Foreign Trade Council (NFTC) today praised the House Ways and Means and Senate Finance Committees for promptly holding “mock” markups of the U.S.-Peru Trade Promotion Agreement (PTPA). The Ways and Means informal markup held this morning comes on the heels last Friday’s markup of the PTPA legislation in the Senate Finance Committee.

 

 

“We thank Chairmen Rangel and Baucus and Ranking Members McCrery and Grassley for making the agreement a priority and leading the charge for a strong, bipartisan vote on this well crafted and thoroughly negotiated agreement,” said NFTC President Bill Reinsch. “The informal markups pave a path forward for full Congressional approval of the agreement in the coming weeks.”

 

 

The PTPA will expand market access for U.S. farmers and ranchers and open the Peruvian services sector to U.S.-based firms. In 2006, U.S. goods exports to Peru totaled $2.9 billion, an increase of more than 25 percent from the previous year. The PTPA will allow for continued and increased market access for U.S. goods, including machinery, electronics, plastics and agricultural products. U.S. services suppliers also stand to gain in the areas of telecommunications, finance, energy, construction and transportation, among others.

“We look forward to expeditious and bipartisan approval of the agreement in the House and Senate, bringing the United States one step closer to formalizing a mutually beneficial, market-opening agreement with a Latin American ally and friend,” said Mary Irace, NFTC Vice President for Trade and Export Finance.

 

 

“Today’s committee action also signals that momentum is building for prompt consideration of agreements that have been negotiated with other countries in the region. We urge the committees to begin scheduling hearings on pending agreements with Panama, Colombia and Korea as soon as possible this year,” Reinsch concluded.

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Advancing Global Commerce for Over 90 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 Commends Senate Finance Committee for Action on U.S.-Peru Trade Promotion Agreement

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Urges House Ways and Means Committee to Schedule Hearing on Trade Deal

Washington, DC – The National Foreign Trade Council (NFTC) today commended the Senate Finance Committee for its prompt hearing on the U.S.-Peru Trade Promotion Agreement (PTPA). The Council also urged the House to move swiftly in scheduling hearings on the agreement, noting that immediate action on the PTPA is needed to allow adequate time during this legislative session for consideration and approval of the other trade agreements pending Congressional review – Panama, Colombia and South Korea.

 

 

“We are encouraged by today’s hearing and look forward to the House scheduling both a hearing and mock markup, two important steps in the process toward approval of the trade pact,” said NFTC President Bill Reinsch. “Understanding the time constraints of this week and next, we urge the leadership of the House Ways and Means Committee to carve out time as soon as possible to consider the Peru agreement, and move forward with the other FTAs awaiting approval.”

 

 

The trade agreement, which has been updated in recent months to include additional provisions on labor, the environment and other issues consistent with the bipartisan agreement reached on May 10, will allow for continued and increased market access for U.S. goods such as machinery, electronics, plastics and agricultural products. The PTPA will also eliminate tariffs and other barriers to trade between the U.S. and Peru. Upon its entry into force, the agreement will allow 80% of consumer and industrial goods and more than two thirds of U.S. agricultural exports to be traded duty-free immediately.

 

 

“This is a solid agreement that is the result of thoughtful negotiations between the U.S. and Peruvian trade officials. This agreement is important to continue strengthening our economic ties with Peru and the Latin American region,” said Mary Irace, NFTC Vice President for Trade and Export Finance. “As the current text is representative of the bipartisan agreement on trade crafted this spring, we hope that when votes are taken this agreement receives broad bipartisan support.”

 


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Advancing Global Commerce for Over 90 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 Welcomes New Senior Vice President Catherine Bennett

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Washington, DC – The National Foreign Trade Council (NFTC) today announced that Catherine Bennett will join the organization as the new Senior Vice President, effective October 1, 2007.

 

 

“Cathie is a great addition to our team and we are looking forward to the meaningful contributions she will make to the NFTC and our member companies,” said NFTC President Bill Reinsch. “With her many years of experience in government and in the private sector, we have no doubt that Cathie will provide thoughtful leadership and expertise to the NFTC. We are extremely pleased to have her join us.”

 

 

Before joining the NFTC, Bennett was a Partner in the Legislative Practice Group at Venable LLP in Washington, D.C., where she focused on a wide range of legislative and regulatory issues, including trade, taxation, and intellectual property. Prior to her work at Venable, Bennett was Vice President of Government Relations for Pfizer Inc., with direct responsibility for trade-related legislative issues. Bennett also served on the National Security Council at the White House and as an aide to Representative Peter H.B. Frelinghuysen.

 

 

In addition, Bennett has played a key leadership role in a number of U.S.-business community led efforts to promote an open, rules-based trading system, and was a dedicated member of the NFTC Board for nearly a decade.

 

 

The NFTC, founded in 1914, is the only business association dedicated solely to trade policy, export finance, international tax and human resources. The organization represents more than 300 companies through its offices in New York City and Washington, D.C. As Senior Vice President, Bennett will focus on membership development and member relations, as well as a number of policy issues, including trade, international tax and intellectual property.

 

 

Bennett succeeds Anne Alonzo, who joined Kraft Foods as Vice President of Global Public Policy last month. Anne had served as Senior Vice President since 2000, and during her tenure also served as Co-Chair of the Hispanic Alliance for Free Trade (HAFT). In addition to her work for HAFT, Anne was instrumental in the NFTC and broader U.S. business community efforts to urge Congressional approval of DR-CAFTA and a number of bilateral free trade agreements with Latin American countries.

 

 

“We thank Anne for her hard work on behalf of the NFTC and for providing valuable counsel and support to our members. We wish her all the best in and look forward to working with her in her new capacity,” concluded Reinsch.

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Advancing Global Commerce for Over 90 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.