NextGen Day

MANILA – The recent US-Asean Special Summit’s success sends a strong message of pressing for deeper economic engagement between the US and ASEAN member nations, particularly in terms of additional jobs and investments for the Philippines.

The special summit, which was hosted by US President Joe Biden in Washington, D.C. on May 12 and 13, saw the US commit to strengthening and expanding its engagement with Asean member nations, according to the Philippine Embassy in the US.

In an interview, the Embassy stated, “Consistent with the Embassy’s message, this broader economic engagement enhances the signals to American companies and industries that now is the perfect moment to invest in the Philippines.”

According to the statement, the US-Asean relationship focuses on a wide range of issues, including political and security cooperation, combating global pandemics like Covid-19, and developing people-to-people ties.

According to the Embassy, US assistance and investment, notably in the areas of the clean energy transition, including nuclear energy, and sustainable infrastructure, will help transform communities and promote equitable economic growth in the country.

“As more alternative energy sources become available, Filipinos will benefit from lower electricity rates.” Furthermore, “digital transformation will benefit our general populace by making conducting business easier and more supportive for Filipino micro, small, and medium firms,” according to the Philippine Embassy.

It went on to say that a modern Philippine digital economy will provide for greater market access not only within the Philippines but also throughout the Asean region.

“As a member of Asean and a long-standing ally of the United States, the Philippines stands ready to work closely with both the United States and its fellow Asean countries to achieve the many benefits that may be garnered from this strengthened engagement,” the Embassy stated.

In a joint resolution, the US-Asean Special Summit committed to continuing cooperation in order to promote trade and investment while also facilitating resilient global supply chains and seamless regional connectivity, including for essential goods like medical supplies, medicines, vaccines, food and agricultural products, commodities, high-tech products, and other essential supplies and services, all of which contribute to the region’s long-term economic recovery and resilience.

“We aspire to enhance our engagement on transportation connectivity, including air, land, sea, and transport facilitation programs, to advance sustainable infrastructure development and support emerging technologies, including electric vehicles,” the Joint Vision Statement stated.

SCS: Sea of Harmony

Meanwhile, the joint resolution reaffirmed the significance of fully implementing the Declaration on the Conduct of Parties in the South China Sea (DOC), which was signed by Asean member states and China in 2002, as both sides continue to negotiate a Code of Conduct (COC) for the disputed waters.

“Given that a significant portion of global maritime trade passes through the South China Sea, both Asean and the United States recognize the benefits of having the South China Sea as a sea of peace, stability, and prosperity, and thus underscore the need to reduce tensions and the risks of accidents, miscalculations, and misunderstandings in the area,” the Embassy said.

Noting that the United Nations (UN) General Assembly Resolution A/RES/75/239 emphasizes the universal and unified character of the 1982 UN Convention on the Law of the Sea (UNCLOS) in the preamble, Asean and the US emphasized the importance of the 2002 DOC’s full and effective implementation.

“In the South China Sea negotiations, we highlighted the need of maintaining and promoting an environment conducive to the Code of Conduct.” The resolution stated, “We encourage additional efforts toward the early conclusion of an effective and substantial COC in accordance with international law, including the 1982 UNCLOS.”

We underline the importance of practical actions that might decrease tensions and the danger of accidents, misunderstandings, and miscalculations, according to the statement. We emphasized the significance of pursuing confidence-building and prevention steps to improve trust and confidence among parties, among other things. We also emphasized the importance of pursuing peaceful dispute resolution in conformity with internationally accepted international law norms, including the 1982 UNCLOS.

The White House reaffirmed its “enduring commitment to Southeast Asia and stresses the importance of Asean-US cooperation in achieving security, prosperity, and respect for human rights” at the first US-Asean Special Summit in Washington.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---