ICC News

27 July 2021 ICC has today announced a number of new appointments to lead the work of its Banking Commission – the leading standard-setting body for international trade finance transactions. Lynn Ng of ING becomes new Commission Chair. As part of a number of changes implemented by ICC to strengthen the institutions’ work in this domain, the new leadership of the Commission will consist of a single Steering Committee comprising a Chair and 12 Vice-Chairs – each appointed for initial three-year terms. The Steering Committee will work with the ICC Global Headquarters team to provide strategic direction for ICC’s work on

15 July 2021 The International Chamber of Commerce (ICC) is providing young people with the required tools and resources to succeed in the global economy of the future. Over the past year, the COVID-19 pandemic has upended the lives of young people everywhere. From school closures to fewer employment opportunities – young people have directly suffered from many of the worst consequences of the pandemic. In the face of these challenges, ICC is working with its global network to bridge educational gaps, provide meaningful upskilling, and encourage young entrepreneurs to grow their businesses. By creating an enabling environment for innovation, ICC

13 July 2021 The International Chamber of Commerce (ICC) has published an open letter to trade ministers ahead of the upcoming World Trade Organization (WTO) negotiations on fisheries subsidies. The letter – authored by ICC Secretary General John W.H. Denton – calls upon trade ministers to finalise a fisheries agreement ahead of Thursday’s meeting at the WTO. In the letter, Mr Denton writes, “The global business community considers a rapid conclusion of the fisheries negotiations to be a matter of first-order importance. For business, finalising the deal would represent a significant step forward not only in sustainability and global governance of the

13 July 2021 In recent months, the ICC Centre of Entrepreneurship has expanded its operations by hiring an executive coordinator and releasing a community workshop report. Over the past year, ICC has launched the first two hubs of the ICC Centre of Entrepreneurship to provide specialised training, mentoring, and support services to help entrepreneurs establish, fund, manage, and expand their start-ups. The first regional ICC Centre of Entrepreneurship was launched in Istanbul to serve the Central Asia and Caucus region in early 2020 and was followed by another regional hub in Beirut to serve the Arab region in October 2020. In the coming

12 July 2021 The ICC International Maritime Bureau (IMB) received the lowest number of reported incidents for the first half of any year since 1994. IMB’s latest global piracy report details 68 incidents of piracy and armed robbery against ships – the lowest total since 1994 – down from 98 incidents during the same period last year. In the first six months of 2021, IMB’s Piracy Reporting Centre (PRC) reported 61 vessels boarded, four attempted attacks, two vessels fired upon and one vessel hijacked. Despite the overall decline in reported incidents, violence against crews has continued with 50 crew kidnapped, three

10 July 2021 ICC has welcomed the decision taken by G20 Finance Minister’s to endorse the preliminary agreement by the OECD Inclusive Framework to modernize the global taxation system — but cautions that coordinated implementation of the agreement will be vital to avoid placing unnecessary burdens on cross-border trade and investment.  ICC Secretary General John W.H. Denton AO said: “The fundamental architecture and parameters of the agreement reached through the OECD set a solid foundation to modernize the global taxation system. The G20’s backing for the framework today is an important step towards maintaining the integrity of the international tax system — and

7 July 2021 ICC has issued a warning that the world’s richest economies risk imposing major costs to the global economy absent of a step-change in their approach to managing the Covid-19 pandemic. In a statement issued ahead of this week’s meeting of G20 Finance Ministers, ICC Secretary General John W.H. Denton AO said: “The finance ministers of the world’s richest economies are taking a huge gamble with their domestic economic fortunes if they fail to take concerted action to vaccinate the world. As demand rebounds in many western economies, we’re already seeing damaging supply shortages in many important sectors –

7 July 2021 The International Chamber of Commerce has launched a global call for interested candidates to participate in a newly created Task Force on Disability Inclusion and International Arbitration, formed under the ICC Commission on Arbitration and ADR. The call for expressions of interest to ICC’s wider network is the first measure undertaken by Claudia Salomon, just one week into her term as President of the ICC International Court of Arbitration. Formally established in May upon proposal from Claudia Salomon to the Commission’s Steering Committee, the new Task Force on Disability Inclusion and International Arbitration seeks to ensure ICC’s dispute

2 July 2021 Claudia Salomon’s election as the first woman President of the ICC Court has won an award for the best development in international arbitration. The Global Arbitration Review award was presented last night during a virtual Awards ceremony, which brought together practitioners from around the world. In a recorded acceptance speech, Ms Salomon said she was truly honoured to have been selected as the new President of the ICC Court by the Selection Committee of “international arbitration giants”, including the late Emmanuel Gaillard who passed away in April. Echoing United States Vice-President Kamala Harris’s words, ”I may be the first woman

1 July 2021 Claudia Salomon has begun her term as President of the ICC International Court of Arbitration following formal election in June. Ms Salomon, who takes the reins from former ICC Court President Alexis Mourre, was formally elected on 11 June by ICC’s supreme governing body, the World Council. Ms Salomon is supported in her role by the ICC Court, comprising 195 members from 121 countries and including 17 Vice-Presidents which begins its 2021-2024 mandate under Ms Salomon’s leadership today. The new ICC Court includes 68 new members and 12 new Vice-Presidents also elected during the World Council meeting of