PRESS RELEASE
WDC-35-2021
8 SEPTEMBER 2021
08 SEPTEMBER 2021, WASHINGTON D.C. – Foreign Affairs Secretary Teodoro L. Locsin, Jr. met today with US-ASEAN Business Council (USABC) President and CEO Ted Osius, during his working visit to the United States to mark the 75th anniversary of Philippines-U.S. diplomatic relations. Secretary Locsin was accompanied by the Philippine Ambassador to the United States Jose Manuel G. Romualdez and other Foreign Affairs officials.
The two discussed ways to further expand the three-decade-old partnership between the Philippines and USABC, noting that USABC has been instrumental in ensuring that U.S. businesses find a reliable trade and investment partner and hub for their regional operations in the Philippines.
Secretary Locsin congratulated Ambassador Osius on his assumption as President and CEO of USABC.
Secretary Locsin underscored that President Duterte’s restoration of the Visiting Forces Agreement (VFA) puts the relationship between the Philippines and the United States back on track and restores the security balance in the Asia-Pacific. In turn, Ambassador Osius said USABC members lauded President Duterte’s decision as it gives fresh impetus to further broaden PH-U.S. engagement, especially in the economic sphere.
Secretary Locsin encouraged USABC to resume business missions to the Philippines as soon as possible, to effectively support the country’s post-pandemic recovery efforts. Ambassador Osius noted that there is huge potential for growth in Southeast Asia, with U.S. companies looking at opportunities for diversification in the region, particularly on supply chains.
Beyond health-related cooperation, the Philippines remains open to opportunities for collaboration in the energy, IT-BPM, manufacturing, and telecommunications sectors, all with an eye towards sustainability. ###