1. The Economic Ministers from all ASEAN Member States (AMS) and the United States Trade Representative (“the Ministers”) virtually met on 27 August 2020. The Consultations were co-chaired by H.E. Tran Tuan Anh, Minister of Trade and Industry, Viet Nam and H.E. Robert E. Lighthizer, United States Trade Representative, United States of America (U.S.).

2. The Ministers noted that two-way merchandise trade between ASEAN and the United States experienced increasing growth of 12 per cent in 2019. As recorded by ASEAN’s preliminary statistics, two-way merchandise trade between ASEAN-U.S. reached USD 294.6 billion, while Foreign Direct Investment (FDI) inflows from the United States to ASEAN amounted to USD 24.5 billion in 2019. These placed the United States as ASEAN’s second largest trading partner and largest external source of FDI among ASEAN’s 10 Dialogue Partners in 2019. The Ministers also welcomed the increased foreign investment into the United States from ASEAN.

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