US Deepens Economic Ties With ASEAN

Recognizing that ASEAN is America’s fourth largest trading partner, the United States of America today reaffirmed it commitment to expand and deepen economic ties with Southeast Asian countries,

In his opening plenary address at U.S. – ASEAN Business Forum in Cambodia, Under Secretary Robert D. Hormats

for Economic Growth, Energy, and the Environment says the forum is a great opportunity to continue to strengthen the economic and business ties between the United States and ASEAN.

Mr. Hormats says Secretary Clinton has been a great leader on “economic statecraft,” as the United States recognizes the growing importance of deepening its engagement on economic and business relationships with a very high priority being its relationships in Southeast Asia.

View of Angkor Wat in Siem Reap. Today Angkor Wat is Cambodia’s main tourist attraction and is visited by many tourists from around the world.

He stresses that ASEAN is an economic pillar not only in the East Asian region but increasingly in the global economy as well.

“And we view the region as a highly important priority for U.S. international economic policy.” -Mr. Hormats

Just as the United States developed ever closer economic relationships with Europe in the last century, it wants to develop ever closer economic relationships with ASEAN during the early decades of this century.

“We see ASEAN as important in its own right.” -Mr. Hormats

And the ASEAN Regional Forum was the perfect venue for Secretary Clinton to announce the Asia Pacific Strategic Economic Initiative, which will support an increased and sustained engagement with our key multilateral partners, including ASEAN, Mr. Hormats noted.

From an economic growth perspective, Mr. Hormats says no region of the world is more exciting than Southeast Asia.

He cites that its population is approximately 600 million and the region increasingly is a driver of global growth.

The region’s dynamism leaves considerable additional opportunity for expanding and deepening U.S.-ASEAN economic ties, he added.

He stresses that ASEAN’s ambitious economic development and integration goals along with improving the region’s investment environment also have the potential to dramatically improve the lives of millions of people throughout Southeast Asia, and set a sustainable course for our growing mutual benefit.

It is inherently in America’s interest that ASEAN succeed in its ambitious growth and integration objectives, Mr. Hormats underlined.

“A strong and prosperous ASEAN, with close economic ties to the United States, is a major American policy objective.” -Mr. Hormats

According to Mr. Hormats, the Forum is one small part in US enduring commitment to the region and its institutions.

From the U.S. perspective, Mr. Hormats notes that the forum simultaneously achieves two of President Obama’s top objectives – to strengthen U.S. ties with the ASEAN region and to increase trade flows across the Pacific.

“These objectives are a high priority for Secretary Clinton and our team at the State Department.” -Mr. Hormats

Mr. Hormats notes that in an era of growth and opportunity in Southeast Asia, it is worth pointing out that American companies “make good partners.”

American companies sell innovative, high-quality goods and services that are highly valued, he added.

“Through the continued collaboration of our people, our private sectors, and our governments, I am confident we will be able to build a stronger U.S.-ASEAN relationship in the future.” -Mr. Hormats

Yesterday, with its commitment to deepen partnership with Asian countries, the United States of America underlined that it is elevating its engagement across the board with Asia.

In her remarks today at the U.S.-ASEAN Business Forum

in Cambodia, US Secretary of State Hillary Rodham Clinton says the US government is paying particular attention to ASEAN and Southeast Asia in its agenda to expand partnership.

US is pursuing a economic statecraft and jobs diplomacy agenda to promote sustainable growth and prosperity across the region and, of course.

ASEAN and the United States are large trading partners, Ms. Clinton stressed.

In 2011, the U.S. exports to ASEAN exceeded $76 billion, and that was up 42 percent since 2009.

There is a great deal of potential for continuing to grow their economic activity, she added.

She noted the US wants to do more to deepen its economic partnership.

Cambodia has assumed chairmanship in the upcoming the ASEAN Regional Forum in July 2012.

United States and Cambodia work well together in so many ways.

In the past two years, bilateral relations between the United States and Cambodia have strengthened.

The U.S. supports efforts in Cambodia to combat terrorism, build democratic institutions, promote human rights, foster economic development, eliminate corruption, achieve the fullest possible accounting for Americans missing from the Vietnam War-era, and to bring to justice those most responsible for serious violations of international humanitarian law committed under the Khmer Rouge regime, according to Wikipedia.

The United States is deeply supportive of the connectivity initiative that ASEAN has initiated.

The Association of Southeast Asian Nations or popularly know ASEAN is a geo-political and economic organization of ten countries located in Southeast Asia. It was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. The membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam through the years.

The ASEAN aims include accelerating economic growth, social progress, cultural development among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully.

Mina Fabulous

Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn’t preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.