U.S. Chamber Coalition Launches New Website to Promote and Defend Rule of Law in Global Markets

WASHINGTON, D.C. – The U.S. Chamber of Commerce’s Coalition for the Rule of Law in Global Markets today announced the launch of a new website dedicated to the promotion and defense of the rule of law in global markets. Among other items, the site will provide a repository for reports, indices, rankings, news, and analysis relevant to the legal environment facing business in countries around the world.

“The goal of this coalition and our new website is to serve as a resource for business, policymakers, and thought leaders regarding the rule of law as it applies to business in markets around the world,” said Jodi Bond, the Chamber’s vice president for the Americas. “The Chamber’s International Division has been focused on building out a message platform and program of work to support transparency and due process for business internationally.  The Chamber’s rule of law effort has been launched in the Americas region, where rapid growth, combined with the elimination of traditional trade barriers through successful free trade agreements, has highlighted the need for greater legal certainty for investors.”

“Working with a group of leading companies, and in outreach to partners in government, academia, and civil society, the Coalition is giving business a voice in the broader societal debate on rule of law,” Bond added.  “For too long, this important dialogue has lacked an organized business presence, and as a result the private sector stake in legal certainty has been neglected.  Today, with the new website as a principal vehicle, the Chamber’s Coalition is working with interested partners to help identify the metrics in existing rule of law-related rankings and indices that best capture the legal environment for business in global markets.”

The Coalition has identified five rule of law factors for business, whose presence helps to attract sustainable, long-term investment to any given country:

1)Transparency: Laws and regulations applied to business must be readily accessible and easily understood.
2) Predictability: Laws and regulations must be applied in a logical and consistent manner regardless of time, place, or parties concerned.
3) Stability: The state’s rationale for the regulation of business must be cohesive over time, establishing an institutional consistency across administrations, and free from arbitrary or retroactive amendment.
4) Accountability: Investors must be confident that the law will be upheld and applied equally to government as well as private actors.
5) Due Process: When disputes arise, they must be resolved in a fair, transparent, and pre-determined process.

The Coalition for the Rule of Law in Global Markets works to promote and defend the rule of law as a critical factor in fostering a worldwide investment climate that supports equality, economic growth, and shared prosperity for the world’s citizens, and advocates on behalf of Coalition members when rule of law violations impact their ability to do business in global markets.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.