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BUSINESS

US investments in SEA countries creates better economic interaction - analyst

11/05/2022 03:15 PM

KUALA LUMPUR, May 11 (Bernama) -- The United States’ (US) investments and trade in Southeast Asian (SEA) countries would be a boon for economic interaction, said Singapore Institute of International Affairs senior fellow Dr Oh Ei Sun. 

He said many SEA countries are looking to secure US investments during the two-day ASEAN-US Special Summit, especially after battling the aftermath of the COVID-19 pandemic in the past two years. 

“If the US is trying to make us (SEA countries) to be more pro-US, then I think more investments with the region will be a good move,” he said during Bernama TV’s ‘The Brief’ news programme today. 

Oh also said that the summit, slated to start on Friday (Malaysian time), will likely discuss China-US relations and the geopolitical tension between Russia and Ukraine. 

He opined that the US is likely to push the region to adopt a more stringent stand against Russia with regard to the war in Ukraine. 

ASEAN leaders, with the exception of the Philippines and Myanmar, are scheduled to participate in the special summit.

Subsequently, a Joint Vision Statement -- which would underscore the commitments and aspirations to enhance ASEAN-US partnership in the interest of peace, stability, security and shared prosperity for all -- can be expected following the conclusion of the high-level meeting.

The special summit marks the 45th anniversary of the ASEAN-US dialogue and the second special summit hosted by a US president in the US after then-president Barack Obama welcomed ASEAN leaders in California back in Feb 2016.

Prime Minister Datuk Seri Ismail Sabri Yaakob will lead the Malaysian delegation to the ASEAN-US Special Summit in Washington D.C. from May 12 to 13.

Malaysia is expected to garner RM14.62 billion in new investments from the US following the Trade and Investment Mission led by Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.

-- BERNAMA

 


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