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

Video Obama Announces Plan to Send 3,000 Troops to Liberia in Ebola Fight

At US Centers for Disease Control and Prevention, Obama details troop deployment and other pieces of US plan More

Video China Muslims Work to Change Perceptions After Knife Attacks

Muslims in Kunming say that they condemn the violence, it is not a reflection of the true beliefs of their faith More

Humanitarian Aid, Equipment Blocked in Cameroon

Move is seen as a developing supply crisis in West Africa 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.
Enviropreneur Seeks to Save the Environment, Empower the Communityi
X
September 16, 2014 2:06 PM
Lorna Rutto, a former banker, is now an ‘enviropreneur’ - turning plastic waste into furniture and fences discusses the challenges she faces in Africa with raw materials and the environment.
Video

Video Enviropreneur Seeks to Save the Environment, Empower the Community

Lorna Rutto, a former banker, is now an ‘enviropreneur’ - turning plastic waste into furniture and fences discusses the challenges she faces in Africa with raw materials and the environment.
Video

Video West Trades Accusations Over Ransoms

As world leaders try to forge a common response to the threat posed by Islamic State militants in Iraq and Syria, there is simmering tension over differing policies on paying ransoms. In the past month, the jihadist group has beheaded two Americans and one Briton. Both countries refuse to pay ransom money. As Henry Ridgwell reports for VOA from London, there is uncertainty in the approach of some other European nations.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.
Video

Video Washington DC Mural Artists Help Beautify City

Like many cities, Washington has a graffiti problem. Buildings and homes, especially in low-income neighborhoods, are often targets of illegal artwork. But as we hear from VOA’s Julie Taboh, officials in the nation's capital have come up with an innovative program that uses the talents of local artists to beautify the city.
Video

Video US Muslim Leaders Condemn Islamic State

Leaders of America's Muslim community are condemning the violent extremism of the Islamic State group in Iraq and Syria. The U.S. Muslim leaders say militants are exploiting their faith in a failed effort to justify violent extremism. VOA correspondent Meredith Buel reports.
Video

Video Americans' Reaction Mixed on Obama Strategy for Islamic State Militants

President Barack Obama’s televised speech on how the United States plans to “degrade and destroy” the group known as the Islamic State reached a prime-time audience of millions. And it came as Americans appear more willing to embrace a bolder, tougher approach to foreign policy. VOA producer Katherine Gypson and reporter Jeff Seldin have this report from Washington.
Video

Video Authorities Allege LA Fashion Industry-Cartel Ties

U.S. officials say they have broken up crime rings that funneled tens of millions of dollars from Mexican drug cartels through fashion businesses in Los Angeles. Mike O'Sullivan reports that authorities announced nine arrests, as 1,000 law enforcement agents fanned out through the city on Wednesday.
Video

Video Bedouin Woman Runs Successful Business in Palestinian City

A Bedouin woman is breaking social taboos by running a successful vacation resort in the Palestinian town of Jericho. Bedouins are a sub-group of Arabs known for their semi-nomadic lifestyle. Zlatica Hoke says the resort in the West Bank's Jordan Valley is a model of success for women in the region.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid