Advisory Committee on International Economic Policy (ACIEP)Summary of Discussions Meeting on July 31, 2007 U.S. Department of State The meeting was open to the public; however, participants’ statements are not for attribution. Assistant Secretary of State for Economic, Energy and Business Affairs Daniel S. Sullivan and Committee Chair Michael Gadbaw of General Electric opened the meeting. Sullivan praised the impressive participation of ACIEP members, noting that the ACIEP has become re-energized and integral to policy making. He discussed the outcome of the G-8 Summit meeting in Heiligendamm, Germany, which emphasized U.S. determination to fight the epidemic of infectious diseases such as Malaria, HIV and AIDS. The Assistant Secretary informed the membership of the cooperation between the Administration and Congress to move forward on the Free Trade Agreements with Colombia, Peru, Panama and Korea. He thanked the ACIEP Members for their assistance with getting a record 62 nominations for the Secretary of State’s Award for Corporate Excellence (ACE). The winner will be announced at the Ceremony on November 8, to which all ACIEP Members are invited. Under Secretary of State for Economic, Energy and Agricultural Affairs, Reuben Jeffery III thanked the membership for their work in helping define our agenda in the interest of the U.S. and the promotion of pro-growth economic conditions at home and abroad that promote opportunity and prosperity. He noted that the administration has increased the number of free trade agreements to nine, covering fourteen countries. His priorities include global economic empowerment, trade, energy security/climate change and cultivating private sector support of U.S. Government initiatives. Under Secretary Jeffery stressed the importance of matching the resources available in the U.S. Government to the countries that need and want help. Policies, Programs & Transformational Goals—Nigeria A U.S. government official addressed the political dynamics affecting the business climate in Nigeria. Nigeria accounts for 11% of U.S. oil imports (the fourth largest exporter of crude oil to the United States) and is also the second-largest market for U.S. wheat. Nigeria produces about 3 million barrels of oil per day, but is vulnerable to militant attacks at off-shore facilities, which reduce Nigeria’s production by about 600,000 barrels a day. Nigeria’s production potential is also hampered by the government’s inability to finance its own investments and the difficulty recruiting qualified staff due to the violence. Nigeria’s power supply and infrastructure are not adequate and hinder economic and social development. For example, it is more costly to ship a container within Nigeria than from Europe to Lagos. Nigeria must become more competitive in attracting foreign investment and do more to improve road, rail and port infrastructure, power generation, and remove various barriers to trade. A partnership with the U.S. private sector, Nigerian communities, non-governmental organizations and the oil majors could be instrumental in creating more jobs, reducing poverty and generating more wealth. An ACIEP member from the NGO sector agreed that private partnerships with the U.S. business community would be most beneficial to improving Nigeria’s economy. Over $14 billion in oil is lost every year due to theft. The U.S. government has worked closely with Nigeria and has opened a dialogue that now needs to include the private sector. Nigeria boasts of a very wealthy private sector and enormous investment opportunities. A prosperous Nigeria is vital to Africa’s growth and stability and to U.S. influence in the region. President’s Malaria Initiative Admiral Tim Ziemer, the President’s Malaria Coordinator, discussed the huge success story of the President’s Malaria Initiative (PMI). When PMI was launched in 2005 by President Bush, the goal of the program was to reduce malaria deaths by 50 percent in 15 of the most-affected countries in Africa. PMI is recognized by the international community, throughout Congress and the Administration for its work to cut the number of malaria related deaths. Over 3,000 children a day die in Africa from the disease. The U.S. Agency for International Development (USAID) and the Department of Health and Human Services are working in conjunction with the Gates Foundation, the World Bank and the Global Business Council to eradicate this health crisis that affects the population and economy of the world’s poorest countries. Many of these countries spend 30-40% of their entire budget fighting malaria. The two most vulnerable sectors of the population are children under five and pregnant women. PMI uses a comprehensive approach to treat and prevent malaria—which includes indoor spraying of homes with insecticides, insecticide-treated mosquito nets, and lifesaving anti-malarial drugs and treatment to prevent malaria in pregnant women. PMI’s funding for fiscal year 2007 is $135 million and will increase to $300 million for 2008 with Congressional approval. An ACIEP member from the U.S. business community commented on the need to eradicate malaria and encouraged collaboration with both the private sector and the international community. He praised the USG for its commitment and funding. Subcommittee Updates Subcommittee on Economic Sanctions Chair William Reinsch of the National Foreign Trade Council reported that the Economic Sanctions Subcommittee is submitting a letter to Secretary Rice through the ACIEP, urging a multilateral approach to threats from Iran. The Subcommittee would like to see the Department of State better articulate sanctions policy and be more proactive on pending counter terrorism legislation. The subcommittee requested to be briefed on sanctions from Deputy Assistant Secretary Paul Simons. Subcommittee on Strategic Regions In the first report by the Economic Empowerment in Strategic Regions (EESR) Subcommittee, the chairman, General Dan Christman of the U.S. Chamber of Commerce presented the Subcommittee’s goals. The Subcommittee was established to review the Department’s draft EESR Framework for Action and offer comments and recommendations. The EESR initiative seeks to promote private sector engagement for the purpose of sustainable job creation in strategic regions where poverty and unemployment help fuel support for extremism. The three EESR pilot regions are the Pakistan/Afghan border areas, Iraq and Mindanao (southern Philippines). The specific goals of EESR include:
Among the Subcommittee’s recommendations were the following:
Closing In closing, Chair Mike Gadbaw and Assistant Secretary Sullivan thanked the members for their participation and requested suggestions for topics to be discussed at future Committee meetings. |
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