ASEAN, Plus Three countries retain trade, investment momentum despite challenges

Nay Pyi Taw, 26 ment relations between countries China, Japan tained momentum despite uncertainties in the global Aug Trade and invest ASEAN and its plus three and South Korea challenges derived from economy.

In 2013, ASEAN’s trade with the Plus Three countries recorded an increase of 1.8 per cent year-on-year, amounting to $ 726.4 billion and accounting for 28.9 per cent of ASEAN’s trade, according to the joint media statement after the 17th Consultations between the ASEAN Economic Ministers and the economic ministers of China, Japan and South Korea in Nay Pyi Taw on Tuesday.

Though ASEAN’s imports from the three countries grew 2.1 per cent year-on-year in 2013, the rate moderated from 11.2 per cent the previous year, while ASEAN’s export to the three grew 1.5 per cent year-on-year.

Total foreign direct investment from the Plus Three into ASEAN reached $ 56 billion, 46.1 per cent of total FDI and a 9.4 per cent increase from the previous year.

The consultations were co-chaired by Dr Kan Zaw, Union Minister for National Planning and Economic Development of Myanmar, Gao Hucheng, minister of Commerce of China, Toshimitsu Motegi, minister for Economy, Trade and Industry of Japan and Yoon Sang-jick, minister of Trade, Industry and Energy of South Korea.

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