On July 11, the Competitive Advantage panel at the World Justice Forum IV explored rule of law factors that contribute to investor confidence, the impact of weak or non-existent rule of law on economic growth and job creation, assessment tools used by the business community to determine candidate markets, and more.
As companies look to expand their product and service offerings globally, rule of law is a critical consideration. Companies prioritize predictability and consistency to minimize financial risk, but reputational risk can be an equally important factor. As the world saw recently in Bangladesh, for companies trading on globally-recognized brands, the existence and enforcement of rule of law, including the protection of basic human rights, is no longer a luxury. In this session, panelists discussed regulations that guide corporate activities in a foreign marketplace, and also introduced case studies and ideas on how business can collaborate with other stakeholders to strengthen overall rule of law.
- Patrick Kilbride, Executive Director, U.S. Chamber of Commerce, Americas Division and Coalition for the Rule of Law (USA)
- Rolf Alter, Director, Public Governance & Territorial Development Directorate, Organization for Economic Cooperation & Development (Germany)
- Hernando José Gómez, Colombian Lead on U.S.- Colombia FTA Task Force (Colombia)
- David Lorello, Partner, Covington & Burlington (United Kingdom)
- Elizabeth Morrissey, Managing Partner, Kleiman International (USA)
- John Edwin Mroz, President & CEO, EastWest Institute (USA)
- Scott Scherer, Vice President, Boeing Capital Corporation (USA)
- David Torstensson, Vice President, Pugatch Consilium (Israel)