ICC's contribution to achieving the Bali Package and in reinvigorating trade negotiations at the WTO are at the centre of the ICC mission to promote cross-border trade and investment as a means of fostering peace and prosperity.
This is ICC’s principal mission, and the basis on which it has staunchly and consistently supported the work of the World Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT).
Over the past 60 years, international trade and investment have contributed to improving the standard of living of billions of people around the world, by creating new economic opportunities for producers and consumers alike and by strengthening ties between nations, thereby contributing to global peace and prosperity and fostering greater freedom around the world. Companies and supply chains increasingly operate across multiple borders, and these activities can help to spread prosperity, technical know-how and capital, provided that they take place in a framework that is fair, transparent and rules based
Cross-border investment is a vital driver of global economic growth and conveys benefits to businesses and home governments that frequently may be overlooked. Domestically, foreign direct investment links local companies to global value chains, underwrites trade and export opportunities, and facilitates the inflow of capital, technology, and skills. For multinational investors, it enables firms to establish a presence in global markets, particularly the fast growing markets of emerging countries. For many global companies, it is not unusual for 50-60% of their total sales and profits to be derived from foreign affiliates.
The WTA initiative aims for business
to define, in partnership with governments, a 21st century world
trade and investment agenda to stimulate economic growth and job creation by: