Association of Southeast Asian Nations (ASEAN)

Association of Southeast Asian Nations (ASEAN)

The United States has a robust and fast-growing trade and investment relationship with the Association of Southeast Asian Nations (ASEAN). Collectively, the ten members of ASEAN (Brunei Darussalam, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam) represent a market with a combined GDP of more than $2.2 trillion and a population of 620 million people. Since 2006, we have worked together under the auspices of a Trade and Investment Framework Arrangement (TIFA) to further enhance trade and investment ties and promote ASEAN regional integration. In August 2012, Ambassador Kirk and ASEAN trade ministers agreed on an updated program of TIFA activities for 2013.

Expanded Economic Engagement Initiative (E3) 

On November 19, 2012, President Obama and the ten ASEAN Leaders elevated the ASEAN-United States trade and investment relationship by welcoming the launch of the U.S.-ASEAN Expanded Economic Engagement (E3) initiative, a new framework for economic cooperation designed to expand trade and investment ties between the United States and ASEAN, creating new business opportunities and jobs in all eleven countries. Under E3, the United States and ASEAN are working together to identify specific cooperative activities to facilitate U.S.-ASEAN trade and investment, increase efficiency and competitiveness of trade flows and supply chains throughout ASEAN, and build greater awareness of the commercial opportunities that the growing U.S.-ASEAN economic relationship presents. In so doing, cooperation on E3 activities will help to lay the groundwork for ASEAN countries to prepare to join high-standard trade agreements such as the Trans-Pacific Partnership (TPP) agreement if they wish to do so in the future. The E3 agenda will include joint activities on investment principles, information and communications technology principles, trade facilitation, standards development and practices; developing open and transparent business environments for SMEs, and trade and the environment. 

U.S.-ASEAN Trade Facts 

In 2012, U.S. goods trade was $198 billion, up from $145 billion in 2009, making ASEAN the fourth largest U.S. export market and fifth largest overall trading partner. 

In 2011, trade in services with ASEAN countries totaled $30 billion, with exports of $19 billion and imports of $11 billion, giving the United States an $8 billion services trade surplus with the ASEAN countries. 

U.S. foreign direct investment in the ASEAN countries exceeded $159 billion in 2011, led by investments in manufacturing, finance and insurance, and nonbank holding companies.