1. The Eleventh Consultations between the ASEAN Economic Ministers (AEM) and the Minister for Trade of the Republic of Korea were held on 26 August 2014 in Nay Pyi Taw, Myanmar. The Consultations were co‐chaired by H.E. Dr. Kan Zaw, Union Minister for National Planning and Economic Development, Myanmar and H.E. Yoon Sang‐jick, Minister of Trade, Industry and Energy, Republic of Korea.

2. The Ministers noted that bilateral trade between ASEAN and Korea grew from US$ 131 billion in 2012 to US$ 135 billion in 2013. ASEAN’s imports from Korea increased by 8.1% registering at US$82.2 billion in 2013 while ASEAN’s exports to Korea fell by 4.0% placed at US$ 52.8 billion.

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