Chamber Report: Business Opportunities Abound in Southeast Asia

But Regional Reforms and Stronger U.S. Focus Are Needed

SINGAPORE-Southeast Asia is a region of enormous economic opportunities for American companies, the U.S. Chamber of Commerce said in a new report released by President and CEO Thomas Donohue here today.

"Southeast Asia is America's fourth largest trading partner, and our trade in the region supports 800,000 U.S. jobs," Donohue said. "The Chamber's goal is to expand America's presence here and compete for the business of the region's 600 million consumers."

Donohue outlined the report's findings and recommendations during a speech to the American Chamber of Commerce in Singapore. Donohue's trip to Southeast Asia this week also includes stops in Jakarta, Indonesia and the Asia Pacific Economic Cooperation (APEC) summit in Hanoi, Vietnam.

The Chamber's report, which was drafted in cooperation with its American Chambers of Commerce partners in the region, urges Southeast Asian countries to speed up trade liberalization and tariff reductions, and increase protection and enforcement of intellectual property rights. Governments should also establish predictable investment rules while opening financial services markets and the energy sector to foreign participation.

The Chamber is also calling on the U.S. government to broaden and strengthen its ties in the region, placing a heightened focus on commercial objectives even as it pursues further cooperation on health and security concerns. "President Bush's upcoming visit to Southeast Asia and participation in the APEC summit in Hanoi is a positive and meaningful step," Donohue said.

Donohue said the Chamber is putting more resources into Southeast Asia, increasing its staff expertise, and stepping up its advocacy with governments throughout the region.

The U.S. Chamber is the world's largest business federation, representing more than three million businesses and organizations of every size, sector, and region.

Editor's Note-Read the study online here.

www.uschamber.com

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