Latest news with #AmCham
Korea Herald
3 days ago
- Business
- Korea Herald
AmCham, MOFA director discuss public-private ties for APEC summit
The American Chamber of Commerce in Korea announced Wednesday that it hosted a policy gathering with Kim Ji-hee, Director-General for International Economic Affairs at the Ministry of Foreign Affairs, to explore avenues for public-private cooperation ahead of the 2025 Asia-Pacific Economic Cooperation Summit in Korea, scheduled for October. The event was part of the institution's policy talks series, aimed at providing a valuable platform for senior policymakers and industry leaders to engage in dialogue on pressing issues affecting the US-Korea economic alliance. 'The government's ongoing efforts to engage the business community are crucial,' Kim said, 'to ensure Korea's APEC agenda delivers tangible results across the region.' She emphasized Korea's commitment to inclusive public-private collaboration through APEC's unique mechanisms, such as the APEC Business Advisory Council, while detailing a range of initiatives spanning digital transformation, artificial intelligence, biotechnology, health care and SME development. US business leaders in sectors including IT, biotechnology and energy voiced strong support for Korea's APEC initiatives, particularly those focused on artificial intelligence and demographic change. While outlining the Korean government's strategic vision and key priorities for the upcoming APEC Summit, Kim also shared updates on the Third Senior Officials' Meeting and Economic Leaders' Week. AmCham Chairman and CEO James Kim remarked that the summit would allow Korea to demonstrate global leadership amid rising geopolitical tensions and rapid technological change. 'With digital innovation, supply chain resilience, and regulatory reform emerging as top priorities, this year's APEC platform presents a powerful opportunity to strengthen public-private collaboration,' he said. 'As a proud member of the APEC CEO Summit Task Force, AmCham is committed to working closely with the Korean government and the Korea Chamber of Commerce and Industry to ensure Korea's host year delivers meaningful outcomes that advance the shared interests of both the US-Korea economic partnership and the broader Asia-Pacific region,' he added.
Russia Today
19-06-2025
- Business
- Russia Today
US companies want to return to Russia
American businesses welcome the Trump administration's efforts to renew dialogue with Moscow, in hopes that they can return to the Russian market, the head of the American Chamber of Commerce in Russia (AmCham), Robert Agee, has told RT. The AmCham has supported President Donald Trump's efforts to restore relations with Russia since he assumed office in January, and has called on Washington to ease the sanctions on Russia for months. 'It's better to have good business relations between Russia and the United States,' Agee told RT on Wednesday at the St. Petersburg International Economic Forum (SPIEF 2025), adding that '70% of our businesses four years ago looked upon Russia as a strategic market.' The companies that remained in Russia after 2022, despite the sanctions imposed by the US and its allies over Russia's military operation in Ukraine and pressure from Washington, ended up benefiting in the long run, according to the AmCham chief. 'Consumer good companies, confectionary producers, pharmaceutical and medical equipment suppliers… all those companies have stayed, and they're very active and they're very successful,' he said. Those who left are 'watching and waiting,' hoping for a thaw in US-Russia relations, according to Agee. He added that 'a number of companies' could start returning to Russia following a meeting between Trump and Russian President Vladimir Putin. Putin said on the sidelines of the SPIEF that US businesses have shown interest in returning to the Russian market. Contacts between Russian and American companies are being renewed, giving cause for 'cautious optimism,' he told journalists late Wednesday. Putin added that he hopes Trump will assess US policies towards Russia not just as a politician, but as a businessman, and will take into account the costs and benefits of various approaches. Izvestia reported last month that the Russian parliament was set to pass legislation that would regulate the right of foreign companies to reclaim assets sold during their exit from the country. The bill would allow the authorities or current owners of the assets to reject buybacks under certain conditions.
Korea Herald
17-06-2025
- Business
- Korea Herald
AmCham wraps up 2025 Washington Doorknock with push for deeper US-Korea economic ties
The American Chamber of Commerce in Korea said Tuesday it successfully concluded its 2025 Washington Doorknock from June 9 to 12, marking a major private-sector engagement with the US under Korea's new administration. Led by Chairman and CEO James Kim, the AmCham delegation held nearly 40 meetings with government officials, lawmakers and policy experts. Key discussions took place with officials from the Departments of the Treasury, Commerce, State, Energy and Defense; the US Trade Representative, the National Security Council and the Office of the Vice President. Bipartisan congressional outreach included meetings with four US senators and seven House representatives. The delegation emphasized Korea's intent to strengthen the US-Korea economic partnership, highlighting President Lee Jae Myung as a leader with a strategic vision and the ability to execute it. The meetings underscored shared priorities, including enhanced cooperation in semiconductors, AI and advanced manufacturing, as well as the importance of energy security and addressing trade barriers. The delegation also called attention to Korea's position as the top foreign investor in the US and urged continued progress on tariff negotiations and non-tariff barrier reduction, particularly in digital trade. AmCham proposed joint initiatives such as LNG collaboration through Alaska's energy resources. 'The Doorknock was a timely platform to address core issues shaping US-Korea relations,' said Chairman and CEO James Kim. 'We found broad consensus on the need for practical cooperation in strategic sectors.' Senior executives from companies such as AWS, Google, Hyundai, LG CNS and POSCO participated, signaling strong private-sector support for advancing bilateral ties. The outcomes of the visit will be discussed in greater detail at the AmCham–Korea Times Forum on June 24.
Japan Times
10-06-2025
- Business
- Japan Times
Taiwan moves thwart foreign defense firms: American Chamber of Commerce
Changes that Taiwan made to rules for defense cooperation with foreign companies might discourage them from working with the archipelago, an American business group says — a view that comes just as China's military shows off some key advances. A policy that was tweaked last year "presents several challenges that risk undermining Taiwan's attractiveness as a defense market,' the American Chamber of Commerce in Taiwan said in a paper on Tuesday. It added this could slow procurement and undercut the incentive for foreign firms to invest in Taiwan. AmCham said "the rules are unclear about what kind of investments or technology-sharing companies are expected to provide in return for defense contracts,' calling on Taipei to safeguard commercial viability to encourage long-term spending on its defense industrial base. The paper provides a glimpse of some of the difficulties Taipei faces as it tries to field a military that can deter China's much more powerful forces. Taiwan is keen to work with the U.S. on weapons production, hoping to ensure a more stable flow of advanced arms to the archipelago. Last year, Taiwan changed its Industrial Cooperation Policy, dropping a requirement that foreign defense firms invest 40% of a contract value into the domestic economy in favor of a discretionary, case-by-case model. Both versions of the policy are intended to ensure that overseas companies invest in areas the Taiwan government deems important while also providing for some tech transfers. Officials in Taipei have watched as the U.S. focused on arming Ukraine in its fight against Russia in recent years. That may change somewhat under U.S. President Donald Trump, who reportedly plans to ramp up weapons sales to Taiwan to a level exceeding the pace set during his first term. Beijing has escalated military pressure on Taiwan since President Lai Ching-te came to office last year, holding an unprecedented number of military exercises around the democracy of 23 million. Beijing says Taiwan is its territory and has threatened to use force to take control of the self-governing archipelago. Some experts have said those drills show China is capable of blockading Taiwan, shutting it off from key shipments of energy for an extended period. China's military appears to be getting more formidable in other ways. Over the weekend, one of its carriers operated deeper into the Pacific Ocean than ever before. Also, last month Pakistan said the use of its Chinese J-10C fighters helped shoot down Indian fighters during a confrontation — challenging the notion that China-made weapons are inferior to Western arms. India has downplayed Pakistan's claims about the effectiveness of weaponry deployed from China and other countries, saying that its military was able to conduct precision airstrikes deep in Pakistani territory. AmCham also said in its report that Lai's pledge to raise defense spending to more than 3% of gross domestic product was "pragmatic' given cross-strait tensions. While campaigning for president the second time, Trump suggested the archipelago should devote 10% of GDP to its armed forces — comments that align with his push for NATO members in Europe to bear more of the costs of collective defense. The chamber also called for clarifying regulations covering Chinese components used in the defense industry. It suggested classifying parts depending on where they were made and whether they contained Chinese subcomponents or raw materials. The recommendations come as Taiwan continues to seek a trade deal with the U.S., which has threatened a 32% tariff on its goods.
Independent Singapore
09-06-2025
- Business
- Independent Singapore
Sparks fly in Shanghai as U.S. and China clash over trade tensions
SHANGHAI: At a prestigious event commemorating the 110th anniversary of the American Chamber of Commerce (AmCham) in Shanghai on Friday, U.S. and Chinese representatives openly disagreed over the state of economic relations between the world's two largest economies. Sharp exchanges highlight strained relations According to the latest Reuters report, Scott Walker, Consul General of the U.S. Consulate in Shanghai, denounced China for maintaining an 'unbalanced and non-reciprocal' relationship that has unfairly disadvantaged American industries operating on Chinese soil. 'We want an end to discriminatory actions and retaliation against U.S. companies in China,' Walker stated, setting the tenor for an edgy negotiation. With an instantaneous reaction, Chen Jing, a senior Shanghai Communist Party bureaucrat and president of the Shanghai People's Association for Friendship with Foreign Countries, dismissed Walker's comments as 'prejudiced' and 'ungrounded,' stressing that they were not consistent during the latest phone call between Presidents Trump and Xi Jinping. This verbal sparring highlighted the continuing friction amid a delicate economic collaboration. Trade war pressures and diplomatic overtures The fiery discussion comes on the heels of a highly anticipated phone call between President Donald Trump and Chinese President Xi Jinping, intended to resolve weeks of escalating trade tensions. The leaders purportedly decided to continue the negotiations following disagreements over essential 'rare earth' minerals—vital elements in contemporary technology—that threaten to disrupt a tentative ceasefire. Notwithstanding a 90-day tariff rollback arrangement inked in May, larger problems remain unsettled. Washington blames Beijing for breaching the terms, while industries face an uncertain future amid the volatility of U.S.-China relations. The festering trade conflict continues to loom over both nations, with businesses caught in the line of fire. Businesses seek certainty amid uncertainty Talking to reporters during the event, Eric Zheng, President of AmCham Shanghai, articulated the disappointment and annoyance felt across the business community. With more than 1,000 member companies, AmCham embodies a substantial percentage of American commercial interests in China. Zheng disclosed that numerous corporations have investments and operational decisions pending, expecting stronger signals from both governments. See also Poll: Trump's approval rating at all-time high 'Our number one ask from the two governments is to give us some certainty so that we can plan accordingly,' Zheng said. 'People are looking for some more definitive, durable statements on both sides that enable businesses to feel more secure.' As U.S.-China economic ties remain edgy, American establishments in China are hoping for stability to protect their future growth, and for the pomposity to simmer down in favor of productive collaboration.
