The ASEAN (Association of Southeast Asian Nations) countries are a group of ten developing nations located in Southeast Asia. These countries have a combined population of over 600 million and an economy worth over $2.6 trillion.

The ASEAN countries have been actively working towards economic integration and have signed many bilateral and multilateral free trade agreements to boost economic growth. In November 2020, the ASEAN countries signed the Regional Comprehensive Economic Partnership (RCEP) agreement with China, Japan, South Korea, Australia, and New Zealand, creating the world`s largest trading bloc.

However, the United States does not have a free trade agreement (FTA) with ASEAN countries, which could lead to the loss of market shares and negatively impact the US economy. Countries like Japan and China are already benefiting from the ASEAN market due to their FTAs with these countries, and the United States risks falling behind.

The US-ASEAN Business Council has called on the US government to negotiate an FTA with the ASEAN countries to increase US exports and create jobs. The council believes that an FTA with the ASEAN countries could increase US exports by up to $90 billion and create over 550,000 jobs in the United States.

An FTA with ASEAN countries would also benefit the ASEAN countries by increasing investment from the United States, boosting economic growth and job creation in the region.

The potential benefits of an FTA with ASEAN countries cannot be ignored, and the United States needs to make it a priority to negotiate one. The ASEAN market is growing rapidly, and the United States needs to take advantage of the opportunities it offers to remain competitive in the global economy.