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    US pitches $90-B investments
    in Southeast Asia
    By Estrella Torres
    Reporter

    THE United States sees stronger economic ties with the members of the Association of Southeast Asian Nations (Asean) as shown by the US$90-billion US private-sector current investments in the 10 members of the regional bloc.

    US Deputy Secretary of State John Negroponte said that through the enhanced Asean market, the bloc is rapidly growing and becoming a dynamic investment destination in the world.

    “We continue to be strong economic partners. Our two-way trade reached $168 billion last year, making Asean America’s fourth-largest trading partner,” said Negroponte at the Asean-US bilateral meet during the Asean Post-Ministerial Conference held at the Philippine International Convention Center (PICC).

    He said the US sees stronger trade ties with the regional bloc through the US-Asean Trade and Investment Framework signed in 2006, which established regular and formal dialogue on trade and investment matters.

    Negroponte emphasized that the US relations with the Asean is a vital platform to push through its security agenda in the East Asian region, including the denuclearization in the Korean peninsula.

    “The US considers its relations with Asean as critical component of its dealings with East Asia as a whole. We want to deepen our partnership with you, both individually and collectively to help build a better future for our people,” said Negroponte.

    Meanwhile, Negroponte lauded the democratic ideals of rule of law, good governance and respect for human rights and freedom reflected in the final draft of the Asean charter that was submitted to foreign ministers by the High Level Task Force.

    The US official noted the stronger role of Asean in supporting democracy in the region as he cited the “significance of the statement of Asean leaders on their shared vision to achieve peace, stability, democracy and prosperity in the region.”

    “We also applaud the Asean EPG’s [eminent persons group] recommendations to your leaders to strengthen democratic values, good governance, the rule of law and respect for human rights and freedom as fundamental principles and objectives in the Asean Charter,” said Negroponte.

    He stressed that the US intends to strengthen its engagement and deepen its ties with the region as the two parties celebrate 30 years of bilateral ties.

    “Today we will review progress on the enhanced partnership announced by President Bush and Asean leaders in November 2005. [It’s] the plan of action that  Secretary [Condoleeza] Rice and many of you signed in Kuala Lumpur last year toward the road map for  implementing the enhanced partnership,” said Negroponte.

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