Threats of trade war drives keen interest in US-Asia Business Summit

KUALA LUMPUR: Business leaders from across the Asia Pacific are being urged to join together to find a path through what’s been described as a “perfect storm” of unprecedented global trade and investment uncertainty.

The US Chamber of Commerce says a two-day business summit in Kuala Lumpur next month will be critical for developing an effective response to the trade and economic uncertainty and fears of a trade war.

About 350 business and government leaders from across the region are expected to take part in the Asia Pacific Council of American Chambers of Commerce summit (APCAC 2018) from April 4 to 5.

The senior director in the US Chamber’s Asia Department, John Goyer, says there are deep concerns about US trade and investment policy and changes in trading relationships across Asia.

“This is the perfect storm where the only thing that is certain is that there’s a great deal of uncertainty,” Goyer said.

“But what is important to remember is that Asia remains vital for American business interests - our companies want to be here and invest so it’s vital we come together and plan how to respond to this unfolding situation.”

Summit organiser and executive director of the American Chamber of Commerce in Malaysia (AMCHAMMalaysia), SiobhanDas, said that amidst the uncertainty there are opportunities.

“Asia remains the fastest growing region in the world and that won’t change any time soon – we need to embrace the opportunities that arise from such growth,” Das said.

Conference speakers include Coca-Cola, Thailand A sean director Lovella Adams, IBM, Australia vice president Stephen Braim, AirAsia chief executive officer (CEO) Tan Sri Tony Fernandez, US Chamber, Washington DC senior vice president Charles Freeman, ExxonMobil, Malaysia CEO and president Edward Graham, Honeywell president South East Asia Briand Greer, Caterpillar Inc executive director Asia-Pacific Government and Corporate Affairs Jeffrey Hardee, GE, Malaysia CEO Datuk Mark Rosario, World Bank Group lead economist Dr Richard Record and AmMetLife, Malaysia CEO Ramzi Toubassy.

The theme of this year’s summit is Charting a Bold Future: US Businesses in the Asian Century.

APCAC (Asia Pacific Council of American Chambers) is an association of 29 American Chambers of Commerce from across in the Asia Pacific and representing 15,000 companies and 10 million employees with an estimated US$620 billion in annual foreign direct investment (FDI) management and more than US$1 trillion in annual trade.

The American Malaysian Chamberof Commerce(AMCHAM) was founded in 1978 and comprises nearly 1000 members representing American, Malaysian and other international companies with strong ties to the US.