Pompeo to unveil investment push in Indo-Pacific

Glen Norman
August 2, 2018

Announcing the initiatives at an open forum of the US Chamber of Commerce business group in Washington on Monday, Secretary of State Mike Pompeo said the US was seeking a "free and open" Asia without domination by any one country.

"These funds represent just a down payment on a new era in U.S. economic commitment to peace and prosperity in the Indo-Pacific region".

Pompeo mentioned Bangladesh's first-ever satellite launching with the SpaceX and said U.S. companies literally help Indo-Pacific partner nations reach for the stars.

"It is clearly in America's strategic interest to deepen engagement in the region", the Secretary of State said.

He asserted that it is clear a big part of America's worldwide economic future is in the Indo-Pacific.

The United States first outlined its strategy to develop the Indo-Pacific economy at an Asia-Pacific summit a year ago.

"Later this week, I will make further announcements on security assistance", Mr Pompeo said.

The $113m package of economic initiatives are a "down payment in peace" for the region and an apparent message for China.

"Access Asia" is a series of 25 trade promotion outreach events in cities across the USA that is sequential, multi-year, data and opportunity driven, and optimises United States government resources, it said.

"I would say previous year and a half of this administration has been a great deal of focus on deepening economic, security and diplomatic ties between the United States in India".

Trump pulled the USA out of the proposed Trans-Pacific Partnership with Australia, New Zealand and nine other nations just three days after moving into the White House. That is why the Indo-Pacific must be free and open.

When asked about Pompeo's remarks, Chinese Foreign Ministry spokesperson said the International Monetary Fund has its own standards and regulations when cooperating with related countries.

"The United States, Japan and Australia have formed a trilateral partnership to mobilize investment in projects that drive economic growth, create opportunities, and foster a free, open, inclusive and prosperous Indo-Pacific", according to the statement. "It's high-quality, it's transparent and it is financially sustainable", Hook said.

In contrast, Qin believes that the US initiatives on digital connectivity, energy projects, and infrastructure target the needs of this region and will foster fair and reciprocal relationships, with U. "The fact is that we demonstrate consistently that Australia is very focused on making sure we can help the least-developed economies in our region".

This will start with a $25 million initial investment to improve partner countries' digital connectivity and expand opportunities for United States technology exports. But Pompeo did not offer any outline of specific diplomatic partnerships with like-minded countries or companies that would leverage U.S. funding for bigger impact.

Pompeo also announced strengthened support for regional institutions in the Indo-Pacific, including the ASEAN and US-ASEAN Connect, APEC, and the Lower Mekong Initiative, along with a first-ever contribution to the Indian Ocean Rim Association.

Other reports by

Discuss This Article