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(Bloomberg) — The Asia-Pacific region has huge potential to absorb more US exports, including of liquefied natural gas, a senior American diplomat said.
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President Donald Trump sees Asia-Pacific Economic Cooperation group “as an important dimension to our trade agenda,” Casey Mace, US senior official to APEC, told Bloomberg TV Friday. Taken together, the 21 member economies of APEC represent an “enormous market” for American goods and services that last year was worth some $1.5 trillion, Mace said.
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The diplomat touted, in particular, the potential for US supplies to help diversify energy sources for a region that’s long depended critically on Middle East oil and gas — which has been disrupted by the Iran war.
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“What’s critically important for this region is to continue to look to diversify their energy supplies so that they’re more resilient,” Mace said. “And America has a lot of great energy exports to offer.”
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US partners in the region are making more commitments to purchasing American LNG and crude oil, “because they see us as a reliable and affordable supplier of energy exports,” he said.
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The digital and AI space also offer promise, Mace said. “So we need to stay at the forefront of the conversation and of the agenda to make sure that the region sees the United States is not just the leader, but the solution they need to power their economic growth.”
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Mace was speaking on the sidelines of a gathering trade officials from APEC — which includes China and Japan — in the eastern Chinese city of Suzhou. He said a “very positive” meeting between Trump and Chinese leader Xi Jinping last week was helpful in setting a good tone for the APEC meetings.
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Mace reprised the administration’s talking points on the Trump-Xi summit, saying the two leaders agreed Iran shouldn’t have a nuclear weapon, the Strait of Hormuz should be reopened and Tehran shouldn’t toll traffic through the waterway.
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“All of those are critically important to restoring the energy supply chain fluidity that this region needs,” said Mace.
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—With assistance from Nikita Koirala.
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English (US)