1. Consultations between the ten ASEAN Economic Ministers (AEM) and the United States Trade Representative (“the Ministers”) were held on 1 September 2018 in Singapore. The Consultations were co-chaired by H.E. Chan Chun Sing, Minister for Trade and Industry, Singapore and H.E. Jeffrey Gerrish, Deputy United States Trade Representative (USTR) for Asia, Europe, the Middle East and Industrial Competitiveness (representing H.E. Robert Lighthizer, United States Trade Representative).
2. Improving global economic conditions and the strong economic growth of both ASEAN and the United States in 2017 saw total merchandise trade between ASEAN and the U.S. expanding by a robust 10 per cent to USD 233.1 billion. This amount accounted for 9.1 per cent of ASEAN’s total trade, making the United States the third largest trading partner of ASEAN, while ASEAN is the fourth largest trading partner of the United States. Foreign Direct Investment (FDI) flows from the United States to ASEAN amounted to USD 5.4 billion in 2017, putting the United States as ASEAN’s fourth largest external source of FDI.
Download the full Statement here.
Download the opening remarks here.