Formoso new chairman of Asia Pacific Retail organization first for Philippines
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Formoso becomes the first Filipino to chair this Asia Pacific Federation. The FAPRA consists of the recognized national retail trade organizations in 18 member-economies – Australia, China, Chinese Taipei, Fiji, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, Turkey, and Vietnam.Formoso, COO of Duty Free Philippines, has assumed the FAPRA chairmanship from Mehmet T. Nane, chairman of the Turkish Council of Shopping Centers and Retailers and CEO of CarrefourSa, who formally turned over the Federation’s leadership to him during elaborate ceremonies at the recently concluded Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 that Manila hosted last October. The APRCE is the biggest and longest running retail industry event in the region.
“As a veteran in the retail industry and being the concurrent president of PRA, we are confident Formoso’s chairmanship of FAPRA would be very productive. We are sure he will guide the FAPRA in the same way he ably shepherded the PRA,” the PRA Board said.
Formoso also sits in the board of the Asia Pacific Travel Retail Association.
Turkey held the FAPRA chairmanship for two years – from 2013, the year it hosted the APRCE, to 2015, the year the Philippines hosted it. The Chairmanship of FAPRA devolves to the immediate past host of the APRCE.
The Philippines chairs the FAPRA until 2017.
The FAPRA was founded in 1989. It has implemented various initiatives and programs designed to develop itself and promote information exchanges and sharing experiences and concerns towards the development of the retail industry and improving the retailers’ status and the welfare of their clients in the region.
As new FAPRA Chairman, Formoso now presides over the Federation’s policies and programs aimed at helping promote the growth and development of retailing in the Asia Pacific region.
Questions & Answers
Q.What is FAPRA's primary mission?
What is FAPRA's primary mission?
FAPRA implements initiatives and programs designed to develop itself, promote information exchanges, and share experiences. Its goals include developing the retail industry, improving retailers' status, and enhancing clients' welfare in the region.
Q.How long will the Philippines hold the FAPRA chairmanship?
How long will the Philippines hold the FAPRA chairmanship?
The Philippines will hold the FAPRA chairmanship for two years. Lorenzo C. Formoso assumed the role following the Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 in October, and will chair FAPRA until 2017.
Q.What role does the APRCE host nation play in FAPRA leadership?
What role does the APRCE host nation play in FAPRA leadership?
The host nation of the Asia Pacific Retailers Convention and Exhibition (APRCE) automatically assumes the FAPRA chairmanship. This means the chairmanship devolves to the immediate past host of the event.
Q.Which retail organisation does Lorenzo C. Formoso represent in the Philippines?
Which retail organisation does Lorenzo C. Formoso represent in the Philippines?
Lorenzo C. Formoso is the president of the Philippine Retailers Association (PRA). He also serves as the Chief Operating Officer of Duty Free Philippines and sits on the board of the Asia Pacific Travel Retail Association.
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