Member Luncheon with the US Assistant Secretary of Commerce for Global Markets
The Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service, Arun Venkataraman, met with AMCHAM members to discuss the US trade policy priorities and the US-Thailand partnership
On September 20, 2022, at the St. Regis Hotel, 120 American Chamber of Commerce in Thailand (AMCHAM) members joined AMCHAM President, Jeff Nygaard, Executive Vice President of Operations and Technology for Seagate Technology, to welcome the Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service, Arun Venkataraman, at AMCHAM’s Member Luncheon.
Assistant Secretary Venkataraman provided remarks focusing on his mission supporting US companies doing business around the world, and his appreciation of the role of AMCHAM and US companies operating locally as crucial partners to the US government in fostering the economic relationship with Thailand. He further emphasized the objective of his trip to the region as an opportunity to meet with relevant government officials to cement the role of the US in Southeast Asia, a like-minded partner of choice.
On the US policy priorities, Assistant Secretary Venkataraman touched on the Indo-Pacific Economic Framework (IPEF), highlighting the diverse group of partners, its objective to identify core economic challenges for the group to work together, and the need of input from the private sector to determine an effective cooperation approach to address those challenges. Complementary to the IPEF, the Partnership for Global Infrastructure and Investment (PGII) aims to support the developments of low and middle-income countries by better financing and leveraging the private sector’s resources. Lastly, the Trade Winds business forum in March 13-15, 2023 is promoted as an annual flagship US government-led trade mission providing an opportunity for US companies to expand investment in the region, with clean energy and advanced manufacturing as examples of the featured industry sectors.
Participants had the opportunity to take part in the Q & A session which covered various points of members’ interest including the contribution of AMCHAM and its members towards the US policy making process, the importance of global partnership to build supply chain resiliency, and the role of IPEF that goes beyond standard trade agreements.