Australia, Japan join U.S. infrastructure push in Asia

Australia, Japan join U.S. infrastructure push in Asia

Australia, Japan join U.S. infrastructure push in Asia

According to Jonathan Swan of Axios, who received a briefing on the speech on Sunday, the Trump administration is seeking to convince USA partners in the "Indo-Pacific" region that a bolstered trade relationship with the United States is the best long term play for their interests. Those investments will be focuses on technology, energy, and infrastructure projects, the secretary of state confirmed.

The move comes nine months after the Trump administration openly spoke against the "predatory economic policies of an Asian giant" that threatens to eat into the sovereignty of countries in Indo-Pacific, which has now emerged as a critical engine for growth.

Pompeo said the United States will initially invest a Dollars 25 million to improve partner countries' digital connectivity and expand opportunities for U.S. technology exports.

On Saturday in Singapore, he will meet foreign ministers of East Asia Summit member states - Asean plus Australia, China, Japan, India, New Zealand, South Korea and Russian Federation.

WASHINGTON-Secretary of State Mike Pompeo said Monday the U.S.is committed to growing trade and investment in Asia, while assuring potential strategic and trade partners the USA wanted partnership, not domination.

The Indo-Pacific is a huge region, stretching from the west coast of the United States to the west coast of India, as Pompeo put it.

USA infrastructure cooperation with Japan and Australia would dovetail with the Trump administration's evolving national security policies, which have cast the U.S.as in "long-term, strategic competition" with China and Russian Federation.

The Overseas Private Investment Corporation, the USA government's development finance institution, also released a statement of cooperation with Japan and Australia.

"We know that America's model of economic engagement is the healthiest for nations in the region".

"Because our allies and our partners are essential to our goals in the Indo-Pacific, we want to expand economic investment and development", Hook said in a phone conference with journalists from across Asia and the Pacific. It would bring U.S. exporters back to Asia to close deals and explore more opportunities, it said. Beijing has said it is simply a development project that any country is welcome to join.

The United States' first outlined its strategy to develop the Indo-Pacific economy at an Asia-Pacific summit a year ago. But the United States wants partnerships, not domination, he added. In addition to establishing public-private partnerships to build digital infrastructure, this initiative will deploy technical assistance to improve partner countries' regulatory policies and cybersecurity.

She said Australia's foreign affairs department (DFAT), the US' Overseas Private Investment Corporation (OPIC), and the Japanese Bank for International Cooperation were developing a framework of cooperation.

"As just one national example of what happens when countries engage with the United States, we see how Vietnam has risen", Pompeo said.

The US also announced strengthened support for important regional institutions, including the Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, the Lower Mekong Initiative, and the Indian-Ocean Rim Association.

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