Covington’s David Fagan Testifies Before USCC

Covington’s David Fagan Testifies Before USCC

June 15, 2012

WASHINGTON, DC, June 15, 2012 — In testimony before the U.S.-China Economic and Security Review Commission on Thursday, June 14, Covington & Burling partner David Fagan identified key issues slowing investment by China in the U.S. Mr. Fagan also addressed the nation’s evolving trade and investment relationship with China, focusing on bilateral investment issues between the two countries.

“Chinese foreign direct investment can have a significant positive impact on the U.S. economy, but it has not yet flowed in amounts commensurate with the nature of the relationship between the two economies,” Mr. Fagan told the commission. “Both sides should have confidence that the U.S. can be — and is — open to such investment without the U.S. sacrificing important national security interests and without the investor risking an embarrassing rejection. A strong U.S.-China Bilateral Investment Treaty would help increase this confidence, as well as increase opportunities for U.S. businesses in China.”

Mr. Fagan’s complete testimony can be found here. Full details of the hearing can be found here.

The U.S.-China Economic and Security Review Commission was created by Congress to monitor and report on the national security implications of the bilateral trade and economic relationship between the United States and the People’s Republic of China.