ambassador speeches

Ambassador’s Remarks to PASS Conference
“Business and Security: Who Will Pay the Price?”

October 11, 2005

Good morning.  I am very pleased to participate, together with the President of the Senate Premysl Sobotka and former President Vaclav Havel, in opening this important conference exploring the ramifications of security issues on commercial business interests. 

In today’s global marketplace, it is critical to understand the nexus between issues and events around the world, and the dramatic impact they can have on the normal operating business environment.  A powerful example of this connection was the recent impact of Hurricane Katrina, which not only devastated large and economically vital areas of the American southeast, but has in turn impacted global oil forecasts, the functioning of the international insurance industry and regular delivery of important goods and services across state, national and international boundaries. I would hasten to add that although catastrophic in the breadth of human suffering and dislocation, the response to Katrina and Rita are proving also the resilience of the American economy to withstand such shocks.

There is an old American adage that states: “The only things that are certain are death and taxes.”  This principle holds true in today’s business world, which must operate in an increasingly uncertain environment.  Today, companies seeking new markets must confront concerns about nuclear safeguards, criminal money laundering, international sanctions, terrorism and the financing of terrorist operations.  At the same time, companies must be bold in meeting their shareholders’ expectations, seeking out new commercial opportunities, even in markets where the current economic or political environment may be less than ideal.  There is a valuable reward to committing to such new markets -- by encouraging foreign investment in countries where it can make a critical difference in rebuilding shattered infrastructure, providing necessary employment to thousands, and giving new life to societies destroyed by years of totalitarian and corrupt regimes.
Yet, at the same time, doing business in such an environment requires particular attention to corporate governance, due diligence and disclosure, and public-private cooperation.

I am pleased to see today’s companies taking on these challenges, and their associated responsibilities.  Just six days after my own arrival in Prague as the new U.S. Ambassador to the Czech Republic, I was fortunate to accompany Foreign Minister Svoboda on a trip to Baghdad on the first political-trade mission of a Coalition Ally.  Participating in this trip were 14 Czech companies interested in doing business in Iraq.  I am pleased to note that many of these companies have maintained their commitment to Iraq despite concerns about an on-going insurgency effort, and this commitment in turn has given heart to the many dedicated Iraqis seeking to create a stable democratic system and free market economy in their country.

I would like to thank Jiri Schneider and his team at the Program of Atlantic Security Studies, for organizing this important conference about geopolitics and the challenges facing businesses globally.   This forum will provide substantive discussions about how cooperation between corporations and governments can address the security issues impacting commercial business operations, while at the same time balancing responsibilities and liabilities of the many partners in our global marketplace.  Thank you for your attention.