Joint Media Statement of the Twenty-Sixth AEM-CER Consultations
16 September 2021
1. ASEAN Member States (AMS), Australia and New Zealand virtually met on 15 September 2021 for the 26th AEM-Closer Economic Relations (CER) Consultations. The Consultations were co-chaired by H.E. Dato Dr. Amin Liew Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, Brunei Darussalam; H.E. Dan Tehan MP, Minister for Trade, Tourism and Investment, Australia; and Hon. Phil Twyford, Minister of State for Trade and Export Growth, New Zealand.
2. The Meeting noted that due to the COVID-19 pandemic, the total two-way trade between ASEAN and Australia has contracted by 17.7 percent in 2020, from USD 84.8 billion in 2019 to USD 69.8 billion in 2020, based on Australia’s data. The Meeting also noted that the total two-way trade between New Zealand and ASEAN has contracted by 10.68 per cent from USD 12.6 billion in 2019 to USD 11.3 billion in 2020, based on New Zealand’s data. According to Australia’s and New Zealand’s data, Australia’s Foreign Direct Investment (FDI) outflow to ASEAN in 2020 accounted at USD 1.82 billion, while New Zealand’s FDI outflow to ASEAN for the same year was valued at USD 371.8 million.
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2. The Meeting noted that due to the COVID-19 pandemic, the total two-way trade between ASEAN and Australia has contracted by 17.7 percent in 2020, from USD 84.8 billion in 2019 to USD 69.8 billion in 2020, based on Australia’s data. The Meeting also noted that the total two-way trade between New Zealand and ASEAN has contracted by 10.68 per cent from USD 12.6 billion in 2019 to USD 11.3 billion in 2020, based on New Zealand’s data. According to Australia’s and New Zealand’s data, Australia’s Foreign Direct Investment (FDI) outflow to ASEAN in 2020 accounted at USD 1.82 billion, while New Zealand’s FDI outflow to ASEAN for the same year was valued at USD 371.8 million.
Download the full statement here.
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