ASEAN Plus Three Economic Relation

Overview

The ASEAN-Plus Three (APT) consists of 10 ASEAN Member States, China, Japan, and the Republic of Korea (ROK). Started in 1997 by way of the convening of an Informal Summit among the Leaders of ASEAN, China, Japan, and the Republic of Korea, the APT platform was institutionalised in 1999 where APT Leaders resolved to strengthen and deepen East Asia cooperation at various levels and in various areas, particularly in economic, social, political and other fields.

Today, the APT remains a cornerstone of East Asian economic integration, contributing to broader regional frameworks such as the Regional Comprehensive Economic Partnership (RCEP). It continues to serve as an engine for promoting resilience, connectivity, and sustainable growth across ASEAN and its Northeast Asian partners.

In 2024, the total two-way trade between ASEAN and the Plus Three countries reached USD 1.2 trillion, whilst Foreign Direct Investment (FDI) from the Plus Three countries to ASEAN reached USD 44.4 billion.

Priority Areas of Cooperation

Cooperation objectives and activities between ASEAN and the Plus Three countries are guided by the ASEAN Plus Three Cooperation Work Plan 2018-2022, which was adopted at the 18th APT Foreign Ministers’ Meeting on 7 August 2017 and cover a wide range of economic cooperation including:

Promotion of trade and investment

Maintaining financial market stability in the region

Promotion of sustainable tourism and people-to-people connectivity

Enhanced cooperation in food, agriculture and forestry

Enhanced energy security and cooperation

Enhanced cooperation in minerals

Promotion of sustainable development of micro, small and medium enterprises (MSMEs), including through the consultations with ASEAN-China Centre, ASEAN-Japan Centre, and ASEAN-Korea Centre

Strengthened cooperation in science, technology, and innovation (STI)

Priorities and projects for cooperation among ASEAN and the Plus Three countries are guided by the APT Cooperation Work Plan 2023 – 2027, adopted at the 23rd APT Foreign Ministers’ Meeting on 4 August 2022. To strengthen and deepen economic relations between ASEAN, China, Japan, and the Republic of Korea’s cooperation on trade and investment, the APT Economic Cooperation Work Plan (APT ECWP) is developed on a biennial basis. The APT ECWP aims to enhance dialogues and to foster trade and investment among the members, as well as to promote joint efforts towards addressing challenges arising from regional and global developments, with a focus on the development needs of Micro, Small and Medium enterprises (MSMEs).

Major Sectoral Bodies/Committees

AEM-Plus Three Consultations comprising Economic Ministers from ASEAN and Plus Three countries. The consultations are held annually to consider the progress of the overall economic relations and provide guidance and directions for the economic relations.
SEOM-Plus Three Consultations comprising senior economic officials from ASEAN and Plus Three countries. The consultations are held regularly to support the Ministers in implementing various initiatives to support economic cooperation between ASEAN and the Plus Three countries.

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