The US-Asean Business Council is is calling for the Thai government to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the successor to the 11-country pact that President Donald Trump pulled his country out of in 2017.
Commerce Minister Jurin Laksanawisit, who met representatives from the council on Thursday, said US businesses also urged the government to settle negotiations — now nearly four years behind schedule — for the 16-country Regional Comprehensive Economic Partnership (RCEP).
They remarked that Thailand joining the CPTPP would greatly benefit US investors in Thailand, Mr Jurin said.
"American investors would like to know about the government's policies for a modern and digital economy, e-commerce and foreign direct investment promotion," he said.
The US and China won’t be the only ones affected in the trade war raging between the two countries. As companies scramble to find ways around the ever-increasing tariffs that the world’s two largest economies impose on each other’s goods, other countries are being drawn into a conflict that might have no winners.
The world could only watch as the latest developments played out online heading into the weekend. “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing our companies HOME and making your products in the USA,” President Trump tweeted Friday in response to Chinese president Xi Jinping's threat to impose tariffs on $75 billion worth of US goods. Speaking to reporters at the G7 summit in Biarritz, France Sunday, Trump claimed that he could use emergency powers to force private companies to relocate out of China, but said he has no current plans to do so.
(Bali, Indonesia) – Nearly 100 Indonesian SME owners and executives participated in a full-day workshop titled, “Innovation for SMEs Go-Online: Winning the Global Competition” in Bali on August 27. The workshop was conducted by the US-ASEAN Business Council (US-ABC) in close collaboration with Indonesia’s Ministry of Cooperatives and Small and Medium Enterprises (CSMEs).
“We acknowledge that the digital transformation of SMEs can bring tremendous challenges, but more importantly, we see tremendous opportunities for SMEs who harness digital capabilities to expand their businesses,” said Ambassador Michael W. Michalak, US-ABC Senior Vice President & Regional Managing Director, during his opening remarks. “To help work through some of these challenges, we used this workshop to hear from policymakers about programs and opportunities that SMEs can use to become more competitive, such as our ASEAN SME Online Academy.”
(Denpasar, Bali, Indonesia) - In a collaborative effort between government and industry to acknowledge the necessity for an efficient innovative ecosystem, the US-ASEAN Business Council and the Government of Indonesia hosted the First Indonesia Innovation Series August 26 in Denpasar, Bali. The event, in conjunction with the 24th National Technology Awakening day, acknowledged the rapid digital transformation of today’s age and provided forward-looking inclusive strategy to build on this digital transformation. The event is also being held back to back with the Council’s SME workshop on August 27.
During the DPCF, the Council also launched a new report, “Digital Data Governance in ASEAN: Key Elements for a Data Driven Economy,” to provide several recommendations for implementing ASEAN’s Framework on Digital Data Governance.
(Kuala Lumpur)- From August 20-22, the US-ASEAN Business Council led a delegation of 20 leading U.S. global companies to Kuala Lumpur, Malaysia. The mission is part of the Council’s continued effort to position member companies as partners and stakeholders committed to Malaysia’s dynamic and inclusive growth. The delegation met with top Malaysian government officials to understand ways in which the U.S. business community can support the government’s top goals and key initiatives, including the Industry4WRD national policy. The mission also discussed Malaysia’s objectives and potential theme for its 2020 Chairmanship of Asia-Pacific Economic Cooperation (APEC).
(Bangkok) -- From August 13-16, the US-ASEAN Business Council led a delegation of 46 leading American companies on the Council's annual Thailand Business Mission. Nearly 100 senior executives from a variety of industries met with recently re-elected Prime Minister Prayut Chan-o-cha, as well as newly appointed Cabinet members, senior Government officials, and key stakeholders in Thailand.
This mission was the Council’s largest single delegation to any ASEAN country in its 35-year history and served as companies’ first critical opportunity to engage with the new coalition Government following Thailand’s first general election in eight years.