Building on President Donald Trump's "Indo-Pacific" strategy, US Secretary of State Mike Pompeo on Monday announced $113 million in new regional investments focused on technology, energy and infrastructure.
In remarks to the U.S. Chamber of Commerce Forum in Washington Monday, Secretary of State Mike Pompeo said the investments represent America's engagement in the region and dedication to promoting independence there.
Australia has reached a deal with the USA and Japan to invest in projects in the Indo-Pacific region, and promote economic growth. "We thus have never and will never seek domination in the Indo-Pacific, and we will oppose any country that does", he added.
Mr. Pompeo, who is slated to visit to Malaysia, Singapore and Indonesia later this week, announced Monday some $113 million in new US government investments as a "down payment on a new era" for the U.S.in the region Monday.
Xie believes that America's new Indo-Pacific initiative will make the USA presence in the region stronger and with clearer focus.
Eswar Prasad, a Cornell University trade professor and former head of the IMF's China division, said the United States initiatives were small in comparison to Chinese investments.
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.
"It's an event that brings together business, the private sector and many of our partners from the region to kind of have a conversation about how we boost engagement investment across the Indo Pacific", Biswal, a key player in this initiative, told PTI ahead of the first Forum. "We know that India is a very important market for the countries of Asia and we want to support that greater collaboration in the region", she said.
Senator Mark Warner, co-chair of the Senate India Caucus, would provide Congressional perspective on how it's important for the U.S. public and private sector to be engaged in the Indo-Pacific region.
In the 1960s, the U.S. grew partnerships to address basic developmental needs.
"This is created to provide mechanism that will allow more private-sector funding for the infrastructure projects that countries in this region need", Kirchner said.
Responding to a question on countries who have been part of the OBOR projects, Pompeo said some of the countries who have engaged in that find themselves in a place that they are not happy about.
When we say "open" in the Indo-Pacific, it means we want all nations to enjoy open access to seas and airways. The top United States diplomat will also be seeking to ensure that countries remain committed to maintaining economic sanctions on North Korea.
"Our Indo-Pacific vision excludes no nation", he said.
Pompeo also announced strengthened support for regional institutions in the Indo-Pacific, including the ASEAN and US-ASEAN Connect, APEC, and the Lower Mekong Initiative, along with a first-ever contribution to the Indian Ocean Rim Association.