News / Asia

Clinton Talks Trade, Investment, Not Burma at the ASEAN Summit

U.S. Secretary of State Hillary Rodham Clinton delivers her speech during ASEAN Business and Investment Summit held on the sidelines of the Association of South East Asian Nations (ASEAN) Summit in Nusa Dua, Indonesia, November 18, 2011.
U.S. Secretary of State Hillary Rodham Clinton delivers her speech during ASEAN Business and Investment Summit held on the sidelines of the Association of South East Asian Nations (ASEAN) Summit in Nusa Dua, Indonesia, November 18, 2011.

Secretary of State Hillary Clinton is promoting U.S. economic engagement with Asia during the East Asia Summit in Bali. The secretary focused her public remarks on increasing economic ties to the region.

D. Robinson related report:

In an address to a group attending an ASEAN Business Summit, Secretary Clinton spoke about one of the main objectives of the U.S. policy of increased engagement in Southeast Asia, creating more business opportunities and jobs for Americans.

“We each recognize that economic policy is foreign policy and foreign policy is economic policy. And by strengthening diplomacy and presence abroad, we can strengthen our economies back home and actually vice-versa,” Clinton said.

The Secretary of State said while trade between the U.S. and Southeast Asia has tripled over the last 20 years, it still accounts for only 6 percent of U.S. global trade. And with the region home to some of the fastest economies in the world, rich in natural resources and growing domestic markets, the potential for American trade and investment opportunities is great.

The United States however is competing with China to develop southeast Asian markets. ASEAN Secretary General Surin Pitsuwan says China is currently the number one trading partner with ASEAN countries.

"We have already reached $300 billion a year towards trade. I think prime minister of China Wen Jiabao has put the figure at $500 billion for the year 2015, very ambitious, but things seem to be going in the right direction,” Clinton stated.

Secretary Clinton wants more opportunities for American firms to compete in this economic arena and wants ASEAN to reduce trade barriers and apply the same rules to all investors. “We have to start by insisting on economic competition that is open, free, transparent and fair. That means taking on rules that prevent foreign investors from competing with local businesses to produce better goods and services,” she said.

She says the United States is now pushing back on unfair trade practices. She says these efforts have helped increase efforts by the Obama administration to help U.S. companies like construction equipment maker Caterpillar build a new plant in Indonesia, and aircraft manufacturer Boeing secure multi billion dollar deals with Thai Airways and Indonesia's Lion Air.

Clinton says the U.S. supports ASEAN efforts to develop a Trans Pacific Trade Agreement that would create a regional legal frame work for trade and investment and would include standards for worker protections and the environment.

You May Like

Is Air Travel Safe?

Aviation expert says despite tragic losses of Malaysian Airlines flights 370 and 17, industry experienced lowest fatality rate in recorded history last year More

Multimedia 100 Days Later, Nigerian Girls Still Held

Activists holding rallies in Nigeria and several other countries to mark 100th day of captivity for more than 200 schoolgirls being held by Boko Haram More

Chocolate Too Bitter? Swap Sugar for Mushrooms

US food technology company develops fermentation process using mushrooms to reduce bitterness in cocoa beans, believes it will cut sugar content in candy More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US Carriers Suspend Travel to Israeli
X
Carolyn Presutti
July 23, 2014 1:21 AM
The United States is prohibiting American carriers from flying to Israel's airport in Tel Aviv for 24 hours, because of rising violence between Israel and Hamas militants. The action was announced on Tuesday, after a rocket fired by Hamas militants in the Gaza Strip landed near the airport. As VOA's Carolyn Presutti tells us, international officials soon may have to determine which combat zones are too dangerous for commercial flights.
Video

Video US Carriers Suspend Travel to Israel

The United States is prohibiting American carriers from flying to Israel's airport in Tel Aviv for 24 hours, because of rising violence between Israel and Hamas militants. The action was announced on Tuesday, after a rocket fired by Hamas militants in the Gaza Strip landed near the airport. As VOA's Carolyn Presutti tells us, international officials soon may have to determine which combat zones are too dangerous for commercial flights.
Video

Video NASA Focuses on Earth-Like Planets

For decades, looking for life elsewhere in the universe meant listening for signals that could be from distant civilizations. But recent breakthroughs in space technology refocused some of that effort toward finding planets that may harbor life, even in its primitive form. VOA’s George Putic reports on a recent panel discussion at NASA’s headquarters, in Washington.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.
Video

Video Relic of Saint Draws Catholics Worried About Immigration Issue

A Roman Catholic saint who is a figure of devotion for those crossing the border into the United States is attracting believers concerned about the plight of undocumented immigrants. Mike O'Sullivan reports from Los Angeles, where a relic of Saint Toribio has drawn thousands to local churches.
Video

Video US Awards Medal of Honor for Heroics in Bloodiest of Afghan Battles

U.S. combat troops are withdrawing from Afghanistan, on pace to leave the country by the end of this year. But on Monday, U.S. President Barack Obama took time to honor a soldier whose actions while under fire in Afghanistan earned him the Medal of Honor. VOA's Jeff Seldin has more from the Pentagon.
Video

Video Ukraine Rebels Surrender MH17 Black Boxes

After days of negotiations, a senior separatist leader handed over two black boxes from an airliner downed over eastern Ukraine to Malaysian experts early Tuesday. While on Monday, the U.N. Security Council unanimously demanded that armed groups controlling the crash site allow safe and unrestricted access to the wreckage.
Video

Video In Cambodia, HIV Diagnosis Brings Deadly Shame

Although HIV/AIDS is now a treatable condition, a positive diagnosis is still a life altering experience. In Cambodia, people living with HIV are often disowned by friends, family and the community. This humiliation can be unbearable. We bring you one Cambodian woman’s struggle to overcome a life tragedy and her own HIV positive diagnosis.
Video

Video Nature of Space Exploration Enters New Age

Forty-five years ago this month, the first humans walked on the moon. It was during an era of the space race between the United States and the Soviet Union. World politics have changed since then and -- as Elizabeth Lee reports -- so has the nature of space exploration.

AppleAndroid