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US remains Asean's important partner despite uncertainties

The United States remains an important partner for Asean despite the uncertainties created by the US administration and the region should continue to use all avenues, including ambassadors and trade and investment framework agreements (Tifa), as a basis to engage the US.

International Trade and Industry Minister Mustapa Mohamed suggested that Asean ambassadors, at their annual meeting in Washington DC, to take stock of all economic measures announced and implemented by the US administration under President Donald Trump.

"Analyse the impact of the economic policies on Asean trade, investment, tourism and overall economic relations," he told a press conference in Kuala Lumpur today.

Malaysia, he said, proposed collective policy response by Asean on the new policies introduced by the US administration.

"Asean economic ministers should also continue to hold regular dialogues with the US-Asean Business Council to gather feedback as well as from US companies on their views to remain engaged in the region," he said.

Mustapa said Asean should continue to promote free and fair trade and cooperate on building an open world economy which would ensure growth and sustainability in the region.

"All Asean representatives in Washington DC are recommended to step up work and activities in promoting Asean's interest in Washington," he added.

The US is a major investor in Asean with over 1,500 American companies operating in the region.

The grouping exports over US$100 billion (US$1=RM4.4480) of goods, annually, to the US.

From 2010-2015, American companies invested US$76.6 billion in Asean, representing 11.2 percent of total foreign direct investment inflow to the region.

- Bernama

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