- The Fifty-Fourth ASEAN Economic Ministers (AEM) Meeting was held in Siem Reap, Cambodia on 13 – 15 September 2022. The Meeting, which was chaired by Cambodia under the theme “ASEAN A.C.T.: Addressing Challenges Together” was preceded by a preparatory meeting of the ASEAN Senior Economic Officials (SEOM) and joint meetings with the 36th ASEAN Free Trade Area (AFTA) Council, 25th ASEAN Investment Area (AIA) Council, and Consultations with the ASEAN Business Advisory Council (ABAC).
Responding to Regional and Global Developments
- The Meeting reaffirmed ASEAN’s unwavering commitment to regional economic integration amidst continued pandemic-related challenges and rising geopolitical tensions. The Meeting was pleased to note that the ASEAN economy expanded by 3.4 percent in 2021 with growth driven by a strong rebound in consumption, investment and trade, supported by the successful rollout of vaccination programs that enabled economies in the region to reopen domestically. The Meeting noted that as of mid-August 2022, the full dose vaccination rate in ASEAN has reached 69.0 percent, while 30.5 percent of the population has received booster shots. The Meeting expressed optimism that the growth momentum would continue to 2022 and 2023, with growth forecast at 5.0 percent and 5.2 percent, respectively.
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