Pompeo to unveil investment push in Indo-Pacific

02 August, 2018, 13:47 | Author: Edward Snyder
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Pompeo said the USA remains committed "to economic engagement in the Indo-Pacific because of the national security benefits for the American people and our partners".

The U.S. Chamber of Commerce projects that Asian nations have the potential to create 50 percent of global GDP in the coming decades.

When we say "free" Indo-Pacific, it means we all want all nations, every nation, to be able to protect their sovereignty from coercion by other countries.

"This partnership represents our commitment to an Indo-Pacific region that is free, open and prosperous", the three nations said in a joint statement issued on Monday, according to Bishop.

The Digital Connectivity and Cyber security Partnership will use public-private partnerships and technical assistance to support digital infrastructure in the Indo-Pacific.

Last year, President Trump said in Vietnam, the Indo-Pacific is "a handsome constellation of nations, each its own bright star, satellites to none - and each one a people, a culture, a way of life, a home".

"We'll have contracts that are open and transparent".

Secretary of State Mike Pompeo touted plans Monday for a major increase in USA public and private investment across Asia to fund technology, infrastructure and energy initiatives, as China floods the region with its own investment and infrastructure projects.

Hook said Washington welcomed Chinese contributions to regional development, but said it wanted China to adhere to worldwide standards on transparency, the rule of law and sustainable financing.




After the USA withdrawal, trade ministers from the 11 nations that stuck with TPP talks - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam - signed a new agreement in Chile on March 8.

Speaking at the same event, US Commerce Secretary Wilbur Ross said the United States has eased export controls for high-technology product sales to India.

India is a critically important player in the entire scheme of things, she argued, noting that over the years it has emerged as a much more consequential actor in South east Asia.

"We believe in strategic partnerships, not strategic dependency", he said. "We also know that in many areas, including in the digital economy, India is a leader and a pioneer that has a lot of knowledge to share". We want it to be free, we want it to be open.

Pompeo said the United States has signed a $350 million investment compact with Mongolia to develop new sources of water supply.

"And only if countries make themselves welcoming to private investment will those trillions of dollars get off the sidelines, into their economies, and into productive enterprises that bring jobs and prosperity to their peoples", he said.

Biswal refuted the notion that the forum is intended against China. "I think the others are beginning to see that as well", he said.

Under this the United States will support communications infrastructure development through technical assistance and public-private partnerships; promote market-driven digital regulatory policies; and build partners' cybersecurity capacity to address common threats, he said.

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