This remains 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).

Promoting trade and investment as engines of economic growth

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.

Overcoming obstacles in ongoing trade negotiations

The World Trade Organization (WTO) rules provide a transparent framework within which the businesses, which produce the goods and services that are traded around the world every day, can operate globally. The rules, however, are not perfect and after 12 years the WTO's multilateral trade negotiations are deadlocked. The stalemate in Doha Development Agenda (DDA) negotiations threatens cross-border trade, which has been the engine of the world economy for the last 60 years as a driver in creating jobs and increasing economic growth.

Since global trade has dropped sharply and volumes are not expected to rise without restructuring multilateral trade negotiations, ICC is mobilising business to provide its recommendations for governments to address the urgency of declining trade, which has been further hampered by the shortage of trade finance and the rising threat of protectionism.

Mobilizing business behind a 21st century trade and investment agenda

The WTA initiative aims for business to define, in partnership with governments, a 21^st century world trade and investment agenda to stimulate economic growth and job creation by:

• promoting international trade and investment as engines for economic growth and job creation
• pursuing negotiations at the WTO to reach an immediate agreement on deliverables by the 2013 Bali Ministerial
• moving trade and investment policy “beyond Doha” and into the 21st century.