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

Captured IS Militants Explain Why They Fought

Fighters from Turkey, Syria tell VOA Kurdish Service what drew them to extremism, jihad More

Security Experts Split on Kenyan Barrier Wall

Experts divided on whether initiative aiming to keep out al-Shabab militants is long-awaited solution or misguided effort More

Video Philippines Wants Tourists Spending Money at New Casinos

Officials say they hope to turn Manila into the next Macau, which has long been Asia’s gambling hub 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.
Liberia's Almost Last Ebola Patient Grateful but Still Grievingi
X
Benno Muchler
March 26, 2015 3:41 PM
Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Liberia's Almost Last Ebola Patient Grateful but Still Grieving

Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Cambodian Land Grabs Threaten Traditional Communities

Indigenous communities in Cambodia's Ratanakiri province say the government’s economic land concession policy is taking away their land and traditional way of life, making many fear that their identity will soon be lost. Local authorities, though, have denied this is the case. VOA's Say Mony went to investigate and filed this report, narrated by Colin Lovett.
Video

Video US, South Korea Conduct Joint Military Exercises

The Eighth U.S. Army Division and the Eighth Republic of Korea Mechanized Infantry Division put on a well orchestrated show of force for the media this week during their joint military training exercises in South Korea. VOA’s Seoul correspondent Brian Padden was there and reports the soldiers were well disciplined both in conducting a complex live fire exercise and in staying on message with the press.
Video

Video Space Program Status Disappoints 'Last Man on the Moon'

One of the films that drew big crowds last week at the annual South by Southwest festival in Austin, Texas, tells the story of the last human being to stand on the moon, U.S. astronaut Eugene Cernan. It has been 42 years since Cernan returned from the moon and he laments that no one else has gone there since. VOA’s Greg Flakus reports.
Video

Video Young Filmmakers Shine Spotlight on Giving Back

A group of student filmmakers from across the United States joined President Barack Obama at the White House this month for the second annual White House Student Film Festival. Fifteen short films were officially selected from more than 1,500 entries by students aged 6 through 18. The filmmakers and their families then joined the president and a group of celebrities for a screening of their films. VOA’s Julie Taboh reports.
Video

Video VOA Exclusive: Interview with Afghan President Ashraf Ghani

Afghan President Ashraf Ghani, during his first visit as president to Washington, gave a one-on-one interview with VOA Afghan Service reporter Said Suleiman Ashna, about his request for a change in U.S. troop levels, the threat from the Islamic State, and repairing relations with the United States and Pakistan. The interview was held at Blair House, late Sunday, in Pashto.
Video

Video California Science Center Tells Story of Dead Sea Scrolls

The ancient manuscripts were uncovered in the mid-20th century, and they are still yielding clues about life and religious beliefs in ancient Israel. As VOA's Mike O'Sullivan reports, an exhibit in Los Angeles shows how modern science is bringing the history of these ancient documents to life.
Video

Video Angelina Jolie Takes Another Bold Step

Hollywood actress and filmmaker Angelina Jolie has revealed she had her ovaries and fallopian tubes removed to lower her odds of getting cancer. Doctors say the huge publicity over her decision will help raise awareness about the importance of cancer screening. VOA’s George Putic has more

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More