US Secretary of State announces a series of initiatives in the Indo-Pacific

US Secretary of State Mike Pompeo. Photo: Getty

The announcement of Secretary Pompeo's initiatives, made at a forum of the US Chamber of Commerce in Washington, DC, comes at a time when the trade dispute with China has given US commercial diplomacy a sharper competitive edge.

Speaking to reporters, Mr. Brian Hook - senior policy advisor to Secretary of State Pompeo commented: "The Indo-Pacific is certainly a priority for US policy makers in the executive branch and in Congress."

The Indo-Pacific region could account for half of the global economy within decades, but nearly $26 trillion in investment is needed to fulfill its potential, the U.S. Chamber of Commerce said on its website.

The new US initiatives and funding will focus on the digital economy, energy and infrastructure, Hook said, without specifying the amount of investment. Hook made it clear that the US approach to regional development is not intended to compete with China’s “Belt and Road Initiative,” which consists mostly of state-led infrastructure projects linking Asia with parts of Africa and Europe.

“Our approach is to keep the government role very modest and focus on helping businesses do what they do best,” Hook said.

The policy adviser said Washington “welcomes” China’s contributions to regional development, but wants China to adhere to international standards of transparency, rule of law and sustainable financing.

“We know that the US model of economic engagement is the healthiest for countries in the region. It is high-quality, transparent and financially sustainable,” Mr. Hook stressed.

In addition to Secretary Pompeo, the forum was attended by Energy Secretary Rick Perry and Commerce Secretary Wilbur Ross, along with officials from Japan, Australia, Singapore, India and Indonesia.