AEM Hosts Secretary General for the International Institute for the Unification of Private Law to Discuss MAC Protocol



MAC ProtocolProf. Ignacio Tirado, the Secretary General of the International Institute for the Unification of Private Law (UNIDROIT), recently visited AEM’s Washington, D.C. office to strategize with staff and met virtually with member companies to provide them with an update on the current status and future of the MAC Protocol.

The MAC Protocol is a treaty that will provide an international legal framework for the financing of mining, agriculture and construction equipment. Once ratified, the treaty will decrease financing costs for selling and leasing equipment to customers in many markets across the globe.  

The global market for mining, agricultural and construction (“MAC”) equipment accounts for approximately $200 billion annually. Yet, the financing of MAC equipment remains challenging in many parts of the world. Financial institutions are unwilling to provide credit to companies in the MAC sectors to purchase or lease equipment, due to uncertainty created by domestic laws, the possible movement of assets across borders, or challenges in enforcing their rights upon default or insolvency. The MAC Protocol will help overcome these obstacles and allow financiers to provide credit in countries where they are currently unable to do so, and at lower costs, especially in many developing nations. 

Earlier that same day, AEM met with Assistant Secretary of Commerce Industry and Analysis Grant Harris to discuss the Biden Administration’s position on the MAC Protocol and to demonstrate the industry’s support for U.S. government involvement in making the international treaty a financial success for U.S. manufacturers. 

Eighty-three countries are signatories of the Cape Town Convention and are eligible for the MAC protocol to go into effect if they ratify the treaty. AEM is pushing for ratification in key markets across the globe and is convening like-minded organizations to help with international outreach. AEM encourages its members to share the above presentation with their colleagues working in equipment financing, leasing, and international sales. 

To request a copy of the presentation or learn more about the MAC Protocol, please contact AEM Senior Advisor of Global Public Policy Alex Russ at

 For more AEM news and updates, subscribe to the AEM Industry Advisor.     

Advocacy & Legislation, AEM Updates

For more AEM news and updates, subscribe to the AEM Industry Advisor.

Related Articles

AEM Advocates for the Dairy Industry at the Wisconsin Capitol

During the past 40 years, Wisconsin has lost more than 40,000 dairy farms. Small and medium dairy farmers throughout the state are struggling to stay afloat with environmental...

AEM Talks Alternative-Powered Equipment With Canadian Ag & Transport Deputy Ministers

On Feb. 21, at the Canadian Agriculture and Food Museum in Ottawa, Ontario, AEM Ag Sector Chair Bill Hurley, AGCO, Yannick Montagano, Kubota and AEM staff met with Deputy...

Action on Border Security Bill Would be a Great First Step, but Manufacturers Need a Deal Now

By Kip Eideberg, AEM Senior Vice President of Government and Industry Relations — Editor’s Note: This was originally published by The Hill, a top U.S. political website read by...

Boosting Equipment Manufacturing: The Impact of South Carolina’s Agribusiness Infrastructure Incentives

In rural South Carolina lies an initiative that bridges the gap between agriculture and the manufacturing industry. The South Carolina Agribusiness Infrastructure Incentives...

AEM To Continue State Roundtable Series

In 2024, AEM will continue to strengthen our relationships with state agencies across the nation, aiming to host roundtables with the Departments of Agriculture in the American...

View all Advocacy & Legislation