Rizal Hall, Malacañang
9 September 2014
President Benigno S. Aquino III welcomed the Philippine Retailers Association (PRA) Board of Directors and the Federation of Asia-Pacific Retailers Association (FAPRA) Heads of Delegations in a courtesy call held in Malacañang.
In his brief remarks, the President shared that in the country’s consumption-driven economy, 12.3% of the gross domestic product (GDP) in the first half of 2014 is accounted to the retail industry. “Imagine then, the wealth of possibilities that lie ahead for all of us, given the extraordinary growth that the Philippine economy has posted in the past four years,” he said.
After 22 years, the Philippines will again host the Asia-Pacific Retailers Convention & Exhibition (APRCE) in 2015 – another venue to show the vast opportunities in the country and to forge stronger relationships with international retailers and suppliers.
PRA is the largest retail organization in the country with over 300 member companies nationwide. It is a member of FAPRA, the regional organization of retailers which implements activities that address issues in the retailing industry and promotes information exchange and friendship among its constituents.
Also present were Trade and Industry Secretary Gregory Domingo, Tourism Secretary Ramon Jimenez Jr., PRA President Lorenzo Formoso and FAPRA Chairman Mehmet Nane.
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