US Treasury chief upbeat on positive trade talks with Asian nations

The United States has recently made progress in negotiations with the largest Asian economies regarding new bilateral trade agreements and tariff policy easing.

U.S. Treasury Secretary Scott Bessent made the remarks at the Saudi-U.S. Investment Forum in Riyadh on May 13, noting the encouraging dynamics of the dialogue, Caliber.Az reports, citing foreign media.

"I'm focused on agreements in Asia. We've had very productive dialogue with Japan. South Korea is going through a leadership transition, but before the country entered the election cycle, they approached us with some very good proposals. Indonesia, a major trading partner — we’re currently in very good contact with them. Taiwan has put forward some excellent initiatives, and Thailand as well. Overall, things are going very well in this part of the world," Bessent said during the Forum, which was broadcast on the Forum's website.

The Saudi-U.S. Investment Forum is a high-level economic summit held in Riyadh, Saudi Arabia, aimed at strengthening bilateral trade and investment between the Kingdom and the United States. The 2025 edition takes place on May 13 at the King Abdulaziz International Conference Center, coinciding with U.S. President Donald Trump's state visit to Saudi Arabia.

The Forum serves as a platform to deepen economic ties between the two nations, building upon a partnership that began with the historic 1945 meeting between King Abdulaziz Ibn Saud and President Franklin D. Roosevelt. It focuses on sectors such as clean energy, technology and artificial intelligence (AI), advanced manufacturing, financial services, venture capital, aerospace and defence, and healthcare.

By Khagan Isayev