Singapore , Nov. 15 – Samdech Techo Hun Sen, Prime Minister of Cambodia, urged the US to promote trade volume between ASEAN-US, as the US is the world’s largest economy, speaking at the 6th ASEAN-United States (US) Summit, held on 15 November 2018 in Singapore.
The Summit was chaired by H.E. Lee Hsien Loong, Prime Minister of the Republic of Singapore and attended by all Heads of State/Government of ASEAN Member States and H.E. Michael Richard Pence, Vice President of the United States of America. The Secretary-General of ASEAN was also in attendance.
Samdech Techo Hun Sen noted the progress of Trade and Investment Framework Arrangement and Expanded Economic Engagement (E3) Initiatives Work Plan.
The premier also said that cooperation between the US and ASEAN in the fields of innovation, economy, digital commerce, tourism and information technology allows ASEAN and the United States to achieve the Sustainable Development Goals.
He added that building human resources, especially youth, is indispensable. He urges further supports from the United States, providing more scholarships to ASEAN young people to continue their higher educations.
All the leaders adopted the Chairman’s Statement of the 6th ASEAN-US Summit; ASEAN-US Leaders’ Statement on Cybersecurity Cooperation; and 2018-2019 ASEAN-US Trade and Investment Framework Arrangement.
US is ASEAN’s third largest trading partner with a total two-way trade of USD 233 billion in 2017 while Foreign Direct Investment (FDI) flows from the US to ASEAN amounted to USD 5.4 billion in the same year, placing the US as ASEAN’s fourth largest external source of FDI.
