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U.S. Reaffirms Engagement to Asia Through Increased Trade and Business Partnerships

SINGAPORE, March 13, 2015 /PRNewswire/ -- U.S. Ambassador to Singapore Kirk Wagar has reiterated America's and American business' engagement in Asia through increased economic cooperation, helping the region reach its economic goals, create jobs, develop infrastructure and enable new domestic enterprises.

Speaking at the 2015 APCAC Business Summit, an annual meeting of American chambers of commerce across Asia-Pacific, hosted this year by the American Chamber of Commerce in Singapore (AmCham), Ambassador Wagar addressed continued U.S. interest in Asia, supporting the region's growth through expanded trade engagement and increased U.S.-Asian business partnerships.

"The expanded trade engagement and our enhanced military cooperation with allies and strategic partners in the region underscore the U.S. government's commitment to building a bright future in this region on all fronts -- economic, cultural, political, and security. 

"In Southeast Asia, projections for rapid urbanization and a swelling middle class means there will be significant infrastructure needs as well as increased demand for consumer goods. U.S. companies are optimistic.  And, through your tradition of clean business practices, inclusive hiring, and prioritization of corporate social responsibility, I know you will ensure that brand USA is associated with mutual benefit," said Ambassador Wagar, in his keynote address at the Summit this morning.

Minister Lim Hng Kiang, Ministry for Trade and Industry, Singapore, who also delivered his keynote address this morning, emphasized the importance of the U.S. relationship with countries like Singapore. "The U.S. and Singapore enjoy a long partnership and American companies have made significant contribution to Singapore's economic development. The evidence of our strong economic relationship is all around us. Today, the U.S. is our largest foreign direct investor with investment stock worth US$154 billion. There are over 3,660 American companies present in Singapore; some of whom have grown with us, while others are just starting out," Minister Lim said.

Held at the Marina Bay Sands Expo and Convention Centre, this year's summit of the Asia-Pacific Council of American Chambers of Commerce (APCAC) was attended by more than 450 private-sector executives, diplomats and government leaders from the region. APCAC represents over 15,000 companies in the region, employs over 10 million people, manages annual trade volumes in excess of US$400 billion, and contributes direct investments of over US$300 billion.

For media enquires please contact:
Edelman Singapore on behalf of American Chamber of Commerce, Singapore
James Cook - james.cook@edelman.com
Nitha Sri - Nitha.sri@edelman.com
+65-6733-1110

Source: The American Chamber of Commerce in Singapore
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