Remarks by Alan J. Fohrer
delivered as Chairman
US-Philippine Business Committee

Introducing Her Excellency Gloria Macapagal Arroyo
President of the Republic of the Philippines

November 20, 2001
The Willard Hotel
Washington, D.C.

As prepared for delivery

Madame President, Senator Lugar, Your Excellencies, members of the US and Philippine business community. I am Al Fohrer, the President and CEO of Edison Mission Energy and the Chairman of the US-Philippine Business Committee. It is my honor to introduce the President this evening.

Senator Lugar has spoken eloquently of the changes the Philippines have seen over the last few decades. One thing has not changed is the bonds of friendship between our two nations. They remain strong and constant. In fact, I believe that our meeting here tonight, and this important visit by the President, will be in the first pages of a new chapter in Philippine-American history. The chapter is one whose theme is renewed commitment and deepening engagement between two countries who share values and vision. We can see that message coming out of the meeting today between President Bush and President Macapagal Arroyo. The onus falls on us, in this room, to take action to cement our ties and move forward together.

I know all of us want to thank you, Madame President, for your early leadership and ready action to support the fight against terrorism in the wake of the attacks of September 11. You were the first in Asia to respond. You have led ASEAN's response, and you have gone further than most in taking action to address this issue, so crucial to world peace and stability. President Macapagal Arroyo we thank you for those efforts.

We organized the program tonight to provide a forum for you to address the American people, particularly the business and policy communities. Tonight, we honor your work. And we honor the team you have assembled in your Cabinet. Rarely is a country so blessed, as the Philippines is, to have a President with a PhD in economics, and a Cabinet with more degrees from Harvard, MIT and the Ivy League than the Board of most investment banks. Your vision for attacking poverty, enhancing productivity, and embracing reform deserves our respect and our proactive support.

In a speech shortly after her inauguration, President Macapagal Arroyo said, “We aspire to show the world that before this decade is out we will not only conquer poverty but lead the way among our peers in tapping into the opportunities of the world’s new economy. Foreign businessmen, be with us in this mission.”

We ARE with you, Madame President! The members of the US ASEAN Business Council have a combined investment of $7 billion dollars and just today my colleagues announced an additional $2 billion in new investment commitments. The Vice Chairman of the US Philippine Business Committee and I, Gary Benanav of New York Life announced today that we will lead a major business mission to Manila and Mindanao in April next year. President Macapagal-Arroyo we are with you in your mission and we will stick by you as you have stuck by us.

Ladies and gentlemen, please join me in welcoming the President of the Republic of the Philippines, Gloria Macapagal Arroyo ...