US, ASEAN to Intensify Economic Partnership: Obama

Jakarta, Feb 16 (Antara) - US President Barak Obama opened the US-ASEAN Summit on Monday at Sunnylands in Rancho Mirage in California by asserting that his country and the ASEAN will continue to increase economic partnership. "Together, we can continue to increase trade and economic partnerships that help to create jobs and opportunities for our people," Obama stated in his opening remark. The US president noted that since assuming office, he has boosted trade between the United States and ASEAN by 55 percent. "The region is now our fourth-largest goods trading partner, including US exports that support more than 500 thousand American jobs," Obama noted. Further, he pointed out that US companies have been the largest source of foreign investment in the ASEAN, which is one of the several reasons that the region's GDP has surged in recent years and helped to lift people from poverty into the middle class. "I want to take this opportunity to again congratulate my fellow leaders on the formation of the ASEAN Community, which is another important step toward integrating your economies. Here at this summit, we can build on this progress and do more to encourage entrepreneurship and innovation, so that growth and development is sustainable and inclusive and benefits all people," he affirmed. Obama said that the US and ASEAN can together also continue to enhance their security cooperation to meet shared challenges. In recent years, the United States has increased maritime security assistance to its allies and partners in the region, improving its mutual capabilities to protect lawful commerce and to respond to humanitarian crisis. "Here at this summit, we can advance our shared vision of a regional order where international rules and norms, including freedom of navigation, are upheld and where disputes are resolved through peaceful, legal means," he added. ***2***