1. Economic Ministers from the ten ASEAN Member States and the Republic of Korea (“the Ministers”) met on 30 August 2018 in Singapore, for the Fifteenth AEMROK Consultations. The Consultations were co-chaired by H.E. Chan Chun Sing, Minister for Trade and Industry, Singapore, and H.E. Kim Hyun-chong, Minister for Trade, Republic of Korea.
2. The Ministers noted the strong surge in bilateral trade flows between ASEAN and Korea in 2017, with total merchandise trade increasing by 22.6 per cent, to reach USD 152.5 billion in 2017. Trade with Korea accounted for 6 per cent of ASEAN’s total merchandise trade, placing Korea as ASEAN’s fifth largest trading partner. The Ministers also noted that Korea was ASEAN’s fifth largest external source of Foreign Direct Investment (FDI) in 2017. FDI flows from Korea to ASEAN amounted to USD 5.3 billion, accounting for 3.9 per cent of total FDI flows to ASEAN.
Download the full Statement here.
Download the Opening Remarks here.
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The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN: Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam joined ASEAN on 7 January 1984, followed by Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN.Menu - WHAT WE DO
ASEAN organs always strive to achieve ASEAN’s goals and objectives, the Secretary-General of ASEAN and the ASEAN Secretariat shall be functioned as coordinating Secretariat to help facilitate effective decision-making withing and amongst ASEAN bodies. In addition, each Member State shall appoint a Permanent Representative to liaise with Secretary-General of ASEAN and the ASEAN SecretariatÂ
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ASEAN shall develop friendly relations and mutually beneficial dialogues, cooperation and partnerships with countries and sub-regional, regional and international organisations and institutions. This includes external partners, ASEAN entities, human rights bodies, non-ASEAN Member States Ambassadors to ASEAN, ASEAN committees in third countries and international organisations, as well as international / regional organisations.
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The rodmap for an ASEAN Community (2009-2015) was declared by the leaders in 2009. The ASEAN Community, anchored on three community pillars: Political-Security Community, Economic Community, Socio-Cultural Community was launched in 2015. The ASEAN 2025: Forging Ahead Together was introduced in 2015 as a Post-2015 Vision. It comprises the ASEAN Community Vision 2025, the ASEAN Political-Security Community Blueprint 2025, the ASEAN Economic Community Blueprint 2025 and the ASEAN Socio-Cultural Community Blueprint 2025
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