The Twenty-Sixth ASEAN Economic Ministers (AEM) Plus Three Consultation was held on 22 August 2023. The Consultation was co-chaired by H.E. Dr. Jerry Sambuaga, Vice Minister of Trade, Indonesia; H.E. Li Fei, Vice Minister of Commerce of the People’s Republic of China; H.E. Nakatani Shinichi, State Minister of Economy, Trade and Industry of Japan, and H.E. Dukgeun Ahn, Minister for Trade of Republic of Korea. The Meeting welcomed H.E. Filipus Nino Pereira, Minister of Commerce, and Industry, Democratic Republic of Timor-Leste to the Meeting as an observer.
The Meeting noted that trade between ASEAN and the Plus Countries recorded an increase of 10.2 percent, rising from a total value of USD 1.101 trillion in 2021 to USD 1.213 trillion in 2022, based on ASEAN’s data. Meanwhile, total foreign direct investment (FDI) flows from the Plus Three Countries into ASEAN increased by 13.8 percent, from USD 48 billion in 2021 to USD 54 billion in 2022 based on ASEAN’s data, accounted for 24.3 percent of total FDI inflows into ASEAN.
