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21/06/2012: PHL Embassy Hosts Reception for APCAC

20 JUNE 2012, WASHINGTON, DC – The Philippine Embassy hosted a reception for the Asia-Pacific Council of American Chambers of Commerce (APCAC) entitled: “2012 APCAC Washington Doorknock” for their delegation members at the Embassy’s Romulo Hall. Minister and Consul Ariel R. Peñaranda, Charge d’Affaires, a.i., delivered the welcome remarks at the event, followed by a presentation on the Philippine economy and the global economic outlook by the Embassy’s Economic Officer Lito Nayan. The APCAC Delegation, comprised of top representatives from Bangladesh, Cambodia, Japan, Korea, Philippines, Thailand, and Vietnam, was headed by Mr. Tom Clark, Vice President, GE Capital (Asia).

Mr. Peñaranda spoke on the  Philippine – US Bilateral relations, which he said has been further strengthened with the successful official visit of President Benigno S. Aquino III to the United States two weeks ago.

Minister and Consul Ariel Peñaranda (left photo) delivers the welcoming remarks before members of APCAC on June 20 at the Romulo Hall.  Also in attendance were former US Ambassadors to the Philippines Thomas Hubbard (leftmost, right photo) and John Maisto (rightmost, seated, right photo).

Economic Officer Nayan showcased the Philippines’ resilient economy and the many trade and investment opportunities in the country.  He also narrated President Aquino’s economic policies, which he described as robust, and good governance agenda.

Mr. Tom Clark concluded the program by pointing out the Philippine Government's successful economic policies, especially in terms of fiscal discipline and consolidation. "The Philippines' case is a good model to follow," he said.

APCAC members pose with officers of the Philippine Embassy for a photo opportunity following the presentation on the improving economic climate in the Philippines by Economic Officer Angelito Nayan at Romulo Hall on June 20.  Minister Ariel Penaranda delivered the opening remarks while APCAC Head Tom Clark concluded the program.

The APCAC was founded in 1968 as a way for the 28 American Chambers (AmChams) of Commerce in the Asia-Pacific region to address issues of mutual concern and share best practices. APCAC AmChams represent the growing interests of over 50,000 executives and over 10,000 businesses in the region. The APCAC membership encompass trade volumes in excess of US$ 400 billion and direct investments(FDI) of nearly $300 billion. APCAC's mission is to improve the competitiveness of U.S. business in the Asia-Pacific region. END