Mike Pompeo Indo-pacific strategy: US to spend $113m in Asia

State Pompeo hosts religious freedom summit at the State Department in Washington

State Pompeo hosts religious freedom summit at the State Department in Washington

"This is key for worldwide peace and each country's attainment of its own national dreams", Pompeo said.

"This partnership represents our commitment to an Indo-Pacific region that is free, open and prosperous", the three nations said in a joint statement issued on Monday, according to Bishop. That is why the Indo-Pacific must be free and open. We're not looking for dominance. But the U.S. wants partnerships, not domination, he added. Others choose to behave differently.

She said Australia's foreign affairs department (DFAT), the US' Overseas Private Investment Corporation (OPIC), and the Japanese Bank for International Cooperation were developing a framework of cooperation.

Addressing an audience of business leaders, diplomats and senior administration officials, Mr. Pompeo said that the U.S.

"I think it's wrong to view these things as either/or".

"This is created to provide a mechanism that will allow more private-sector funding for the infrastructure projects that countries in this region need", Kirchner said.

The partnership recognises that "more support is needed to enhance peace and prosperity in the Indo-Pacific region".

The US "will never seek domination in the Indo-Pacific", said Pompeo, "and we will oppose any country that does". We want the peaceful resolution of territorial and maritime disputes.

"To be clear, the US government doesn't tell American companies what to do", he said. Still, he frequently sought to frame U.S. companies as the better partners for countries seeking foreign investment.

Australia has reached a deal with the USA and Japan to invest in projects in the Indo-Pacific region, and promote economic growth.

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He launched new initiatives to accelerate USA private investment and support job-creating U.S. export opportunities in the areas of digital economy, infrastructure, and energy.

The investments will include energy, transport, tourism and technology infrastructure, with the governments aiming to attract private capital to projects.

Mr Pompeo made pointed reference to this in his speech to the US Chamber of Commerce "The United States of America does not invest for political influence, but rather practices partnership economics", he said.

That work will continue, he maintained, as "it is clearly in America's strategic interest to deepen engagement in the Indo-Pacific region".

The measures include a US$25 million initial investment to improve digital connectivity in partner countries and to expand opportunities for U.S. technology exports. In addition to establishing public-private partnerships to build digital infrastructure, this initiative will deploy technical assistance to improve partner countries' regulatory policies and cybersecurity.

The initiative will grow foreign energy markets and boost United States energy exports by expanding public-private partnerships, fostering business-to-business connections, and helping partner governments set market-based energy policies.

Economically, "open" means fair and reciprocal trade, open investment environments, transparent agreements between nations, and improved connectivity to drive regional ties - because these are the paths for sustainable growth in the region.

Pompeo said the United States has signed a $350 million investment compact with Mongolia to develop new sources of water supply.

The Trump administration has unveiled a new package of initiatives across the Pacific.

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