1. Economic Ministers from the ten ASEAN Member States and the Minister of Economy, Trade and Industry (METI) of Japan met on 23 August 2015 in Kuala Lumpur, Malaysia for the Twenty-first AEM-METI Consultations. The Consultations were co-chaired by H.E. Dato’ Sri Mustapa Mohammed, Minister of International Trade and Industry of Malaysia and H.E. Yoichi Miyazawa, Minister of Economy, Trade and Industry of Japan.

2. The Ministers noted the performance of ASEAN-Japan bilateral trade and investment. According to ASEAN statistics, two-way trade between ASEAN and Japan reached USD 229.1 billion in 2014, accounting for 9.1 per cent of ASEAN’s total trade. Japan remained ASEAN’s third largest trading partner after China and the European Union (EU). Foreign direct investment (FDI) inflow from Japan to ASEAN amounted to USD 13.4 billion, accounting for 9.8 per cent of total FDI inflow to ASEAN. Japan remained the second largest source of FDI inflow to ASEAN after the EU.

3. The Ministers were pleased with the implementation of activities under the ASEAN-Japan 10-year Strategic Economic Cooperation Roadmap in various areas including intellectual property, small and medium-sized enterprises (SMEs), content, and disaster risk reduction. The Ministers also welcomed the progress of AMEICC activities including programmes under Japan’s supplementary budget such as: i) support for the development of the “ASEAN Strategic Action Plan for SME Development 2016 – 2025″; ii) developing database on Non-Tariff Measures in cooperation with ERIA; iii) holding the special seminar on ASEAN Automobile industry development; and iv) starting the trial operation of ASEAN-Japan Chemical Safety Database aiming to start the full operation in April 2016. The Ministers noted that the ASEAN-Japan 10-year Strategic Economic Cooperation Roadmap will be reviewed in 2016 taking into account the ASEAN Community Vision 2025.

Download the full Joint Media Statement here.