This year, the awaited Asia Pacific Council of American Chambers of Commerce (APCAC) 2018 Business Summit, was held in Malaysia at the KLCC Convention Centre.

This year, the two-day convention saw hundreds of business and government leaders from across the Asia Pacific and the United States. 

APCAC is an association of 28 American Chambers of Commerce from across in the Asia Pacific and representing 15,000 companies and 10 million employees with an estimated USD 620 billion in annual FDI management and more than USD 1 trillion in annual trade. 

Its chairman Jackson Coxsaid that the time is right and Malaysia is the perfect location for this year’s APCAC Spring Business Summit.

“American business in Asia represents hundreds of billions of dollars in annual trade and investment throughout the region and is represented by countless partnerships that reinforce the deep commitment that the U.S. has in Asia. 

“I could not imagine a better place than Malaysia for us to gather at this important time to discuss ways to chart an even stronger path forward,” said Cox.

Ramzi Toubassy, president of the American Chamber of Commerce in Malaysia (AMCHAM Malaysia) said that it is more important than ever that business and government representatives forge partnerships and develop strategies to navigate the current economic environment.

“Doing nothing in these challenging times is not an option. 

We need to work together with our trading partners in Asia to foster open and integrated economic structures. And we need to leverage on existing and new regional initiatives in the region that leverages America's competitive advantages. 

“The Summit is a great opportunity for all participants to work together to accelerate our efforts to build strong partnerships,” said Toubassy.

Siobhan Das, the organiser of the event and AMCHAM’s executive director said Malaysia is the most appropriate location to have such critical discussions.

“Malaysia has bilateral and regional FTAs with many countries across the Asia Pacific, including China, Japan, Korea, Australia, India, and others. 

“It is also strategically located to serve as a gateway to Asia, to help American companies tap into the regional economic opportunities. 

“The APCAC Summit is a great platform to kick-start these discussions and explore opportunities,” said Das. 

“Malaysia is proof positive of how US investments can be successfully deployed and help to develop the talent pool, transfer knowledge and build a strong ecosystem for a mutually beneficial business environment,” added Das.

Dr Richard R. Vuylsteke from the Hawaii based East-West Centre said that Asia matters for America

“Just under 30% of American goods and services exports go to Asia; there has been a 100% increase in US investment in Asia and Asian investment in the US in a decade.

“Essentially, the relationship between the US and Asia will be the biggest single determinant in the development of the global economic system,” said Dr Vuylsteke.

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

AMCHAM Malaysia is an active member of APCAC representing 260 American, and Malaysian companies with strong American ties.

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