OIA and USTR co-lead talks with the European Union under the Transatlantic High-Level Working Group on Investment (IWG) under the auspices of the Transatlantic Economic Council (TEC). The IWG intends to build on and strengthen existing cooperation on investment policy issues of mutual interest and to help ensure that our large and highly integrated investment relationship continues to set the standard for open, transparent, and non-discriminatory international investment policies. International investment, both by American companies abroad and by foreign companies in the United States, benefits U.S. companies and American workers by creating high-paying jobs, boosting exports, and spurring innovation in the United States. Some of the issues that are the basis for consultations under the IWG are investment agreement practices and third country and global investment issues.
As part of this process, the U.S. and EU in April 2012 reached agreement on Shared Principles for International Investment, which reaffirms our commitment to open, transparent, and non-discriminatory international investment policies. The principles embody a number of shared core values, including a commitment to open and non-discriminatory investment policies, a level competitive playing field, strong protections for investors and their investments, neutral and binding international dispute settlement, strong rules on transparency and public participation, responsible business conduct, and narrowly-tailored reviews of national security considerations. The joint statement recognizes that governments can fully embrace these principles without compromising their ability to regulate in the public interest.