by Kimberly Munsey-Carlton

Created on: April 18, 2008

Founded in 1919, with its' international secretariat established in Paris and International Court of Arbitration developed in 1923, the International Chamber of Commerce (ICC), was created to serve and promote world business trade and investment, open markets for goods and services, and the free flow of capital. (1) The ICC pledge made in a key article of the ICC's constitution: "to assure effective and consistent action in the economic and legal fields in order to contribute to the harmonious growth and the freedom of international commerce" best explains their global mission statement. (2)

ICC's first president was Etienne Clmentel, France's Minister of Commerce at the time, who declared publicly that the world, in particular the United States, held an obligation to help France repair itself physically as well as as economically from the devastation brought on by Germany in World War I. (3) After war came in 1939, ICC moved from France to neutral Sweden but ICC is still based in Paris today. (2)

When it met for the first time in Atlantic City it represented the private sectors of Belgium, Britain, France, Italy and the United States, but has since became inclusive of around 140 countries. (2) ICC hosts a World Council general assembly. This is comprised major intergovernmental organization composed of business executives that nationally form committees who name delegates to the Council. The World Council usually meets twice a year and it elects the Chairman and Vice-Chairman for two-year terms. The International Court of Arbitration is an institute that resolves international commercial disputes and recently has seen an increasing number of cases, with more than 500 cases a year handled by the International Court of Arbitration since 1999. The court has become the most trusted system of commercial arbitration in the world. More than 14,000 cases have been heard and resolved since it was conceived in 1923. It has developed a reputation for fast, flexible dispute resolution services globally. (1)

The ICC may be the antithesis to protectionism and anti-globalization, in the world of economics. ICC is an international organization that is an advocate of world business in the global economy, working to promote and support global trade and globalization. It is a world business organization, made up of member states, helping to develop a bigger, global outlook on business matters with direct access to national governments worldwide. (1) Three prominent ICC members

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