AmChams in Europe (ECACC) Discuss Transatlantic Trade and Midterm Elections in D.C.

 

Members of the Council of AmChams in Europe (ECACC), consisting of 42 AmChams across Europe and Eurasia, met in Washington D.C. for their 2010 Transatlantic Conference. The delegates met with key U.S. Chamber of Commerce and Department of Commerce (DOC) officials during the three day conference that took place from October 17 to October 20. Among the highlights: Insider views on the U.S. Midterms; a luncheon at the Department of Commerce; a visit to Lockheed Martin's Global Vision Center; a tour of the White House, a high level business reception; and an executive training session at Georgetown University.

Midterm elections and U.S. economy

Two weeks before what would prove to be one of the greatest mid-term election upsets in recent history, conference attendees had the opportunity to discuss the elections, potential outcomes and impact on international trade and the economy with Washington D.C. experts.  U.S. Chamber President and CEO Tom Donohue led the impressive cast, opening the conference at the U.S. Chamber. Hard hitting comments on the healthcare reform package that "looked like something but ended up being nothing" and capital markets legislation that in his opinion is taking much too long, were just some of his key points. But essentially the Chamber's message is clear when it comes to economic recovery, and the Chamber makes sure that it is the first thing that the President sees when he wakes up in the morning. Adorning the Chamber's stately columns facing the White House lawn a simple four-letter word: JOBS.

Martin Regalia, Chief Economist for the U.S. Chamber was particularly enlightening, offering his perspective on the state of the U.S. economy and President Obama's stimulus package. Regalia pointed out that two-thirds of the U.S. economy is based on consumption and unfortunately the President's stimulus package is not encouraging consumers to spend.  8.5 million jobs have been lost since the crisis began and recovery will be slow. Whatever happens, he said, U.S. tax reform is a real possibility in the near future.

Tremendous insight on the upcoming mid-term elections came from several sources throughout the conference. Rolf Lundberg, Senior Vice President for Congressional & Public Affairs for the U.S. Chamber, talked about the mechanics of the elections and the potential challenges to the administration that could arise from a shift in power in congress. Later at an official ECACC dinner, Kelly Robertson, former Chief of Staff for the Republican National Committee and deputy campaign manager for Bush's reelection, gave a real D.C. insider's perspective on the elections and the impact of the potential outcomes, including which States would play a key role, and in a look out two years, who might be contenders in the 2010 U.S. Presidential elections.

U.S. DOC plenary session

In an afternoon session with the International Operations team of the U.S. Department of Commerce, delegates got the opportunity to meet and discuss key DOC programs, including the National Export Initiative (NEI). Summed up by Juan Verde, Deputy Assistant Secretary for Europe, Market access and Compliance, the NEI is the first time that the U.S. government has rallied forces to develop a collective strategy for exports.  Its three priorities are to provide:

  • More technical support and more resources to identify opportunities
  • Increased access to capital for SMEs looking to export
  • Increased focus on market compliance, making sure that trade laws are respected and enforced
     

He also mentioned that the Transatlantic Economic Council (TEC), which has been virtually non-existent for the last 18 months, will have a new go-forward strategy with new vision to concentrate on the issues that are extremely important including green energy and renewables. Other DOC officials participating in the roundtable discussions included Karen Zens, Deputy Assistant Secretary for International Operations, Pat Kirwan, Director Trade Promotion Coordinating Committee and Aaron S. Brickman, Director, Invest in America.

The highlight of the session was a keynote from Assistant Secretary of Trade Promotion and Director General of the U.S. and Foreign Commercial Service, Suresh Kumar, who recognized the importance of the Department's close partners, the AmChams spread across the globe. He views the AmChams as the true experts - the feet on the street with the best and most in depth knowledge of both the issues and the opportunities that exist in their respective countries.

Lockheed's global vision

For aerospace buffs and anyone who is intrigued by space travel or the history of flight, the Lockheed Martin Global Vision Center is an incredible place to visit. Just ask any one of the delegates that participated in the guided tour of the center during the conference. President for Continental Europe in Lockheed Martin's Global operations, Scott Harris led the tour, which included the Fighter Demonstration Center, the Space Experience Center and the Tactical Solutions Center. At one point, delegates actually got the opportunity to fly a helicopter simulator in the skies over Washington D.C.

Transatlantic Reception

The official conference program concluded with a Transatlantic Business Reception co-hosted by AmChams in Europe and the U.S. Chamber of Commerce. Keynote remarks were delivered by Michael C. Camuñez, Assistant Secretary for Market Access and Compliance, U.S. Department of Commerce and Hiddo Houben, Trade Minister, for the European Union Delegation to the U.S. The more than 150 guests included ambassadors and embassy representatives, senior trade officials as well as representatives from U.S. and European businesses.