President Bush, in a statement on June 20, extended his personal greetings to the ASEAN delegations and said "The 10th ASEAN-United States Dialogue underscores the importance with which the United States views its economic and commercial ties with ASEAN".

The Dialogue was attended by government and private sector delegations from the ASEAN member countries and the United States. Officials of the ASEAN Secretariat also participated. The Meeting was co-chaired by Mr. Richard Solomon, Assistant Secretary of State of East Asian and Pacific Affairs an q leader of the U.S. delegation, and by Ambassador Vitthya Vejjajiva, Permanent Secretary for Foreign Affairs of Thailand and leader of the Thai delegation.

The private sectors of ASEAN and the U.S. were represented by the ASEAN-U.S. Business Council, led by Mr. Raza li Johari of Brunei Darussalam and Mr. Robert Driscoll of the United States.

The Dialogue was opened by Mr. Robert Kimmitt, Under Secretary for Political Affairs, Department of State. In his welcoming remarks, Under Secretary Kimmitt stressed the importance the United States places on its relations with ASEAN, and the need for continuing close cooperation on such issues of common concern as Cambodia, Indochina refugees, the Uruguay Round and APEC. He noted the remarkable economic growth of ASEAN, which has-served as an example for countries in other region of the world who seek rapid development on the basis of open markets and an open global trading regime.

In his opening remarks, Permanent Secretary Vitthya Vejjajiva, focussing on economic development, noted that ASEAN's remarkable growth also provide opportunities for expanded cooperation between the U.S. and ASEAN in such areas as trade, economic and development cooperation. In fostering close ASEAN U.S. partnership, ASEAN looks to the U.S. as a source of markets, capital and technology. He also welcomed private, sector participation in the Dialogue, which will move ASEAN-U.S. Dialogue relations forward on the right path.

The Meeting emphasized the importance of an early and successful conclusion of the Uruguay Round of Multilateral Trade Negotiations. The Continuing prosperity of the economies of the ASEAN countries and the United States is dependent on a strengthened multilateral trading system. The Meeting also agreed that both sides should continue to take a firm position on agriculture in the Uruguay Round with a view to achieving a balanced package of results that will be meaningful and beneficial to all.

In reviewing trade and economic relations between ASEAN and the U.S. in recent years, the Meeting took note of the rapid expansion of ASEAN U.S. trade. The Meeting expressed hope that investment cooperation between ASEAN and the U.S. will similarly be on a rising trend. The Meeting welcomed the forthcoming inaugural meeting of the ASEAN- U.S. Trade and Investment Coopera tion Committee, June 24-25, which will monitor and review, rade and investment relations and identify opportunities for expanding trade and investment as well as related transfer of technology and human resource development and hold consultations thereon.

During the Meeting, representatives of the ASEAN and U.S. private sectors exchanged views on a number of trade, investment and economic issues. The Meeting agreed that the Private Investment and Trade opportunities (PITO) Project, being undertaken by USAID and the ASEAN-U.S. private sectors, is a model of government and private sector cooperation to promote trade and investment. ASEAN industrial schemes such as the ASEAN Industrial Joint Venture (AIJV) and the ASEAN Brand to Brand Complementation (BBC) were discussed. The Meeting was informed that the equity rules allowing the maximum 600/o foreign ownership of the AIJV has now been extended for 3 more years to 31 December 1993. The Meeting also took note of improved investment climate in ASEAN countries through the process of deregulation and liberalization, especially in the financial and monetary sectors. The Meeting further noted ASEAN willingness to consider products in addition to automobiles in the BBC, and its interest generally in attracting additional private sector investment from the United States.

Assistant Secretary of State for International Narcotics Matters Melvyn Levitsky addressed delegates on the serious threat to stability being posed by illegal narcotics. Increased Golden Triangle heroin production is affecting Asian nations and strengthened regional cooperation is necessary to combat the problem. The U.S. is prepared to increase its counter narcotics cooperation with ASEAN. The ASEAN delegates responded favorably to the proposal, particularly in'the areas of training, information exchange and coordination. The Post Ministerial Conference in Kuala Lumpur was suggested as another opportunity to discuss the proposal for regional cooperation in detail. The Meeting was informed that the ASEAN Secretariat could be one of the contact points for the Bureau of International Narcotics Matters in the State Department on such cooperation.

Mr. Joel Szabat, Executive Officer of the Environmental Protection Agency briefed the Dialogue on EPA's policies and approaches on environmental issues and offered opportunities for environmental cooperation between ASEAN and the U.S.

Assistant Secretary Solomon discussed cooperation between the United States and ASEAN on the Cambodian issue and both sides reaffirmed their support for the efforts of the Paris Conference Co-Chairmen to restore independence and peace to Cambodia on the basis of the United Nations settlement framework, as endorsed by Security Council Resolution 668. They agreed that the recent initiatives of Prince Sihanouk, and the discussions between the Cambodian parties and PICC co-chairmen, have opened up new possibilities for momentum toward a political settlement.

The Meeting reviewed the progress made in the implementation of the ASEAN-U.S. Private Investment and Trade Opportunities (PITO) project and in particular, the progress made in the establishment of the ASEAN Growth Fund. This Fund will be a privately owned and managed investment company investing in privately-owned businesses operating in various business sectors and industries in ASEAN. The Overseas Private Investment Corpo fation (OPIC) will support a portion of the capitalization of the Fund. In addition to PITO, another major aspect of ASEAN U.S. development cooperation is human resource development. This project seeks to upgrade management and professional skills in ASEAN. Another aspect is the proposed Environmental Improvement Project - (EIP) which is aimed at transferring U.S. technology to improve the economic and efficient use of ASEAN natural resources by domestic industry. Both sides agreed to consult closely in designing the project.

It was agreed that the llth ASEAN-U.S. Dialogue would be held in Brunei Darussalam on a date to be mutually agreed upon.

The Meeting was held in the spirit of cooperation and cordiality that characterize the relations between ASEAN and the United States.