1. The Ninth Consultations between the ASEAN Economic Ministers (AEM) and the EU Trade Commissioner were held on 27 August 2010 in Da Nang, Viet Nam. The Meeting was co-chaired by H.E. Dr. Vu Huy Hoang, Minister of Industry and Trade of Viet Nam, and H.E. Mr. Karel De Gucht, EU Trade Commissioner.
2. Ministers welcomed that, notwithstanding the drop due to the global economic crisis, trade and investment relations between ASEAN and EU remain substantial as the EU continues to be ASEAN’s second largest trading partner and the biggest source of investment flows with a share of almost 20%. They also noted that despite a decline, total trade between ASEAN and EU in 2009 was still more robust than world trade which dropped by 22.6%. Moreover, data for the first half of 2010 already show a sharp recovery of bilateral trade flows (especially in the second quarter) with volumes expected to return to or surpass the pre-crisis level (USD 208.3/EUR 135 billion in 2008).
3. Ministers exchanged views on the global economic crisis and measures to strengthen the economy. They reiterated their commitment to remain outward looking, to fight protectionism and to maintain trade and investment policies that would underpin sustainable economic growth. Ministers also reaffirmed that the Doha Development Agenda (DDA) is a priority for both ASEAN and the EU and stressed the importance of achieving an early, ambitious and balanced conclusion.
4. Ministers acknowledged the long standing relationship between ASEAN and the EU and recognised the importance of trade and investment for the two regions together accounting for one fourth of world trade. They expressed their commitment to further strengthening trade relations and economic cooperation between ASEAN and the EU, and underscored the importance of renewed engagement to achieve that.
5. Ministers supported deeper co-operation between ASEAN and the EU and stated their commitment to work closely together and to meet regularly at the annual AEM meeting. They announced that an ASEAN-EU business summit would be held in 2011 to enhance business to business dialogue and to raise awareness about business and investment opportunities in ASEAN and the EU.
6. Ministers also pledged to encourage the intensification of contacts between ASEAN and EU officials in areas of mutual interest such as trade facilitation, intellectual property rights, and trade in goods and services, and to build on existing co-operation activities in the trade and economic area with particular attention to the less developed countries in ASEAN.
LIST OF MINISTERS
Dato Paduka Lim Jock Hoi, Permanent Secretary, Ministry of Foreign Affairs and Trade, Brunei Darussalam
Cham Prasidh, Senior Minister and Minister of Commerce, Cambodia
H.E. Karel De Gucht, European Union Trade Commissioner
H.E. Mari Elka Pangestu, Minister of Trade, Indonesia
H.E. Nam Viyaketh, Minister of Industry and Commerce, Lao PDR
Datuk Rebecca Fatima Sta. Maria, Deputy Secretary-General, Ministry of International Trade and Industry, Malaysia (representing H.E. Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry, Malaysia)
H.E. U Soe Tha, Minister for National Planning and Economic Development, Myanmar
H.E. Gregory L. Domingo, Secretary of Trade and Industry, the Philippines
H.E. Lim Hng Kiang, Minister for Trade and Industry, Singapore
H.E. Porntiva Nakasai, Minister of Commerce, Thailand
H.E. Vu Huy Hoang, Minister of Industry and Trade, Viet Nam
H.E. Surin Pitsuwan, Secretary-General of ASEAN