MANILA, Philippines – The Philippines now takes the leadership role in charting the development direction of the Federation of Asia Pacific Retailers Associations (FAPRA) in the next two years with the recent assumption of Philippine Retailers Association (PRA) president Lorenzo Formoso as its new chairman.
Formoso, COO of Duty Free Philippines, is the first Filipino to chair FAPRA.
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, Singapore, Thailand, Turkey, Vietnam and the Philippines.
“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.
The Philippines chairs the FAPRA until 2017.
Founded in 1989, the FAPRA 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 presides over the Federation’s policies and programs aimed at helping promote the growth and development of retailing in the Asia Pacific region.