Foreign Affairs Secretary Teodoro Locsin, Jr. on Thursday invited the
United States-Asean Business Council (USABC) to resume business
missions to the Philippines as soon as possible to help jumpstart the
country’s economy.
The top diplomat said investments to the Philippines will “effectively
support the country’s post-pandemic recovery efforts”.
USABC President and Chief Executive Officer Ted Osius, for his part,
noted that there is huge potential for growth in Southeast Asia, with
US companies looking at opportunities for diversification in the
region, particularly on supply chains.
The Philippine Embassy in Washington DC said Manila remains open to
opportunities for collaboration in the energy, manufacturing,
telecommunications, information technology, and business process
management sectors, all with an eye towards sustainability.
Locsin met with Osius on Thursday during his working visit to the US
to mark the two nations’ 75 years of diplomatic relations.
The two further discussed ways to expand the three-decade-old
partnership between the Philippines and the USABC, while noting the
latter’s role in ensuring that US businesses find a reliable trade and
investment partner, and hub for their regional operations in the
Philippines.
Locsin likewise underscored that President Rodrigo Duterte’s decision
to restore the Visiting Forces Agreement (VFA) puts the relationship
between Washington DC and Manila back on track and restores the
security balance in the Asia-Pacific region.
In turn, Osius said USABC members lauded the chief executive’s
decision as it gives “fresh impetus” to further broaden the two
nations’ engagement, especially in the economic sphere.
