US firms bullish on Asean despite TPP exit

The logo of Indonesia's central bank, Bank Indonesia, is seen in Jakarta, Indonesia January 19, 2017. (Reuters file photo)

WASHINGTON: American business enthusiasm in Southeast Asia is bent but far from broken even as the region grapples with a new trade framework and less US government involvement, according to a survey by the American Chamber of Commerce in Singapore.

80% of executives see their firms’ level of trade and investment in the Association of Southeast Asian Nations, or Asean, rising over the next five years, with just 3% seeing it decreasing. Respondents were most upbeat about Indonesia (92%) and Vietnam (86%). They’re optimistic about sales, too, with 56% expecting higher profits this year compared with 2016.

Even though the US pulled out of the Trans-Pacific Partnership -- a regional agreement that would’ve given Asian nations from Japan to Malaysia preferential access to the US -- the American business lobby group is encouraging the 11 remaining members to push ahead with the accord.

The content shown above is only a small part of the full content, which we reserve for Bangkok Post digital archive subscription members. Please log in or subscribe to get the full content.


Back to top