ASEAN member nations and the US agreed to further deepen their economic, trade and investment ties in the future.

The agreement was reached at a consultation between the ASEAN Economic Ministers and the United States Trade Representative, Ron Kirk, which took place on August 30 in Siem Reap, Cambodia.

At the event, participants highlighted the increasing development in trade relations between ASEAN and the US .

The US remains the fourth largest trading partner of ASEAN, while the group is now the fifth largest trading partner of the US.

According to the ministers, the two sides’ leaders committed to joining efforts to step up the economic, trade and investment cooperation.

They noted that the further promotion of economic ties is very important for both ASEAN and the US , when both are considered as engines of global economic activities and growth.

They also discussed the implementation of the ASEAN-US Trade and Investment Framework Agreement (TIFA), underlining the necessity to create more opportunities to enhance the economic relations between the two sides.-VNA