1. Economic Ministers from the ten ASEAN Member States, Australia and New Zealand (Closer Economic Relations – CER) virtually met on 29 August 2020 for the Twenty-Fifth AEM-CER Consultations. The Consultations were co-chaired by H.E. Tran Tuan Anh, Minister of Industry and Trade, Viet Nam; the Hon Senator Simon Birmingham, Minister for Trade, Tourism and Investment, Australia; and Mr. Vangelis Vitalis, Deputy Secretary Trade and Economic Group, Ministry of Foreign Affairs and Trade, New Zealand (representing Hon. David Parker, Minister for Trade and Export Growth, New Zealand).
2. The Ministers noted the 1.2 per cent increase in ASEAN’s total trade with Australia from AUD 120.7 billion in 2018 to AUD 122.2 billion in 2019, based on Australia’s data. The Ministers also noted the 6.6 per cent increase in ASEAN’s total trade with New Zealand from AUD 15.95 billion to AUD 16.99 billion in 2019. According to Australia’s and New Zealand’s data, Australia’s direct investment in ASEAN in 2019 accounted for 5.5 per cent of Australia’s total direct investment abroad – valued at AUD 45.4 billion, while New Zealand’s direct investment in ASEAN for the same year was valued at AUD 855 million accounting for 3.2 per cent of New Zealand’s total investment abroad.
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