ASEAN Plus Three Must Safeguard Clockwork Supply Chain Amid Global Shifts
KUALA LUMPUR, Sept 24 (Bernama) -- ASEAN, together with China, Japan and South Korea (ASEAN Plus Three), must join forces to maintain and stabilise their sophisticated and delicate supply chain network like clockwork, while coping with changes in the global trade environment, said South Korean Minister for Trade Yeo Han-Koo.
He described supply chain resilience and cooperation as a common interest among the ASEAN Plus Three economies, which for decades have developed a complex and interdependent global supply chain network.
“ASEAN Plus Three are connected through a multiple web of trade agreement networks,” he said in his opening remarks at the working lunch of the 28th ASEAN Economic Ministers (AEM) Plus Three Consultation, held on the sidelines of the 57th AEM and related meetings here today.
He noted that South Korea has bilateral free trade agreements with both ASEAN and China, while South Korea and Japan are also linked via the Regional Comprehensive Economic Partnership (RCEP).
“In fact, if we combine all these economies of ASEAN Plus Three countries, the population accounts for about 28 per cent of the world, the gross domestic product about 27 per cent, and in terms of manufacturing value-added, it almost accounts for half of the world’s manufacturing activities,” he added.
Meanwhile Chinese Vice Minister of Commerce Yan Dong, in his opening remarks, reiterated China’s readiness to boost regional cooperation through the ASEAN Plus Three framework, describing it as a mature mechanism that has long contributed to East Asia’s sustainable growth and stability.
He said his country support stronger trade and investment linkages with ASEAN, Japan and South Korea.
“Plus Three cooperation is one of the most mature mechanisms. It has made a positive contribution to ASEAN sustainable development for a long time,” he said.
Yan, who spoke in Chinese, had his remarks translated into English.
He also highlighted that China’s trade with Japan and South Korea reached US$1.1 trillion in the first eight months of 2025, marking a six per cent increase and accounting for 26.8 per cent of China’s total trade.
“So far, China has invested more than US$7 trillion,” he added.
The working lunch session was chaired by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, and brought together ASEAN economic ministers and their counterparts, including Japan’s Minister of Economy, Trade and Industry (METI) Muto Yoji, as well as senior officials from the ASEAN Secretariat.
-- BERNAMA