New York - The US-ASEAN Business Council and the U.S. Chamber of Commerce recently hosted a breakfast with the leaders of the Association of Southeast Asian Nations (ASEAN) in advance of the 2^nd ASEAN Leaders Summit with President Obama.

As part of their first joint trip to the United States, the ASEAN leaders met with the business community to celebrate the opportunities created by increased U.S.-ASEAN engagement.

The nations of ASEAN were represented by ASEAN Secretary General Dr. Surin Pitsuwan, Ambassador Hamid of Brunei, Minister Sok Chenda of Cambodia, Vice President Boediono of Indonesia, Phongsavath Boupha, Minister to the office of the President of the Lao People’s Democratic Republic,Prime Minister Najib Razak of Malaysia, Foreign Minister Nyan Win of Myanmar, Secretary of Finance Cesar Purisima of the Philippines, Prime Minister Lee Hsien Loong of Singapore, Prime Minister Abhisit Vejjajiva of Thailand, and President Nguyen Minh Triet of Vietnam, the current ASEAN Chair. The perspective of the many companies deeply invested in ASEAN was represented by Muhtar Kent, the Chairman and CEO of the Coca-Cola Company and Chair of the US-ASEAN Business Council, and Evan Greenberg, Chairman and CEO of ACE Group.

Officials from all ten ASEAN nations, the U.S. government, and major business leaders gathered at the Mandarin Oriental in New York to celebrate the trade and investment pillar of ASEAN’s relationship to the United States.

 “During the Council's 25 year working relationship with ASEAN, US-ASEAN trade has increased seven-fold to exceed $200 billion annually,” said Council President Alexander Feldman. “ASEAN itself has doubled in membership, reached nearly 600 million in population, and raised its collective GDP from $2.2 billion to nearly $1.5 trillion”

The Asia Development Bank projects it to grow at 6.7% over the next year. The average ASEAN consumer purchases nearly twice as many U.S. goods per capita as the average Chinese consumer and nearly nine times as many as the average Indian consumer. Major U.S. companies are expanding their engagement in ASEAN as the region grows.  

“Coca-Cola, like every business represented in this room today, believes in the future of Southeast Asia and sees tremendous opportunities for further growth, driven by investment, innovation, workforce development and entrepreneurship,” said Muhtar Kent, Chairman and CEO of the Coca-Cola Company and Chair of the US-ASEAN Business Council. “We understand the enormous responsibility we have in growing in a sustainable manner that protects and enhances not just Southeast Asia’s economy but its incredible environment and its people.”

“In this difficult economy, the U.S. needs to explore new avenues to grow our markets and create jobs,” said Council President Alexander Feldman. “President Obama’s National Export Initiative calls for the U.S. to double exports in five years. ASEAN is already our 4^th largest export market, and as the nations of Southeast Asia move closer to the formation of the ASEAN Economic Community planned for 2015 the opportunities for business, trade and investment will expand significantly. Our trade with ASEAN has grown by leaps and bounds, but our market share has been shrinking as more countries from around the world have become interested in the opportunities Southeast Asia offers. The ASEAN Leaders Summit is an important step in reversing this trend, and U.S. business stands willing to continue to expand engagement in Southeast Asia.”

President Nguyen Minh Triet of Vietnam, the current chair of ASEAN, spoke representing the nations of Southeast Asia, while Kurt Campbell, Assistant Secretary of State for East Asian and Pacific Affairs, presented a U.S. government perspective.

The Leaders Summit breakfast followed an unprecedented year of engagement in Southeast Asia from the U.S. Business Community, including the 1^st Southeast Asia Economic Ministers Road Show with U.S.T.R. Ron Kirk. This week Council members also met bilaterally with Vice President Boediono of Indonesia, President Acquino of the Philippines, Thailand’s Prime Minister Abhisit, President Triet of Vietnam, and ASEAN Secretary General Surin Pitsuwan.

The breakfast was sponsored by Council members including The Coca-Cola Company, ConocoPhillips, ExxonMobil, General Electric, ACE Group, Chartis International, Raytheon, Caterpillar, and Kraft Foods.