The US-ASEAN Business Council Joins Inaugural Presidential Trade and Investment Mission to the Philippines

The US-ASEAN Business Council, represented by its President and CEO Amb. Ted Osius (ret.), proudly participated in the first of its kind Presidential Trade and Investment Mission (PTIM) to the Philippines. The PTIM, led by Commerce Secretary Gina Raimondo, which took place from March 11 to 12, 2024, marks a momentous collaboration aimed at advancing economic ties between the United States and the Philippines.

As part of the program, the delegates met with key government officials from the Philippine Government led by President Ferdinand Marcos, Jr., Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go, and Department of Trade and Industry Secretary Alfredo Pascual. During the discussions, the US private sector emphasized its readiness to contribute to the development of unprecedented economic opportunities and partnerships between both countries. Furthermore, the delegation met with relevant local firms and business organizations led by the President’s Private Sector Advisory Council (PSAC) to explore strategic collaborations and innovative avenues for trade and investments.

During the second day of the mission, the US-ASEAN Business Council, together with the American Chamber of Commerce in the Philippines (AmCham Philippines), Makati Business Club (MBC), and the Management Association of the Philippines (MAP) co-hosted a breakfast reception for Secretary Raimondo and the PTIM delegates. The breakfast reception was attended by 300+ local stakeholders, demonstrating strong and substantial connections. In his closing remarks, Amb. Osius highlighted that “economic collaboration is a cornerstone of the US-Philippines bilateral relationship. The United States recognizes the immense potential for broader and deeper public-private partnerships for enduring, inclusive, and sustainable economic development.”

Following the breakfast reception, delegates participated in industry-specific roundtables. Together with the US Department of Commerce, through the US Embassy in Manila, the US-ASEAN Business Council organized and moderated the energy and infrastructure roundtables where participants, which included the delegates and representatives from the Philippine Government, international organizations, and the private sector, discussed opportunities in investing further in the said sectors. The mission ended with a lunch send-off at the Ayala Museum.

The recently concluded mission has proven to be a resounding success, fostering economic ties, enhancing investment opportunities, and creating platforms for strategic dialogues. The PTIM was promised by President Joe Biden to President Marcos during the latter’s official visit to the United States in May 2023. The delegation was comprised of 22 senior executives representing American companies – 9 of which are members of the US-ASEAN Business Council.