US-ASEAN Business Council launches its first ASEAN committee

FE Team | Published: August 15, 2011 00:00:00 | Updated: February 01, 2018 00:00:00

MANADO, Aug 14 (Xinhua): The US-ASEAN Business Council (ABC) expanded its commitment to Southeast Asia yesterday by launching its first official ASEAN Working Committee. The new committee was set up during the US-ABC's annual delegation to the 43rd ASEAN Economic Ministers' Meeting (AEM) and related meetings held here this week. The committee, chaired by Sam Kim of Procter & Gamble, will channel US private sector support for ASEAN economic integration and capacity building for ASEAN and its member states. Indonesia's Trade Minister Mari Elka Pangestu, this year's AEM chair, informed the representatives of the council that the AEM and the US Trade Representatives (USTR) have agreed to organize a road show to the US to promote ASEAN to the US business community, as well as an ASEAN-US Business Forum next year. "It is crucial to include both government and business sectors in such initiatives to strengthen and deepen economic integration between ASEAN and the United States. The Business Forum is expected to focus on the selected business sectors in which ASEAN and the US have mutual interests," Minister Mari said. The council announced the formation of the committee during its dialogue with the AEM and the USTR deputy, Ambassador Demetrious Marantis. The Council is the only US-based organization which attends the ASEAN Economic Ministers Meeting every year. "This is a crucial moment for ASEAN," said Kim. "The ASEAN member states have recognized the work they need to do to break down barriers to trade in the region, and have laid some impressive groundwork. The key now is for ASEAN to continue successfully implementing its plans for greater integration, which includes executing the ASEAN Single Window, the Logistics Roadmap, and harmonizing standards throughout the region. The US-ASEAN Business Council's ASEAN Committee will organize the US private sector's support for these efforts." He added that "The US investments in ASEAN also help create conducive environment for the small- and medium-size enterprises ( SMEs), too." Secretary-General of ASEAN Surin Pitsuwan said at least six companies of 20 US companies based in ASEAN have established ASEAN department or business units. This underscores the importance of ASEAN to the US companies. Surin also urged the US companies to share their success stories in doing business in ASEAN and promote them through media. "ASEAN's successful integration will create a single market of 600 million people, making it the world's third largest market, " said Council President Alexander Feldman.