2017 APCAC Business Summit in Guangzhou, China
From April 19 till 22, the Asia Pacific Council of American Chambers ( APCAC) held its annual business summit in Guangzhou, China. The four- day event brought together more than 600 business and industry leaders, policy experts, and top government officials from the U. S., China, and from across the Asia Pacific region. More than 100 international expert speakers were on hand to speak on issues of common concern to the American business community in the region, including areas of opportunity for investments in the Asia Pacific.
This year’s Business Summit was hosted by Amcham South China and held in conjunction with the U. S- China Investment Cooperation Forum. Co- hosted by the Department of Commerce of Guangdong Province, the keynote speech was delivered by Yu Jianhua, Vice Minister of Commerce of the People’s Republic of China and Deputy China International Trade Representative. Other remarks were delivered by Chargé d’affaires ad interim of the U. S. Embassy in Beijing, David H. Rank; U. S. Consul General in Guangzhou, Charles Bennett, and other distinguished guests.
The topics of discussion included finance, investment, tourism, immigration and the new U. S. administration. The panel discussions featured speakers from the China International Fair for Investment and Trade ( CIFIT) Organizing Committee, Government of Guam, Walmart, HSBC, Amway, Citigroup, Duff & Phelps, AIG, Paypal, Withers Worldwide, KKR, and others.
TRADE, TAXES AND TRAVEL
Held on the sidelines of the Summit was the annual APCAC Board meeting attended by representatives of each chamber. Myron Brilliant, Executive Vice President and Head of International Affairs at the U. S. Chamber of Commerce, briefed the APCAC leadership on the current environment in Washington, DC and provided an assessment of U. S. President Donald Trump’s trade and economic policy. In preparation for issues to be delivered at the June Doorknock in Washington, DC, the APCAC Board focused on the themes of Trade, Taxes and Travel including:
1. Trade - Re- engagement of the U. S. with the Asia Pacific region in some form of Free Trade Agreement to include positive elements of the now- defunct TPP. This is crucial to ensure that U. S. trade and investment in the region continue to be part of Asia’s engine of growth; 2. Taxes - Continue to urge the Administration to review taxation policies for U. S. citizens oversees to allow for a level playing field with other countries; Travel - Urge the re- authorization of legislation for the APEC Business Travel Card ( ABTC) which is due to expire in 2018.
Additionally, Jackson Cox ( AMCHAM Thailand and Mongolia) was re- elected to his third term as Chairman.
Established in 1968, APCAC represents 29 American Chambers of Commerce from 22 economies in Asia Pacific; 20,000 member companies; 50,000 overseas American executives; 10 million employees; USD 620 billion in annual foreign direct investment ( FDI) management and USD 1 trillion in annual trade.
The APCAC Business Summit is hosted each spring by an APCAC member AmCham. The annual summit attracts corporate and government leaders from across the region and provides a valuable platform for dialogue on key issues, networking and business development.
Newly re- elected APCAC Chairman Jackson Cox, Executive Vice President and Head of International Affairs at the U. S. Chamber of Commerce Myron Brilliant, and APCAC Executive Director Adam Sitkoff