- The Economic Ministers from the ten ASEAN Member States and the Minister of Commerce of the People’s Republic of China met on 26 August 2014 for the Thirteenth AEM–‐MOFCOM Consultations. The Consultations were co–‐chaired by H.E. Dr. Kan Zaw, Union Minister for National Planning and Economic Development, Myanmar and H.E. Gao Hucheng, Minister of Commerce, China.
The Ministers noted the strong economic relationship between ASEAN and China, and were pleased that China maintained its position as ASEAN’s largest trading partner. By the end of 2013, ASEAN total trade with China reached US$ 350.5 billion, accounting for14% of ASEAN’s total trade, and representing an increase of 9.7% year on year. In 2013, ASEAN received US$8.6 billion foreign direct investment (FDI) inflows from China, a significant 60.8% increase year–‐on-‐year and accounting for 7.1% of total inflows to ASEAN. The Ministers reaffirmed ASEAN’s and China’s commitment to achieving the joint target of US$500 billion trade by end of 2015, as endorsed by Leaders.
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