CHIANG MAI, 3 March 2016 – The ASEAN Economic Ministers (AEM) and the EU Trade Commissioner held their Fourteenth Consultations on 3 March 2016 in Chiang Mai, Thailand. The Consultations were co-chaired by H.E. Khemmani Pholsena, Minister of Industry and Commerce, Lao PDR and H.E Cecilia Malmström, the EU Trade Commissioner.

The Ministers and the EU Trade Commissioner noted the strong trade and investment relations between the two regions, with the EU being ASEAN’s second largest trading partner and largest source of FDI inflows. In 2015, ASEAN-EU two-way trade stood at €201 billion, a 11% increase year-on-year, based on EU statistics. In 2014 Foreign
Direct Investment (FDI) inflows from the EU increased by 31.5 per cent to USD 29.3 billion, accounting for 21.5 per cent of the total FDI inflows into ASEAN.

The Ministers and the EU Trade Commissioner reaffirmed their commitment to strengthen economic cooperation in order to deepening economic relations between the two regions.

Download the Full Statement Here.