ASEAN-United States

1. The period under review saw various activities undertaken under the framework ASEAN-US Dialogue, although the Ninth ASEAN-US Dialogue could not be convened due to administrative and time constraints. It is however, rescheduled to be held in Bangkok on 1-2 September 1990. Project proposals have been formulated for consideration at this dialogue, touching on a broad spectrum of ASEAN-US cooperation.

2. Development which should give more dynamism to the present economic cooperation is ASEAN's efforts in engaging the participation of the private sector in the dialogue process.

3. The signing of the Grant Agreement on ASEAN-US Private Investment and Trade Opportunities (PITO) by Thailand on behalf of ASEAN on 26 April represented a significant hallmark of the ASEAN-US Dialogue relations. This PITO project would involve financial assistance of US$ 13 million over a period of 6 years from USAID. The aim of the project is to establish a structure and mechanism to promote expanded private sector trade and investment between ASEAN and the US.

4. The ASEAN-US Initiative (AUI) received much attention from both sides. The AUI Report produced by independent experts was conveyed to the US and ASEAN member governments. It was subsequently agreed that the AUI Report, due to its nature, should be regarded as an independent study and merely used as a reference point to advance the ASEAN-US economic relations. As a result, ASEAN and the US set up a Joint Working Group on Economic Relations Study. The Working Group will review existing ASEAN-US Economic relations and attempt to identify areas as well as ways and means to strengthen the economic ties.