Competitiveness Councils From Around the World Join Forces to Drive Global Growth and Prosperity

Leaders from More Than Thirty Nations Launch Global Federation of Competitiveness Councils

WASHINGTON, Nov. 17, 2010 /PRNewswire-USNewswire/ -- Bank of America Chairman Charles O. Holliday Jr. formally announced today the formation of the Global Federation of Competitiveness Councils (GFCC). The organization will create a global network for the exchange of information between competitiveness councils and identify new metrics to benchmark international competitiveness. The Council on Competitiveness will serve as the GFCC Secretariat and one of seven founding members along with Brazil, Egypt, Russia, South Korea, Saudi Arabia and the United Arab Emirates.  

"The GFCC validates our belief that to successfully compete in the global economy – we must engage in the global economy," said Holliday, who will serve as the first Chairman of the GFCC. "We need to explore ways to cooperate and collaborate toward economic growth, not erect barriers that have no hope of holding."

The Federation will conduct its first annual meeting on December 10, 2010 in Washington, DC, and release a statement of shared principles for accelerating global competitiveness and prosperity. This document represents a shared commitment to address issues such as intellectual property and fighting protectionist reactions to the global economic downturn. Competitiveness councils from nearly thirty member nations will participate in the meeting.  

"As the first global network devoted exclusively to competitiveness strategies, our mission is to raise global awareness about the true drivers of global economic growth and support policies that will expand international prosperity," said Deborah Wince-Smith, president & CEO of the Council on Competitiveness. Wince-Smith will serve as the first president of the GFCC.

The Council recognizes that the fundamental drivers of national competitiveness are being knitted together in networks that now underpin global economic growth. Innovation, sustainability and resilience, which were once the foundations for national competitiveness advantage, are now global platforms for prosperity. By creating a unique network of new global partnerships, the member Councils are providing an opportunity to gain valuable contacts in the international business community and affect change in global competitiveness policy.

The Council on Competitiveness is a leadership organization comprised of CEOs, university presidents and labor leaders working to ensure U.S. prosperity. The Council has one goal: to strengthen America's competitive advantage by acting as a catalyst for innovative public policy solutions that address America's major competitive challenges and capitalize on its unique strengths.

Charles O. Holliday Jr. is the Chairman of Bank of America and Chairman Emeritus of the Council on Competitiveness. Holliday served as CEO and chairman of the board of DuPont for nearly a decade and successfully transformed and reengineered the company to focus on achieving sustainable and environmentally responsible growth. As chairman of the Council on Competitiveness, Chad led the Energy Security, Innovation and Sustainability Initiative and the Council's release of Drive, a comprehensive energy plan supported by a broad coalition of public and private-sector leaders.

Deborah Wince-Smith is the president & CEO of the Council on Competitiveness.  A recognized authority on competitiveness, innovation strategy and science and technology policy, Wince-Smith has held leading positions in the areas of science, technology policy and international economic affairs during her 17-year tenure in the federal government. She is a Senate-confirmed member of the Oversight Board of the Internal Revenue Service and sits on the board of directors for NASDAQ-OMX, Inc.

SOURCE Council on Competitiveness