NFTC: Obama needs to promote commerce at G20

NFTC: Obama needs to promote commerce at G20

Obama

   The National Foreign Trade Council said it is urging President Barack Obama to take the lead in facilitating foreign trade during the G20 Summit in London this week.
   The NFTC joined seven other prominent business associations in calling on Obama to express to world leaders at the summit the United States’ commitment to international engagement in the global economy.
   “The president has a major opportunity this week to send a very clear message to the G20 that the United States is committed to an open, rules-based trading system and policies that promote the flow of commerce, investment and economic growth worldwide,' said NFTC President Bill Reinsch. “The eyes of the world are on the United States, and the signals we send with regard to trade and investment have a ripple effect around the globe.

Reinsch

   “Particularly in this time of economic crisis, it is critical for the United States to exert leadership on the world stage by encouraging all nations to reject protectionism and measures that would further restrict the free flow of capital and investment, and in turn, stifle economic growth. U.S. and global economic recovery are intertwined, and we urge the president to seize this moment to set an example for the rest of the world.”