ICC News

11 June 2019: The International Chamber of Commerce (ICC) Banking Commission has released its 2018 Trade Register report – again highlighting the low risk nature of trade finance in comparison to other asset classes. In 2018, global trade reached a new peak of US$18.5 trillion, underpinning a trade finance revenue pool of US$48 billion. ICC Trade Register data confirms default rates from 2008-2018 are low across all products and regions surveyed. For the first time, payables finance and non-OECD Export Credit Agency-backed export finance products are included in the Trade Register. This year’s report captures a full decade of trade finance-related

11 June 2019: A total 842 cases were administered by the International Court of Arbitration of the International Chamber of Commerce in 2018 – the second highest total of registered cases ever – according to the latest figures released by ICC today. Worldwide, 2,282 parties were involved in ICC Arbitration cases from 135 countries in 2018. Newly registered cases in 2018 represented an aggregate value of US$ 36 billion, with an average amount of US$ 45 million in dispute. The aggregate value of all pending disputes before the Court at the end of the year was US$ 203 billion, with an

6 June 2019: ICC Albania ‘’ABC (Anti-corruption Business Coalition) Project’’ earns the ICC National Committee Initiative of the Year first prize in Europe and third place globally for introducing a set of solutions and tools in Albania that aim improvement of the investment climate through addressing fight against corruption. This project focused on unleashing corporate integrity as an area that requires more engagement from stakeholders, such as private and public sectors, aimed at the same time the improvement of the investment climate in Albania. The ABC project framework is designed in three pillars; first pillar aim the creation of an advocacy

5 June 2019: ICC Albania appreciates the opportunity given by the Investment Council Secretariat in Albania to provide input on the Draft-Law on Investment document. ICC Albania has circulated the draft within its membership and submits the reviewed comments and recommendations deemed of particular importance for business and for the furtherance of an enabling investment climate in Albania. The document is available in Albanian language and has been submitted to Ministry of State for the Protection of Entrepreneurship, Ministry of Finance and Economy and to the Secretariat of the Investment Council in Albania. Komente dhe Sugjerime mbi Projektligjin ''Për Investimet'' Projektligj

Celebrations took place in Paris this week, beginning a year of activities to mark 100 years of the International Chamber of Commerce. Centenary events are set to take place in each region of the world, concluding in Mexico in March 2020. But in case you missed the launch celebrations, here are five ICC@100 highlights from our week: 1. ICC Centenary Summit A celebratory ICC Centenary Summit took place on 28 May gathering corporate, political and civil society leaders to discuss private sector contributions to address global challenges, including world trade reform, climate change, rising inequality, digital inclusion and long-term market incentives.

Welcome remarks by ICC Secretary General John W.H. Denton AO on the occasion of the International Chamber of Commerce Centenary Summit Bonjour et bienvenue ! It is my great honour to welcome you to the ICC Centenary Summit, here in Paris, as we come together to celebrate the many years this august institution has worked to promote peace and prosperity through international trade. I have the distinct privilege, as I have said before, of being the first Australian to lead ICC. I do this in collaboration with the support and guidance of an outstanding Executive Board and Chairmanship, including our distinguished chair

The 11th World Chambers Congress taking place in Rio on 12-14 June will explore the ramifications associated with climate change and how business can implement sustainable practices across the global supply chain. In today’s world, business must accept responsibility for the societal impact of their operations. The Sustainable Development Goals [SDGs] are a common roadmap adopted by world leaders in 2015 for “people, planet and prosperity” as part of the UN’s 2030 Agenda. In particular, SDG 13, Climate Action, calls for member states to “take urgent action to combat climate change and its impacts by regulating emissions and promoting developments in

The International Chamber of Commerce (ICC) has published guidance on international best practices for Value Added Tax (VAT) implementation. As the world business organization, the International Chamber of Commerce (ICC) promotes international trade, responsible business conduct, and a global approach to regulation. In today’s interconnected global economy, value added tax (VAT) has become an increasingly important source of revenue for countries worldwide. With more and more countries implementing or reforming existing VAT regimes, ICC has published the ICC International Best Practices and Guidance on Value Added Tax Implementation to provide a common roadmap for tax administrations and business before, during, and

On behalf of 45 million companies worldwide, the International Chamber of Commerce has issued a declaration setting out a vision to shape the future of global business for the next century. Mirroring the declaration issued 100 years ago by ICC’s “Merchant of Peace” founders, the declaration sets out guiding principles for ICC as a purpose driven international organisation, working with renewed purpose to make business work for everyone, every day, everywhere. Issued upon conclusion of the world business organization’s Centenary Summit in Paris today, the declaration endorses Intergovernmental Panel on Climate Change findings on the urgent need to keep the global

The International Chamber of Commerce World Chambers Federation (WCF) is pleased to announce the publication of revised Certificate of Origin (CO) guidelines. Today, ICC WCF has launched a revised version of its International CO guidelines, which aims to provide chambers of commerce and exporters with updates on new processes, including digitalisation of the CO process. Since 1953, ICC has consistently advocated for a common definition to determine the origin of manufactured goods to improve trade efficiency, protect intellectual property, and ensure product safety. ICC WCF’s efforts to establish an international standard on certificates of origin came to fruition in 2006 with