USTR - Fact Sheet,38/10en-usFACT SHEET: Model Bilateral Investment TreatyIn February 2009, the Obama Administration initiated a review of the United States’ model bilateral investment treaty (BIT) to ensure that it was consistent with the public interest and the Administration’s overall economic agenda. The Administration sought and received extensive input from Congress, companies, business associations, labor groups, environmental and other non-governmental organizations, and academics. While revisions to a U.S. model BIT do not require Congressional action, negotiated BITs require advice and consent of two thirds of the Senate. in the U.S.-Panama Trade Promotion AgreementThe United States is highly competitive in services trade – providing information and communications technology services, wholesale and retail distribution, express delivery services, energy and environmental services, professional services (such as legal, accounting, architecture, and engineering services), and financial services to customers all over the world. As a result, America is consistently able to export more services than we import every year – despite sometimes significant trade barriers abroad. in the U.S.-Panama Trade Promotion AgreementForeign investment delivers significant economic benefits to U.S. companies and American workers. When U.S. companies can more easily expand to and invest in foreign markets, that access can boost employment, increase wages, promote exports, and enhance innovation here at home by increasing demand for their products and services overseas. Services in the U.S.-Panama Trade Promotion AgreementThe financial services chapter in the U.S.-Panama Trade Promotion Agreement (the “Agreement”) provides extensive market access into Panama for American financial services firms – supplementing and modifying the Agreement’s rules on investment and services without undermining the right of U.S. financial regulators to take action to ensure the integrity and stability of financial markets or address a financial crisis. Importantly, Panama commits to treat U.S. financial institutions comparably to their competitors in the Panamanian market. Economic IssuesU.S.-China Economic IssuesThe White House, Office of the Press Secretary NAFTA Work for U.S. Small- and Medium-Sized BusinessNAFTA partners Canada and Mexico are the top two destinations for American exports from small- and medium-sized businesses, and every day the NAFTA countries conduct nearly $2.6 billion in trilateral trade. The U.S. is working with our NAFTA partners to make it even easier for U.S. small- and medium-sized manufacturers and services providers to take advantage of the NAFTA and export to Canadian and Mexican customers, thus supporting jobs at home. Results achieved in 2010 include: Trade Policy to Help Small Businesses Export and Create Jobs: Key Findings from the USITC Reports on SMEsAs part of USTR’s Small Business Initiative, Ambassador Ron Kirk requested the independent U.S. International Trade Commission (USITC) to conduct a three studies analyzing the role of SMEs in generating U.S. exports and employment; highlighting barriers reported by SMEs and benefits to SMEs of increased export opportunities; and identifying trade barriers that disproportionately affect SME export performance in manufacturing, services and agriculture. These findings will help inform U.S. Agenda with Japan Yields ResultsThe United States remains actively engaged with Japan on a broad agenda of regulatory and related reforms to further open Japan 's market and help spur greater economic growth and competition through new commercial opportunities and improvements to Japan's business environment.The focal point for this intensive engagement has been the U.S.-Japan Regulatory Reform and Competition Policy Initiative (Regulatory Reform Initiative), launched in mid-2001 and now in its eighth year. of Understanding (MOU) between China and the U.S. regarding financial information services WTO Challenge to China's Treatment of U.S. Financial Information Service Suppliers