Trade Background: Asia-Pacific
The Association of Southeast Asian Nations, or ASEAN, was established in 1967 with the signing of the ASEAN Declaration by Indonesia, Malaysia, Philippines, Singapore and Thailand. Since then, Brunei Darussalam, Vietnam, Lao People’s Democratic Republic, Myanmar, and Cambodia joined, making up what is today the 10 member states of ASEAN.
The ASEAN Vision 2020, adopted by the ASEAN leaders on the 30th anniversary of ASEAN, agreed on a shared vision of ASEAN as a concert of Southeast Asian nations and an agreement to become an economic union by 2020. The agreement sets deadlines for lowering travel restrictions and tariffs in the region of 500 million people. In 2015, U.S. exports to ASEAN totaled $74.9 billion. California exports totaled nearly $11 billion, nearly 15 percent of all US exports to ASEAN. California is currently the top exporting state to ASEAN.
- Fact Sheet: The Growing Prominence of U.S.-ASEAN Trade Relations, USTR, June 13, 2013
- United States and Association of Southeast Asian Nations Ministers Meet to Advance Job-Promoting Trade Initiatives, USTR, June 13, 2013
The APEC forum was formed in 1989. It serves as a multilateral forum in which Asian and Pacific economies can solve economic problems and cooperate in developing key economic sectors.The APEC economies are: Australia, Brunei Darussalam, Canada, Chile, People’s Republic of China, Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Republic of the Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States and Vietnam.
Pacific Alliance Admits Four New Associate Members TZNV, June 29, 2017
The Pacific Alliance (Colombia, Mexico, Chile and Peru) has admitted News Zealand, Australia, Canada and Singapore as associate members. The associate membership status is seen as a first step towards expanding trade and investment with the group, a major supporter of free trade in the region. The alliance also announced it is looking at the possibility of creating a single passport for its four core member countries.
The most recent meeting of the Trans-Pacific Partnership negotiations took place in Singapore on May 18-20, 2014.
The ministers of the TPP countries focused in particular on making meaningful progress on market access and also advanced outstanding rules issues in an effort to narrow the remaining differences.
Joint Statement at the TPP Ministers Meeting in SingaporeSingapore, May 18-20, 2014
See the CalChamber’s TPP Trade Issues Page for further information
- Tiny Island Country Opens North County Consulate San Diego Union Tribune, Oct. 2012
- Statement at the Conclusion of the 2011 Article IV Mission to Myanmar International Monetary Fund, January 2012
- Berkeley APEC Study Center
- Walter H. Shorenstein Asia-Pacific Research Center of Stanford
- A SITE SELECTION INVESTMENT PROFILE: MALAYSIA From Site Selection magazine, September 2011