- The Twenty-First ASEAN Economic Ministers – Republic of Korea (AEM-ROK) Consultation was held on 22 September 2024 in Vientiane, Lao PDR. The Consultation was co-chaired by H.E. Malaithong KOMMASITH, Minister of Industry and Commerce of Lao PDR, and H.E. Inkyo Cheong, Minister for Trade of the Republic of Korea. The Meeting also welcomed the participation of H.E. Filipus Nino Pereira, Minister of Commerce, and Industry, Democratic Republic of Timor-Leste as an observer.
- The Meeting welcomed the steady growth in ASEAN-Korea economic relations. The Meeting noted that, according to ASEAN’s preliminary Statistics, trade between ASEAN and Korea reached a total value of USD 196.6 billion in 2023. Meanwhile, total foreign direct investment (FDI) flows from Korea into ASEAN were valued at USD 10.9 billion in 2023. The Meeting also noted that Korea was ASEAN’s fifth largest trade partner and sixth largest source of FDI among ASEAN Dialogue Partners in 2023.
Download the full statement here.
