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PIA Press Release

Commentary: US-ASEAN biz council to build economic ties with RP

Cebu, Philippines (30 September) -- Top businessmen in the U.S. lauded President Gloria Macapagal-Arroyo for her strong leadership and steering the Philippines into one of the fastest growing economy in Asia.

Matthey Daley, president of the US-ASEAN Business Council in his meeting with President Arroyo said its members that include the Fortune 1000 companies have discussed with the President their business interests and how these would complement her administration's development plans with the country's super regions.

Daley said, the top American business executives noted the country's sound and fiscal monetary reforms that contributed greatly to its economic growth.

"The Philippines has the fastest yearly progress in economy, smallest increase in prices, and the most number of new jobs created in the last 20 years," the business council said.

President Arroyo had a luncheon meeting with the US-ASEAN Business Council at the Norse Suite on the 18th Floor of the Waldorf Astoria Hotel in New York recently that was attended by approximately 20 leaders of American companies such as Abbott Laboratories, AES, AIG, Altria, Cocoa-Cola Company, Ford Motor Company, InterGen, Pfizer, and Time Warner.

According to the US-ASEAN Business Council that is based in Washington, D.C. they are committed and dedicated to strengthen US-ASEAN bilateral relations and build strong economic and commercial ties.

"Members of the Council include Fortune 1000 companies in support of promoting trade, investment, and technology cooperation, advancing US-ASEAN relations through strong participation in public-private partnerships, and committing to development and corporate social responsibility," the US-ASEAN Business Council said.

Its members come from diverse industries, including aerospace, agribusiness, automobiles, computers and information technology, consumer goods, energy exploration and development, express delivery services, financial services, health care and pharmaceuticals, media and entertainment, mining, software, and telecommunications.

Before meeting with the American business group, the President told the Philippine media covering her Sept. 26-28 visit to New York that she will share with the American business executives that the country is well on its way to economic progress; that it belongs to a fast-growing ASEAN region and that there are billions of dollars in investments coming into the country. (PIA-7) [top]

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»Commentary: US-ASEAN biz council to build economic ties with RP
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