Emergency Committee For American Trade

ECAT Welcomes United States' Reaffirmation of Open Investment Policy

WELCOMES UNITED STATES’ REAFFIRMATION OF OPEN INVESTMENT POLICY

Looks Forward to Continuing Progress on High-Standard Investment Agreements and

CFIUS Reform Legislation

Washington, D.C., May 10, 2007: Calman Cohen, President of the Emergency Committee for American Trade (ECAT), made the following statement following the President’s statement on the U.S. commitment to open economies:

“ECAT very much welcomes the President’s reaffirmation of the United States’ longstanding policy welcoming foreign investment into the United States and seeking to promote more open investment markets worldwide.

“Study-after-study has found that foreign investment in the United States helps create concrete, new economic opportunities and supports U.S. economic growth. Similarly, ECAT’s own studies have demonstrated that U.S. investment abroad supports U.S. and worldwide economic growth and has important benefits in fostering greater U.S. research and development, capital investment in the United States and new technologies, all of which support higher paying U.S. jobs and a higher U.S. standard of living.

“The President’s statement also sets forth an enormously important example to countries around the world about how foreign investment can help them grow and expand their economies and raise standards of living.

“ECAT remains committed to working with the Administration and Congress to expand market access abroad for U.S. investment, as well as to ensure strong protections for such investment, in bilateral and regional agreements. ECAT also continues to work with the Administration and Congress to ensure that investment reviews by the Committee on Foreign Investment in the United States (CFIUS) focus on the national security implications of proposed investments in the United States and are conducted in a manner that strengthens the integrity of that process and fosters investment that is vital for a vibrant U.S. economy.”

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Founded in 1967, ECAT is an organization of the heads of leading U.S. international business enterprises representing all major sectors of the American economy. Their annual worldwide sales total nearly $2.4 trillion and they employ approximately five and one-half million persons. ECAT’s purpose is to promote economic growth through the expansion of international trade and investment.

Attached Document(s): 05-10-2007 ECAT Release on U.S. Open Investment Policy.pdf