SFA Locsin Invites US-ASEAN Business Council to do Business in the Philippines

SFA Locsin Invites US ASEAN Business Council 1

Foreign Affairs Secretary Teodoro L. Locsin, Jr. meet with US-ASEAN Business Council (USABC) President and Chief Executive Officer CEO) Ted Osius (first photo, center). (Washington PE photos)

WASHINGTON D.C. 09 September 2021 – Foreign Affairs Secretary Teodoro L. Locsin, Jr. met with US-ASEAN Business Council (USABC) President and Chief Executive Officer (CEO) Ted Osius during his working visit to the United States to mark the 75th anniversary of Philippines-United States diplomatic relations on 08 September 2021.

The two discussed ways to further expand the three-decade-old partnership between the Philippines and USABC, noting that USABC has been instrumental in ensuring that United States businesses find a reliable trade and investment partner and hub for their regional operations in the Philippines. 

Secretary Locsin congratulated Ambassador Osius on his assumption as President and CEO of USABC.

Secretary Locsin underscored that President Duterte’s restoration of the Visiting Forces Agreement (VFA) puts the relationship between the Philippines and the United States back on track and restores the security balance in the Asia-Pacific. In turn, Ambassador Osius said USABC members lauded President Duterte’s decision as it gives fresh impetus to further broaden Philippines-United States engagement, especially in the economic sphere.

Secretary Locsin encouraged USABC to resume business missions to the Philippines as soon as possible, to effectively support the country’s post-pandemic recovery efforts. Ambassador Osius noted that there is huge potential for growth in Southeast Asia, with United States companies looking at opportunities for diversification in the region, particularly on supply chains.

Beyond health-related cooperation, the Philippines remains open to opportunities for collaboration in the energy, IT-BPM, manufacturing, and telecommunications sectors, all with an eye towards sustainability. END

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