- The Twentieth AEM-ROK Consultation was held on 22 August 2023. The Consultation was co-chaired by H.E. Dr. Jerry Sambuaga, Vice Minister of Trade, Republic of Indonesia and H.E. Dukgeun Ahn, Minister for Trade, Republic of Korea. The Meeting welcomed H.E. Filipus Nino Pereira, Minister of Commerce and Industry, Democratic Republic of Timor-Leste to the Meeting as an observer.
- The Meeting noted that two-way merchandise trade between ASEAN and ROK in 2022 has tripled since the ASEAN-Korea Trade in Goods Agreement (AKTIGA) entered into force in 2007. According to ASEAN preliminary statistics in 2022, two-way merchandise trade between ASEAN and ROK reached USD 222.8 billion, increasing by 17.4 per cent year-on-year from 2021. Foreign Direct Investment (FDI) from ROK to ASEAN in 2022 amounted to USD 12.7 billion or an increase of 25.5 per cent year-on-year from 2021. The Meeting also noted that ROK is ASEAN’s fifth-largest trade partner and sixth-largest source of FDI among ASEAN Dialogue Partners in 2022.
