Macroeconomics/Asean-US

Chatrudee Theparat

Talks over ASEAN and the US strengthening ties proposed by Thai PM at the 10th ASEAN-US Summits meeting.

Prime Minister Prayut Chan-o-cha proposed three topics to strengthen the US-ASEAN relationship in the 10th ASEAN-US Summits meeting in Phnom Penh on November 12.

The meeting, chaired by Cambodia’s Prime Minister Hun Sen, had participants from United States President Joe Biden and nine ASEAN members, except for Myanmar. It aimed to boost relationship between ASEAN and the US ranging from the economy, social, security and culture.

Government spokesman Anucha Burapachaisri said this summit meeting was very important because it was appropriate time to revise collaboration among members amid the global crisis in food and energy, the lack of development and the challenges from disasters, global warming and international conflicts.

He said Gen Prayut proposed in the meeting that overcoming those obstacles, the first one is ASEAN and the US should focus on issues on climate-change collaboration in the region, with the hope that the US should play a constructive role to implement the Indo-Pacific Economic Framework for Prosperity (IPEF) to seek solutions from urgent crisis.

Biden launched a new Asia-Pacific trade initiative after his official visit to Japan last May. The founding members of IPEF included the US, Australia, Brunei, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, South Korea, Singapore, Vietnam and Thailand.

The second topic of the talks is economic competitiveness. Gen Prayut proposed the US should promote the development on digital and digital economy, investment in digital infrastructure across the region and the Eastern Economic Corridor (EEC), as well as upgrading competitiveness among entrepreneurs especially very small operators of SMEs, start-ups and female entrepreneurs.

He said Gen Prayut expected that Trade Winds Forum which will be held in Thailand next year will create opportunity for those groups. Trade Winds is the largest US government-led annual Trade Mission and Business Forum. It is a multi-facets program designed to help the US companies achieve growth and exposure in regions and markets all over the world.

The last topic of the talks between the bloc and the US is to strengthen partnership to fight climate change. Gen Prayut appreciated the US attempt to pay attention to the climate change agenda. To achieve the climate problem, the US should encourage financial tools to develop green infrastructure and promote investment in environmentally-friendly industries.

“Thailand which hosts for Asia Pacific Economic Cooperation (Apec) meeting this week which will focus on bio-circular-green (BCG) economy and enhance for inclusive growth and balance to Asia Pacific region. Thailand is keen to support the US which will host for Apec meeting next year.”