1. The Seventeenth Consultations between the ASEAN Economic Ministers (AEM) and Economic Ministers of the People’s Republic of China, Japan and 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 of Myanmar; H.E. Gao Hucheng, Minister of Commerce of China; H.E. Toshimitsu Motegi, Minister for Economy, Trade and Industry of Japan; and H.E. Yoon Sang‐jick, Minister of Trade, Industry and Energy of Korea.
2. The Ministers noted that the trade and investment relations between ASEAN and the Plus Three Countries retained its momentum despites challenges derived from uncertainties in the global economy. In 2013, ASEAN total trade with the Plus Three Countries recorded an increase of 1.8% year‐on‐year, amounting to US$726.4 billion and accounting for 28.9% of ASEAN’s total trade. Though ASEAN’s imports from the Plus Three Countries grew by 2.1% year‐on‐year in 2013, the rate has moderated from 11.2% the previous year. ASEAN’s exports to the Plus Three Countries grew by 1.5% year‐on‐year. Total foreign direct investment (FDI) flows from the Plus Three Countries into ASEAN reached US$56 billion or 46.1% of total, representing a 9.4% increase from the previous year.
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