1. Economic Ministers from the ten ASEAN Member States, Australia, China, India, Japan, Republic of Korea, New Zealand, the Russian Federation and the United States (“the Ministers”) met virtually on 28 August 2020 for the 8 th East Asia Summit Economic Ministers’ Meeting (EAS-EMM). The Meeting was chaired by H.E. Tran Tuan Anh, Minister of Industry and Trade of Viet Nam.
2. The Ministers welcomed the increasing trade and strong investment performance among the EAS economies, with the combined nominal GDP reaching US$ 51.6 trillion in 2019, an increase by 4.1 per cent from previous year. The Ministers noted that according to preliminary ASEAN statistics, ASEAN merchandise trade with non-ASEAN EAS participating countries amounted to US$ 1.3 trillion in 2019, accounting for 48.1 per cent of ASEAN’s total trade while Foreign Direct Investment (FDI) reached to US$ 61.2 billion, representing 38.1 per cent of ASEAN’s total FDI inflows.
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8th East Asia Summit (EAS) Economic Ministers’ Meeting