An essential driver of the world's economy, the multilateral relations of the Indo-Pacific region will help to determine much of the world's economic, logistical and infrastructure future. The Indo-Pacific region holds great potential and opportunity for U.S. business, as represented by the existing $940 billion in foreign direct investment from the U.S. in the region. Looking just at the ten countries of the Association of Southeast Asian Nations (ASEAN), the market represents the fourth largest trading partner for the U.S. and a total market of $2.9 trillion. Continued economic growth and fair and reciprocal trade will support a free and open Indo-Pacific.
Regionally, ANSI is the U.S. representative to the Pacific Area Standards Congress (PASC), a recognized body (i.e,. a Specialist Regional Body) of the Asia Pacific Economic Cooperation (APEC). PASC is a cooperative forum that promotes coordination of policies and positions for standardization in the Asia Pacific region so that they may be more effectively advanced in international standards organizations such as ISO and IEC. Through PASC, ANSI advances policy positions and initiatives that support the U.S. agenda in this region (e.g. trade, energy, environment, etc.). ANSI members also have a unique opportunity to participate in the U.S. delegation to PASC, a valuable networking opportunity in which companies and organizations interact with leaders from over 20 countries in the region.
In addition to regional engagement, ANSI also coordinates with country-specific and bilateral activities in the region. ANSI holds three Memoranda of Understanding (MoUs) with countries in the Indo-Pacific region, including the Bureau of Indian Standards (BIS), the Thai Industrial Standards Institute (TISI), and the Vietnam Directorate for Standards and Quality (STAMEQ).
The United States has Free Trade Agreements in force with the following countries:
In addition, the U.S. holds Trade and Investment Framework Agreements (TIFAs) and Bilateral Investments Treaties (BITs) with many other Indo-Pacific countries, which provide the context for U.S. trade and investment policy dialogues with these governments, dialogues which are aimed at increasing U.S. exports as well as assisting in the development of intra-regional economic ties.
