Kuala lumpur: The United States (US) sees significant opportunities to align its interests with ASEAN in promoting reciprocity and balance in the global trading system, said US Trade Representative Jamieson Greer. He noted that Washington welcomed ASEAN’s statement in April to approach US initiatives through dialogue and mutual understanding, emphasizing that this commitment had been evident in ongoing discussions over the past few months.
According to BERNAMA News Agency, Greer highlighted that, under President Donald Trump’s leadership, productive conversations took place regarding improving market access, removing non-tariff barriers, addressing unfair trade practices, and strengthening economic and national security cooperation. Some of these discussions have already resulted in agreements, while others are nearing completion in the coming weeks and months.
Meanwhile, AEM Chair Tengku Datuk Seri Zafrul Abdul Aziz underscored the significance of the partnership, noting that in 2024, total trade between ASEAN and the US reached a record US$453 billion. The US emerged as the region’s top export market, with ASEAN exports to the US surging to US$312 billion, marking nearly a 16 percent increase from the previous year, adding approximately US$42 billion in just one year.
Moreover, Tengku Zafrul highlighted the US as ASEAN’s largest source of foreign direct investment in 2024, with inflows exceeding US$42 billion. He stated that this investment is not just financial capital but also a clear vote of confidence in ASEAN’s future and the opportunities the region provides.
Tengku Zafrul further explained that the AEM-US Consultation agenda builds on this solid foundation, focusing on reviewing the ASEAN-US Trade and Investment Framework Agreement (TIFA) and the Expanded Economic Engagement work plan, endorsing the 2025-2026 work plan, and exchanging views on major challenges affecting the global economy. As Chair, he expressed confidence that the consultation would set a clear direction for the next phase of ASEAN-US cooperation, particularly amidst evolving supply chains, digital transformation, and the global push for sustainable growth.