Ambassadors’ Visit Aimed to Spur Trade

Irvine will be the first stop on a three-city tour of U.S. ambassadors to Southeast Asian nations.

The purpose of the tour, which arrives at the Hyatt Regency Irvine on June 2, is to stimulate U.S. trade with the seven members of the Assn. of Southeast Asian Nations: Brunei Darussalam, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Those nations collectively formed a consumer market of 420 million people with a combined gross domestic product of more than $600 billion in 1996. The average annual growth rate for the region is expected to be at least 7% for the next several years. The region ranks as the United States’ third-largest trading partner, after Europe and Japan.

Why Irvine? “It’s one of the hottest markets for information technology,” said Rizwan Khaliq, an international trade specialist with the U.S. Department of Commerce.

The tour will highlight other growth markets for locally produced exports, such as environmental technologies, energy and power, and aviation products, Khaliq said. Information on federal and state assistance will also be provided.

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Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at patrice.apodaca@latimes.com