The US Administration is undertaking a review of the US model bilateral investment treaty (BIT), last updated in 2004. The US refers to the text of model BIT in its BIT negotiations with other countries (the US is currently a party to 40 BITs). The objective of the current review is to ensure that the model BIT is consistent with the public interest and the overall US economic agenda. The Department of State and the Office of the United States Trade Representative (USTR) recently held a public meeting in which they sought comments to take into consideration in their review. The Administration is also seeking advice from the State Department's Advisory Committee on International Economic Policy and from statutory advisory committees that advise USTR and the Department of Commerce.