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Joint Press Release Swiss-U.S. Joint Economic Commission (JEC)

Joint Press Release Swiss-U.S. Joint Economic Commission (JEC)

Swiss-U.S. Joint Economic Commission (JEC) Discusses the Challenges of
Balancing Global Competition and National Regulation  at WEF Annual
Meeting 2005

A U.S.-Switzerland panel discussion on the theme of "Balancing Global
Competition and National Regulation" took place on January 27 as part
of the WEF program in Davos. It was organised in conjunction with the
World Economic Forum, jointly by the Swiss State Secretariat for
Economic Affairs (seco), the U.S. Embassy in Switzerland,
economiesuisse (the Swiss Business Federation) and the Swiss-American
Chamber of Commerce.

Joseph Deiss, Swiss Federal Councillor and Head of the Department of
Economic Affairs, and Michael K. Powell, Chairman of the U.S. Federal
Communications Commission, provided government perspectives to the
discussion. The corporate views were presented by Brian Henderson, Vice
Chairman of Merrill Lynch for Europe, Middle East and Africa; Walter B.
Kielholz, Chairman of the Board of Credit Suisse Group; André Kudelski,
President and CEO of the Kudelski Group; and Michael D. White, Chairman
and CEO of PepsiCo International. Olivier Fleurot, CEO of The Financial
Times, acted as the panel's moderator.

The panelists discussed the challenge of reconciling some key
objectives of global companies with the political imperatives of
national regulation. The need for a strengthened dialogue between the
private sector and local political authorities was emphasized. Several
panellists called for enhanced co-operation, inter alia through
international agreements as a way to address the major issues

The U.S.-Switzerland Joint Economic Commission (JEC) is designed to
involve government and business leaders from both countries in
co-operating on joint projects that promote stability in the global
economy and strengthening the two countries' political dialogue and
economic partnership.

State Secretariat for Economic Affairs (seco) Mr. Philippe Nell
Effingerstrasse 27 3003 Berne Phone: +41 31 322 23 27 Fax: +41 31 325
73 61  US Embassy Press Mr. Dan Wendell
Jubiläumsstrasse 93 3001 Berne Phone: +41 31 357 7248 Fax: +41 31 357
73 44