- The Twenty-Second AEM – Ministry of Commerce (MOFCOM) Consultation was held on 21 August 2023. The Consultation was co-chaired by H.E. Zulkifli Hasan, Minister of Trade, Republic of Indonesia and H.E. LI Fei, Vice Minister of Commerce, China. The Meeting welcomed H.E. Filipus Nino Pereira, Minister of Commerce, and Industry, Democratic Republic of Timor-Leste to the Meeting as an observer.
- The Meeting noted that according to ASEAN Statistics, total merchandise trade between ASEAN and China reached USD 722 billion in 2022, registering an increase of 7.8 per cent year-on-year. China maintained its position as ASEAN’s largest trading partner since 2009 and ASEAN was China’s largest trading partner for three consecutive years since 2020. In 2022, Foreign Direct Investment (FDI) flows from China to ASEAN amounted to 15.3 billion in 2022 and equivalent to 6.9 per cent of total FDI flows to ASEAN.
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