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Joint Media Statement of the Twenty Seventh AEM-CER Consultations, Siem Reap, Cambodia, 18 September 2022

18 September 2022

1.  ASEAN Member States (AMS), Australia and New Zealand met on 18 September 2022 for the 27th ASEAN Economic Ministers – Closer Economic Relations (AEM-CER) Consultation. The Consultation was co-chaired by H.E. PAN Sorasak, Minister of Commerce, Kingdom of Cambodia; Senator the Hon Tim Ayres, Assistant Minister for Trade, Australia; and the Hon Phil Twyford, Minister of State for Trade and Export Growth, New Zealand.
2  The Meeting noted that the economies of ASEAN, Australia, and New Zealand continued to recover from the COVID-19 pandemic. The total two-way trade between ASEAN and Australia increased by 26.4 percent in 2021, from USD 75.56 billion in 2020 to USD 95.51 billion in 2021, based on Australia’s data. The Meeting also noted that the total two-way trade between New Zealand and ASEAN increased by 7 percent from USD 11.3 billion in 2020 to USD 12.05 billion in 2021, based on New Zealand’s data. According to Australia’s and New Zealand’s data, Australia’s foreign direct investment (FDI) flow to ASEAN in 2021 amounted at USD 20.57 billion, while New Zealand’s FDI flow to ASEAN for the same year was valued at USD 340.26 million.

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