APCAC 2018: A Bold Future for US Businesses in Asia
Regional AmChams heard from a range of business, government and academic leaders in two-day conference
Thursday, April 12, 2018
One of the most anticipated business summits has wrapped up with new resolve for business engagement between Asia and the United States, despite recent announcements on international trade and tariffs.
Some 330 leading business, government, diplomatic and academic figures from more than 12 countries across Asia and the US met in Kuala Lumpur Malaysia for the 2018 APCAC (Asia Pacific Council of American Chambers of Commerce) Business Summit.
AmCham Indonesia’s Managing Director, A Lin Neumann, moderated a panel at the event; Board President Brian Arnold and Executive Director Sarah Howe also attended.
The Chairman of APCAC, Jackson Cox, said the conference was important in creating connections and deepening business engagement in what is the fastest growing region of the world.
“It has been a great week in Kuala Lumpur as we have met to chart a bold future for US business in Asia. I am optimistic that the future of American business here will remain strong and I will be forever grateful to the hosts for putting together such a successful event,” he said.
Summit organizer and Executive Director of the American Malaysian Chamber of Commerce, Siobhan Das, said she was particularly encouraged by the address of Malaysia’s Minister for International Trade and Industry, Dato’ Sri Mustapa bin Mohamed.
“The Minister acknowledged the important contribution US businesses have made to Malaysia over many years and indicated the government’s commitment to continue that positive engagement.”
Across the Asia Pacific, total US Foreign Direct Investment stood at about USD850 billion at the end of 2016.
“This is an important annual event for AmChams across the region,” said Neumann. “It shows the collective strength and relevance of the AmChams as the voice of American business in the region 365 days a year and 24 hours a day.”
During an internal meeting, APCAC’s members took steps to deepen its institutional presence in the region and expand its collective impact.
Delegates heard from a range of business, government and academic leaders throughout the two-day conference discussing a range of issues including an in depth look at what the Asian Century means, some of the challenges of Asia for US companies, smart cities, the impact of emerging technologies on the global supply chain, energy challenges, cybersecurity, infrastructure and Association of Southeast Asian Nations (ASEAN) and regional trading frameworks.
APCAC is an association of 29 American Chambers of Commerce from across the Asia Pacific and representing 15,000 companies and 10 million employees with an estimated $620 billion in annual FDI management and more than $1 trillion in annual trade.