"We have already reached $300 billion a year towards trade. I think prime minister of China Wen Jiabao has put the figure at $500 billion for the year 2015, very ambitious, but things seem to be going in the right direction,” Clinton stated.

Secretary Clinton wants more opportunities for American firms to compete in this economic arena and wants ASEAN to reduce trade barriers and apply the same rules to all investors. “We have to start by insisting on economic competition that is open, free, transparent and fair. That means taking on rules that prevent foreign investors from competing with local businesses to produce better goods and services,” she said.

She says the United States is now pushing back on unfair trade practices. She says these efforts have helped increase efforts by the Obama administration to help U.S. companies like construction equipment maker Caterpillar build a new plant in Indonesia, and aircraft manufacturer Boeing secure multi billion dollar deals with Thai Airways and Indonesia's Lion Air.

Clinton says the U.S. supports ASEAN efforts to develop a Trans Pacific Trade Agreement that would create a regional legal frame work for trade and investment and would include standards for worker protections and the environment.