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In 2023, trade in goods between ASEAN and the U.S. reached USD 395.9 billion, accounting for 11.2% of ASEAN's total trade value. This achievement has positioned the U.S. as ASEAN’s 2nd largest trade partner.
(KPL) In 2023, trade in goods between ASEAN and the U.S. reached USD 395.9 billion, accounting for 11.2% of ASEAN's total trade value. This achievement has positioned the U.S. as ASEAN’s 2nd largest trade partner.
ASEAN and the United States have long enjoyed strong economic cooperation, with deep ties in trade and investment.
The U.S. recorded approximately USD 74.4 billion in Foreign Direct Investment (FDI) across ASEAN member countries, representing 32.4% of total foreign investment in ASEAN in 2023.
These statistics were reported during the ASEAN Economic Ministers and United States Trade Representative Consultation, held under the theme "ASEAN: Enhancing Connectivity and Resilience" in Vientiane on September 20, 2024.
The meeting was co-chaired by Mr. Malaythong Kommasith, Minister of Industry and Commerce of Laos, and Ms. Sarah Ellerman, Assistant United States Trade Representative for Southeast Asia and the Pacific. The discussions focused on three strategic areas: economic connectivity and integration, inclusive and sustainable development, and the use of digital technologies to enhance economic ties and trade in the region.
Minister Malaythong noted that the meeting emphasized exchanging views on regional and global economic development, reviewing the progress of economic cooperation plans, trade, and investment between the two regions, and considering the adoption of joint statements from the consultation. He expressed hope that ASEAN-U.S. trade and investment ties will continue to strengthen, especially as both regions implement economic cooperation and investment strategies in the coming years.
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