ASEAN Plus Three Trade Hits US$1.2 Trillion In 2024

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Sept 24 (Bernama) -- Trade between ASEAN and its Plus Three partners -- China, Japan and South Korea -- has reached US$1.2 trillion in 2024, accounting for 31.7 per cent of ASEAN’s total trade, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

He also said foreign direct investment (FDI) inflows from the Plus Three countries into ASEAN stood at US$44.4 billion, representing close to 20 per cent of total FDI into the region.

“These figures underscore the importance of our enduring partnership,” Tengku Zafrul said in his opening remarks at the Working Lunch - 28th ASEAN Economic Ministers (AEM) Plus Three Consultation here today, held on the sidelines of the 57th AEM and Related Meetings.

The working lunch session brought together ASEAN economic ministers and their counterparts, including China’s Commerce Vice-Minister, Yan Dong; Japan’s Minister of Economy, Trade and Industry, Muto Yoji; and South Korean Minister for Trade, Yeo Han-Koo; along with senior officials from the ASEAN Secretariat.

Tengku Zafrul, who is chairing this year’s AEM Meetings under Malaysia’s ASEAN Chairmanship, expressed confidence that the spirit of collaboration among the ASEAN Plus Three nations would be productive and forward-looking, delivering outcomes that would strengthen cooperation to the benefit of businesses.

He noted that since its inception in 1997, the ASEAN Plus Three Economic Cooperation framework has grown steadily and meaningfully.

“On behalf of ASEAN, I wish to extend our warm appreciation to all Plus Three Ministers and delegations for continued partnership, and to the ASEAN Secretariat for its steadfast support in advancing our shared economic agenda,” he added.

--  BERNAMA