Cambodia's Senior Minister and Minister of Commerce H.E. Sun Chanthol attended yesterday afternoon the Fourteenth AEM-EU Trade Commissioner Consultations in Chiang Mai, Thailand.
According to the Ministry of Commerce's news release, this meeting was co-chaired by H.E. Ms. Khemmani Pholsena, Minister of Industry and Commerce of Lao PDR and H.E. Ms. Cecilia MalmstrAlm, the EU Trade Commissioner.
The ASEAN Economic Ministers and the EU Trade Commissioner discussed a number of issues related to the implementation of the ASEAN-EU Trade and Investment Work Programme 2015-2016, the joint stock-taking undertaken by both ASEAN and EU Senior Economic Officials, and the future direction of ASEAN-EU Relations, including the possibility of resuming the negotiations of ASEAN-EU Free Trade Agreement.
The Ministers and the EU Trade Commissioner also exchanged views on the recent global and regional economic developments. They reaffirmed their commitments to strengthen economic cooperation in order to deepening economic relations between the two regions.
The Ministers and the EU Trade Commissioner noted the strong trade and investment relations between the two regions. EU was ASEAN's second largest trading partner and largest source of FDI inflows.
In 2015, ASEAN-EU two-way trade stood at Euros 201 billion, an 11 percent increase year-on-year, based on EU statistics. In 2014 Foreign Direct Investment (FDI) inflows from the EU increased by 31.5 percent to US$29.3 billion, accounting for 21.5 percent of the total FDI inflows into ASEAN.