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ASEAN Economic Ministers held a special meeting in Bangkok
« on: August 08, 2019, 03:28:41 PM »
The ASEAN Economic Ministers held a special meeting in Bangkok on 16 October 1985 and considered the issue, f rising protectionism in international trade especially in the US, with particular reference to the Jenkins-Thurmond Bill.

The Ministers noted that,- ASEAN member countries collectively an, individually, have been making their, utmost efforts in urging the US Administration, Congress and interested parties concerned to appreciate the extent of the repercussions of the Bill. if passed, on the economic a-d social development of ASEAN countries and the overall close and friendly relations between ASEAN and the US.

The Ministers reiterated ASEAN's strong opposition to the Bill which, is discriminatory and contrary to existing international law and US bilateral agreements. At the same time, the Ministers welcomed with great appreciation within and explicit and firm stand of the US Administration in opposing the Bill. The Ministers e-re also encouraged by the rising recognition. within and the understanding of members of the Congress of the negative consequences of the Bill. The Ministers, however, recognize that the danger is far from over. They, therefor further urge the US Administration and members of the Congress to continue efforts toward the eventual rejection of the Bill which poses a grave danger not only to ASEAN but also to the free international. trading framework from which all countries jointly benefit.

The Ministers further pointed out that the Bill, in adversely affecting the ASEAN economies' ability to e-port, will provide them with o alternative but to curtail trade in order to maintain eternal balance. Moreover, ASEAN's export -led economies will be considerably damaged and destabilized. Accordingly, each ASEAN country will have to consider adopting measures to counter the damaging effect of the Bill.

The ASEAN Economic Ministers finally pointed out that beyond the economic impact which is real and immediate, the Jenkins-Turmond and other protectionist bills have already and in- evitably created within ASEAN a sense of uncertainty and disappointment with the United States. The constructive efforts and progress made to nurture and consolidate US - ASEAN relations wi'II undoubtedly suffer a setback with the passage of the Jenkins-Thurmond Bill.

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