US-ASEAN BUSINESS COUNCIL EXPRESSES CONFIDENCE IN ARROYO.

MANILA, Nov 1 Asia Pulse - The US-ASEAN Business Council has reaffirmed its full confidence in the leadership of President Gloria Macapagal-Arroyo and her commitment to reforms that are expected to strengthen the business climate in the Philippines.

In his letter to the President, Walter Lohman, acting president of the Council, said, "business interest in the Philippines is growing."

"We are quite optimistic about the opportunities for trade and investment in the Philippines. We are very appreciative that in you we have found such a willing and enthusiastic partner," he said.

Lohman also expressed elation over the progress of the Business Framework Agreement (BFA) that American business executives represented by the Council had earlier discussed with the President. "We are pleased with BFA's progress and are happy to get to work on the deliverables ahead. We are committed to our work in complementing your leadership with private sector support," he said.

The Council met last September 14-16 with its Philippine counterpart, the US-Philippines Business Council, and discussed a broad range of issues concerning the power sector, on capital market development, free trade, trade and investment framework, customs modernization, biotechnology and port security.

The 43-member delegation from 20 big corporations in the United States was the biggest business group ever to visit the Philippines. President Macapagal-Arroyo addressed the group during its three-day meet.

Members of the business delegation represented such leading US companies as Boeing, East Asia Power, El Paso Energy International, FedEx, Flour Corporation, Ford Motors Company, Philip Morris Asia Ltd., Microsoft Corporation, Oracle Corporation, Quezon Power (Philippines) Limited, Unisys Corporation, Tyco Integrated System and UPS.