Asean urges clarity in US trade policies

KUALA LUMPUR: Asean businesses urge that the current US administration provide more clarity and certainty in trade policies for the benefit of mutual growth in the US and Asean.

The statement follows a gathering of over 70 senior corporate executives, government officials, and diplomats from seven countries namely Indonesia, Malaysia, Singapore, Vietnam, US, Denmark, and Russia at a roundtable discussion themed “Dealing with a changing world order: What will Trump’s economic and foreign policies mean for Asean?” organised by CIMB Asean Research Institute (Cari) yesterday.

The participants of the roundtable highlighted their concerns about US President Donald Trump’s possible protectionist policies, while speakers also discussed how the new administration’s policies could negatively impact business and investment in Asean and the region’s economic integration.

“US trade relations with China and other partners are still largely undefined. Business requires certainty to operate and thrive, especially when the Asean Economic Community is at a nascent state with teething issues. We urge Trump to continue engaging with Asean in order to forge mutually beneficial trade ties,” Cari chairman Tan Sri Dr Munir Majid said.

Munir, who is also president of the Asean Business Club, chaired the roundtable. Speakers were Cari chief economist Dr Arup Raha, senior vice-president and regional managing director at the US-Asean Business Council Michael W. Michalak, former ambassador of Malaysia to China Datuk Abdul Majid Ahmad Khan and Cari senior fellow Tunku Zain Al ’Abidin.