Category: Press Releases and Statements

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.

 

NFTC Applauds Senate Finance Committee for Scheduling Hearing on U.S.-Peru Trade Agreement

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Washington, D.C. – The National Foreign Trade Council (NFTC) today commended the Senate Finance Committee for scheduling a September 11 hearing to consider the U.S.-Peru Trade Promotion Agreement (PTPA). The Peru agreement is one of four pending free trade agreements (FTA) currently awaiting Congressional approval, with the others being Colombia, Panama and South Korea.

 

“We thank Chairman Baucus and Ranking Member Grassley for their leadership in making the Peru trade agreement a priority for the Senate so soon after the August recess,” said NFTC President Bill Reinsch. “Timely consideration and approval of the PTPA is important to send a signal to our trading partners in Peru and the rest of Latin America that we value our commercial relationship with the region.”

 

Two-way trade between the United States and Peru reached $7.4 billion during 2005, with $2.3 billion of this coming from U.S. exports. The PTPA will allow for continued and increased market access for U.S. goods such as machinery, electronics, plastics and agricultural products, among others.

 

“This agreement is well crafted and is commercially important to both the U.S. and Peruvian business communities,” said Mary Irace, NFTC Vice President for Trade and Export Finance. “The announcement of next week’s hearing sets the stage for the start of the formal Congressional review process and helps pave the way for approval of this agreement.”

 

The proposed agreement would eliminate tariffs and other barriers to trade between the U.S. and Peru. Under the PTPA, 80% of consumer and industrial goods and more than two thirds of U.S. agricultural exports will become duty-free immediately upon implementation of the agreement. The majority of remaining tariffs on U.S. farm exports would be gradually phased out over 15 years, with all to be eliminated in 17 years.  The text of the agreement was modified in recent months to include robust chapters on labor and the environment, following the bipartisan agreement on trade reached between Congress and the Administration in early May.

 

“We urge the House to follow suit and begin scheduling hearings on the Peru agreement, as well as work with the Senate to consider and approve the other three pending trade agreements as soon as possible during this legislative session,” concluded Reinsch.

 

 

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.

 

USA*Engage Welcomes New Co-Chairman Del Renigar

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Washington DC – The National Foreign Trade Council (NFTC) and USA*Engage today announced the appointment of Del Renigar as Co-Chairman of USA*Engage. Renigar serves as Corporate Counsel for International Policy & Trade Regulation for General Electric (GE) Company.

 

“There is no one more qualified than Del to take on the role of providing solid counsel, direction and leadership to USA*Engage,” said USA*Engage Director Jake Colvin. “Del brings with him many years of foreign policy and trade experience from both the public and private sectors, which we will draw upon to help move forward the mission of the organization.”

                                                                                                         

Renigar currently counsels all GE businesses on trade controls and anti-bribery compliance and global public policy, trade, investment, and market access issues. Before joining GE, Renigar served on the National Security Council at the White House and at the Commerce Department.

 

“It is a critical time for USA*Engage and its member companies to work with federal, state and local policymakers on a positive agenda that takes advantage of the complementary nature of U.S. foreign policy, national security and economic interests and that encourages dialogue, engagement and multilateralism as important tools in pursuing those interests, ” said Renigar.

 

Prior to his federal government service, Renigar was an attorney with Steptoe & Johnson LLP in Washington, DC where he maintained a broad international practice.

 

Renigar will succeed Robert Haines, International Senior Adviser for Exxon Mobil Corporation, who served as Co-Chairman of USA*Engage since 2003 and who will retire from the company at the end of the month. Haines has also been a member of the Board of the National Foreign Trade Council for 10 years.

 

“Both NFTC and USA*Engage are sincerely grateful for all of the contributions Bob has made to help achieve the mission of USA*Engage since it was established a decade ago,” said NFTC President and USA*Engage Co-Chair Bill Reinsch. “We appreciate Bob’s many years of service to the organization as a thoughtful leader and contributor and we wish him all the best in his future endeavors.”

 

 

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.

 

 

 

House Majority Leader Steny Hoyer to Keynote NFTC’s 93rd Annual World Trade Dinner

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Rep. Hoyer to Provide Outlook on U.S. Trade and Diplomacy

Washington DC – The National Foreign Trade Council (NFTC) today announced that U.S. House of Representatives Majority Leader Steny Hoyer will deliver the keynote address during the organization’s annual World Trade Dinner and Award Ceremony, which will take place Tuesday, October 2, 2007, at the Corcoran Gallery of Art, in Washington, D.C. Representative Hoyer is slated to share his views on the bipartisan way forward on trade-related issues, including pending trade agreements, sanctions and other timely topics relevant to the international diplomatic community.

 

 

“We are honored to have Congressman Hoyer deliver this year’s keynote address and we thank him for his leadership in urging fellow Members of Congress to work together in a bipartisan way to make real progress on issues of importance to the U.S. economy,” said NFTC President Bill Reinsch.

 

 

Last November Congressman Hoyer was elected to serve as House Majority Leader in the 110th Congress, following two successive terms as the Democratic Whip. Currently, Rep. Hoyer plays a key role in helping House Democrats determine their legislative agenda and building broad support for the Party’s policy priorities. He represents Maryland‘s Fifth Congressional District and is currently serving his 14th term.

 

 

“During his tenure in the House, Rep. Hoyer has demonstrated a keen understanding of the importance of an open, rules-based trading system to economic growth and jobs for American manufacturers, farmers, workers and their families,” said Reinsch.

 

 

Traditionally, public officials and members of the trade policy and U.S. business communities attend the NFTC World Trade Dinner. Recent speakers include United States Trade Representative, Ambassador Susan Schwab; Secretary General of the United Nations, Kofi Annan; Director of National Intelligence, John D. Negroponte, and several Heads of State.

 

 

Members of the media are welcome to attend but must RSVP to Eric Thomas or Jennifer Cummings at The Fratelli Group, (202) 822-9491 (ethomas@fratelli.com or jcummings@fratelli.com).

 

 

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.