||Asean Affairs 20 June 2013
US-ASEAN Business Council Releases Policy Paper Ahead of CEO Mission
(Washington D.C.) The US-ASEAN Business Council today released a statement of priorities policy paper calling for a coordinated economic strategy which reinforces the U.S. commitment to an integrated ASEAN. The policy paper was initiated by Evan Greenberg, the Chairman and CEO of ACE Group, when he took on the role of Chairman of the Council’s Board of Directors earlier this year. The ten nations of ASEAN represent over 620 million people and $2.2 trillion of GDP, host the largest amount of U.S. FDI in Asia, and represent the United States’ 5th largest trading partner and 4th largest export market.
The paper recognizes ASEAN’s growing importance to U.S. businesses and lays out actions that need to be taken to ensure continuing success for U.S. business in Southeast Asia. Developed by a committee of senior executives, along with the support of three former U.S. Ambassadors to ASEAN countries, the paper focuses on the fundamental need to address constraints on expanding two-way trade and investment flows through a set of coordinated actions by the U.S. business community, the U.S. government, and ASEAN nations that will reinforce the U.S.-ASEAN relationship and encourage shared growth in the years ahead. The paper focuses on the most vital priorities for U.S. business in ASEAN, including the desire for higher-level engagement, the importance of greater ease in travel between the U.S. and ASEAN, and the need for the U.S. to articulate a clear strategy for creating a free trade agreement that includes all 10 ASEAN nations.
“Given the robust growth of ASEAN’s middle class and expanding private sector, the U.S. needs focused action in order to successfully meet the challenge of growing competition for the ASEAN market”, said Mr. Greenberg. “The policy paper enumerates priorities for U.S.-ASEAN engagement. The U.S. business community, through its Council, is committed to raising our engagement with ASEAN.”
To download the full Council Policy Paper, please click here.
To download the executive summary, please click here.
To download the appendix to the paper with further information, please click here.