ICC News

In response to the European Commission’s proposed provisions for cross-border data flows in trade and investment agreements, ICC calls on EU member states to prevent digital protectionism. In a letter to Emil Karanikolov, Minister of Economy of Bulgaria—the nation currently presiding the Council of the European Union (EU)— ICC Secretary General John W.H. Denton AO urged EU member states to strengthen language in the proposal that could otherwise allow countries to introduce damaging protectionist measures under the guise of protecting personal data and privacy. “A failure to obtain effective trade commitments against unjustified data localisation measures and for legitimate flows of

Arbitration users have once again recognised the International Court of Arbitration of the International Chamber of Commerce as their most preferred arbitral institution worldwide, according to a major 2018 International Arbitration Survey. Conducted by the School of International Arbitration, Queen Mary University of London (QMUL) in partnership with White & Case, the survey results highlight that “ICC stands out as the most preferred institution by a significant margin (77%)” – pointing to ICC’s reputation, recognition and global presence as well as its international experience ability to take into account users’ specific needs and preferences, as significant appealing factors for users. The

This Monday, on the 14th of May,  ICC Albania with the support of the Embassy of the Netherlands in Albania organized the Corporate Integrity Forum. This forum brought together local and international leaders from business, government and civil society. It offered a platform to discuss multi-stakeholder collaboration as a model to create more impact on responsible business conduct. The Corporate Integrity Forum also launched a new initiative from ICC Albania and supported by the embassy ‘The Anti-Corruption Business Coalition.’ The coalition aims to increase dialogue between the private sector, government and civil society and advocates to translate integrity policies into concrete

World Intellectual Property (IP) Day takes place on 26 April, highlighting the essential role IP rights play in encouraging innovation and creativity. This year, World IP Day will celebrate the leading role women are playing in driving change in the world. To mark the occasion, we put five questions to Ingrid Baele, the newly-appointed Chair of the ICC Commission on Intellectual Property. Ms Baele is Vice-President of Philips Intellectual Property and Standards (IP&S)—the organisation handling all Royal Philips’ IP matters—and has a great deal of international experience in IP management and strategy. You are the first female Chair of the IP Commission.

Common-sense reforms that make trading easier and faster can have a greater impact than removing every tariff in the world. Global business representatives at an ICC summit in Buenos Aires ahead of the G20 meeting agreed on the importance of furthering trade facilitation. The G20 meeting in Argentina approaches this year at a time of historic uncertainty around global trade and the future of the multilateral trading system. Fears surrounding this uncertainty are particularly acute for the global business community, as many companies depend on global value chains vulnerable to new trade barriers. What was clear at ICC’s Regional Forum on

In view of rising trade tensions caused by proposed tit-for-tat tariff increases, the International Chamber of Commerce (ICC) has issued the following statement. ICC Chairman Sunil Bharti Mittal said: “Open markets underpinned by the rules-based multilateral trading system have been a vital driver of prosperity across the world over the past 50 years. Any erosion of that system will come at quite a cost to us all. “Tariff hikes will inevitably impact small businesses that often rely heavily on imported goods and services. Longstanding US trade policies, such as the Generalized System of Preferences (GSP), have been shown to play a

Achieving the United Nations’ (UN) Sustainable Development Goals (SDGs) requires US$2.5 trillion each year in developing countries. How can private sector resources best be leveraged? While levels may still be below their pre-financial crisis peak, international investment has grown substantially in the last decade, projected to have increased to nearly US$1.8 trillion in 2017. Much of this owes to the changing geography of the global economy. By 2016, foreign direct investment (FDI) outflows from developed countries in the Asia-Pacific reaching their highest level since 2008. China is now the second largest investing country in the world. Moreover, governments are increasingly recognising

The Annual Meeting of International Chamber of Commerce (ICC) Banking Commission gets underway in Jakarta this week. This major forum gathers the world’s who’s who of the trade finance industry and provides participants with exciting opportunities throughout its duration. Here are 5 things we can expect at the meeting: 1. Networking with industry leaders   The list of speakers and delegates at the Annual Meeting reads like the Who’s Who of the trade finance world; gathering close to 600 trade experts, banking professionals, business leaders, lawyers and government officials all under one roof. And with a range of periphery events, in

Recent months have seen governments around the world lay out proposals for taxing the digital economy. ICC recommends that any measures be developed on the basis of international tax rules and seek an alignment with global efforts. Yesterday, the European Commission released two legislative proposals for taxing of digital firms ahead of the European Union (EU) leaders’ summit on 22-23 March, where the issue will be discussed further. The previous week, the Organisation for Economic Cooperation and Development (OECD) released a report on “tax challenges arising from digitalisation” and signalled that more than 110 countries will work to build a consensus

Three global business heads have been named winners of the Oslo Business for Peace Award for exceptional contributions to peace building through business initiatives. The 2018 laureates are Lori Blaker, president and CEO of TTi Global; Edgar Montenegro, founder and CEO of Corpocampo; and Martin Naughton, founder of Glen Dimplex Group. Dubbed the Nobel Prize of business by international media, the Oslo Business for Peace Award is awarded annually to exemplary business leaders who foster peace and stability for the greater good of society through their everyday business efforts. Commenting on the announcement, Secretary General of the International Chamber of Commerce John Danilovich