Overview
ASEAN-EAS Economic Cooperation refers to the cooperation among the ten member states of the Association of Southeast Asian Nations (ASEAN) and their eight external partners, namely Australia, China, Japan, India, New Zealand, the Republic of Korea, Russia and the United States.
EAS plays a significant role in community building in the region and forms an integral part of the evolving regional architecture. ASEAN’s role as the driving force in the EAS plays a critical role in working with other EAS Participating counties. The EMM has achieved significant consensus on the commitments to further strengthen regional economic integration in the East Asia region and continue to fight protectionism including all unfair trade practices while recognising the role of legitimate trade defense instruments.
The combined nominal GDP of EAS participating countries stood at USD 51.6 trillion in 2019, growing by 4.1 per cent year-on-year in real terms. The Ministers also noted that, based on preliminary ASEAN data, ASEAN merchandise trade with non-ASEAN EAS reached USD 1.3 trillion in 2019 while Foreign Direct Investment (FDI) flows from non-ASEAN EAS participating countries to ASEAN was recorded at USD 61.2 billion, representing 38.1 per cent of ASEAN’s total FDI inflows.
Priorities of Cooperation
Various economic opportunities and challenges that are taking place globally and regionally have been discussed by EAS countries. In setting course for the initiatives and economic cooperation activities for the EAS participating countries, the EMM is assisted by the Economic Research Institute for ASEAN and East Asia (ERIA) and the ASEAN Secretariat.
Major Sectoral Bodies/Committees
- EAS Economic Ministers’ Meeting: was held for the first time in Manado, Indonesia on 13 August 2012. The EMM discuss and provide guidance on the economic cooperation activities to deepen economic integration in the region.
- SEOM-EAS Consultations: consist of senior economic officers from EAS countries and are conducted regularly to support the Ministers in implementing the various initiatives and measures to support economic cooperation among EAS countries.
Key Documents
Statements/Press Releases:
- The Tenth EAS Economic Ministers’ Meeting, Siem Reap, Cambodia, 17 September 2022
- The Ninth EAS Economic Ministers’ Meeting, Video Conference Meeting, 15 September 2021
- The Eighth EAS Economic Ministers’ Meeting, Video Conference Meeting, 28 August 2020
- The Seventh EAS Economic Ministers’ Meeting, Bangkok, Thailand, 10 September 2019
- The Sixth EAS Economic Ministers’ Meeting, Singapore, 1 September 2018.
- The Fifth EAS Economic Ministers’ Meeting, Manila, the Philippines, 9 September 2017.
- The Fourth EAS Economic Ministers Meeting, Vientiane, Lao PDR 5 August 2016.
- The Third EAS Economic Ministers’ Meeting, Kuala Lumpur, Malaysia, 24 August 2015
- The Second EAS Economic Ministers’ Meeting, Nay Pyi Taw, Myanmar, 27 August 2014
- The EAS Economic Ministers’ Meeting, Bandar Seri Begawan, Brunei Darussalam 21 August 2013
- The EAS Economic Ministers’ Meeting, Siem Reap, Cambodia, 30 August 2012
- The Informal Consultations of EAS Economic Ministers, Manado, Indonesia, 13 August 2011
