US Trade, Investment Poised to Spike in Southeast Asia, Says Chamber of Commerce
Nearly 90 percent of U.S. companies operating in Southeast Asia anticipate increased trade and investment flows over the coming five years, said the U.S. Chamber of Commerce and the American Chamber of Commerce in Singapore in a late August report,…
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citing survey findings. Respondents said customs deficiencies, corruption, insufficient transparency and poor infrastructure remain concerns, however. Trans-Pacific Partnership participants in the Association of Southeast Asian Nations (ASEAN) are poised to reap the largest benefits of increased trade in the future, said the chamber report. The trade pact continues to face challenges associated with a lack of consensus in many outstanding areas, but President Barack Obama has targeted the coming months to strike agreement (see 14081105). Thirty-one percent of those company executives surveyed run manufacturing companies, and an additional 14 percent are involved in non-services related industries, the chamber said. Indonesia and Vietnam were rated as the top ASEAN countries for U.S. company trade and investment expansion, said the report.