ASEAN Member States (AMS), the People’s Republic of China (“China”), Japan, and the Republic of Korea (“Korea”) met on 17 September 2022 for the Twenty-Fifth ASEAN Economic Ministers (AEM) Plus Three Consultation. The Consultation was co-chaired by H.E. PAN Sorasak, Minister of Commerce, Kingdom of Cambodia, H.E. Li Fei, Assistant Minister of Commerce of the People’s Republic of China, H.E. Hirai Hirohide, Vice Minister for International Affairs, Minister of Trade and Industry of Japan, and H.E. Dukgeun Ahn, Minister for Trade at the Ministry of Trade, Industry, and Energy of Korea.
The Meeting noted that trade between ASEAN and the Plus Three Countries recorded an increase of 25.1 percent reaching a total value of USD 1.098 trillion in 2021. Meanwhile, total foreign direct investment (FDI) flows from the Plus Three Countries into ASEAN were valued at USD 32.65 billion in 2021, accounting for 25.4 percent of total FDI inflows into ASEAN.