Joint Media Statement of the Twenty-Ninth AEM – Closer Economic Relations (CER) Consultation
21 September 2024
- The Twenty-Ninth AEM-Closer Economic Relations (AEM-CER Consultation was held on 21 September 2024 in Vientiane, Lao PDR. The Consultation was cochaired by H.E. Malaithong KOMMASITH, Minister of Industry and Commerce of Lao PDR; Senator the Hon Tim Ayres, Assistant Minister for Trade, Australia; and the Hon Nicola Grigg, Minister of State for Trade, New Zealand. The Meeting also welcomed the participation of H.E. Filipus Nino Pereira, Minister of Commerce and Industry, Democratic Republic of Timor-Leste as an observer.
- The Meeting noted that the economies of ASEAN, Australia, and New Zealand have recovered from the COVID-19 pandemic. The total two-way trade between ASEAN and Australia reached a total value of USD 121.9 billion in 2023, based on Australia’s data. The Meeting also noted that the total two-way trade between New Zealand and ASEAN reached a total value of USD 16.54 billion in 2023, 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 2023 amounted at USD 243 million, while New Zealand’s FDI flow to ASEAN for the same year was valued at USD 61.54 million.
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