Asean-US ties benefit both sides, says PM Wong, citing strong trade and investment links
US investment and trade with Asean supports more than 600,000 American jobs
[KUALA LUMPUR] Stability and security create conditions not only for Asean to grow, but also for America and its companies to benefit from being in South-east Asia, said Prime Minister Lawrence Wong on Sunday (Oct 26).
Speaking at the 13th Asean-US Summit where he welcomed US President Donald Trump back to the region, PM Wong said that US investment and trade with the region has supported more than 600,000 American jobs.
With a population of almost 700 million, he said, the bloc is a growing market for American goods and services.
“Our region buys US exports from all 50 states of America – from corn to Boeing planes to... military equipment,” he said.
“In short, the Asean-US relationship is mutually beneficial. It has made our countries safer, stronger, more prosperous. I believe we can do more together,” said PM Wong.
For example, he said that even as Asean continues on its digital transformation journey, there will be opportunities for American companies to grow their software and digital systems, especially when many of these companies already have well-established presence and strong reputations.
A NEWSLETTER FOR YOU
Friday, 8.30 am
Asean Business
Business insights centering on South-east Asia's fast-growing economies.
Beyond the digital economy, PM Wong highlighted Asean’s efforts to build out the Asean Power Grid, and welcomed American companies to help with the process.
In his speech, PM Wong spoke about the importance of the US for the “peace, stability and prosperity for the world and for our region”, and how Trump has demonstrated this with his leadership.
This includes his role in de-escalating the border tensions between Cambodia and Thailand, securing a plan to end the Gaza conflict and his personal attention to combatting online scams and drugs.
As for the US’ role in South-east Asia, PM Wong described the region as one that has historically been geographically fragmented and unstable.
“But it was America’s actions, sacrifices and efforts that contributed to South-east Asia’s peace and stability, and we will never forget these sacrifices,” said PM Wong, adding that America’s continued actions and leadership that will enable South-east Asia to thrive.
In his remarks, Trump said the US is with the “nations of South-east Asia… 100 per cent, and we intend to be a strong partner for many generations”.
Asean-Japan relations
PM Wong also spoke at the 28th Asean-Japan Summit, attended by Japan’s newly elected Prime Minister Sanae Takaichi.
With Singapore being Asean’s country coordinator for Japan, he reaffirmed the bloc’s appreciation for Tokyo’s steady support of Asean centrality and regional security, and called for deeper economic ties amid global uncertainty.
He said that upgrading the Asean-Japan Comprehensive Economic Partnership would reflect new growth areas and signal both sides’ commitment to a free and rules-based multilateral trading system.
PM Wong also welcomed Japan’s cooperation in advancing Asean’s digital transformation and green transition – from leveraging its technological strengths through the Digital Economy Framework Agreement, to supporting the Asia Zero Emission Community, which seeks carbon neutrality in the Asia region.
He said Japan can further advance these efforts through initiatives such as the Japan-Asean Integration Fund, which backs Asean’s community-building and integration projects, and the Initiative for Asean Integration, which aims to narrow development gaps and deepen regional integration among Cambodia, Laos, Myanmar and Vietnam.
Japan can also support Asean’s efforts to build the Asean Power Grid through its expertise and the participation of its private-sector companies to help develop the critical infrastructure and regulatory frameworks, he added.
On the sidelines of the Asean summit, PM Wong met with several global leaders to strengthen partnerships in trade, sustainability and technology.
He discussed deepening cooperation in trade and the digital economy with European Council President Antonio Costa; explored opportunities in innovation, sustainability and Asean-Africa ties with South African President Cyril Ramaphosa; and reaffirmed collaboration on climate action, carbon markets and sustainable fuels with Brazilian President Luiz Inacio Lula da Silva.
Copyright SPH Media. All rights reserved.
