Kuala lumpur: ASEAN, together with China, Japan and South Korea (ASEAN Plus Three), must join forces to maintain and stabilise their sophisticated and delicate supply chain network like clockwork, while coping with changes in the global trade environment, said South Korean Minister for Trade Yeo Han-Koo.
According to BERNAMA News Agency, Yeo described supply chain resilience and cooperation as a common interest among the ASEAN Plus Three economies, which for decades have developed a complex and interdependent global supply chain network. He emphasized that these economies are linked through a network of trade agreements, highlighting the intricate web of connections that facilitate their economic interactions.
Yeo noted that South Korea has bilateral free trade agreements with both ASEAN and China, while South Korea and Japan are also linked via the Regional Comprehensive Economic Partnership (RCEP). He pointed out the significant global economic impact of these nations combined, with their populations accounting for approximately 28 percent of the world and their gross domestic product representing about 27 percent. In terms of manufacturing value-added, they contribute nearly half of the world’s manufacturing activities.
Chinese Vice Minister of Commerce Yan Dong echoed the sentiment during his opening remarks, reiterating China’s readiness to boost regional cooperation through the ASEAN Plus Three framework. He described it as a mature mechanism that has significantly contributed to East Asia’s sustainable growth and stability. Yan expressed China’s support for stronger trade and investment linkages with ASEAN, Japan, and South Korea.
Yan, who spoke in Chinese with his remarks translated into English, highlighted that China’s trade with Japan and South Korea reached US$1.1 trillion in the first eight months of 2025, marking a six percent increase and accounting for 26.8 percent of China’s total trade. He also noted China’s substantial investment of more than US$7 trillion.
The working lunch session was chaired by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. It brought together ASEAN economic ministers and their counterparts, including Japan’s Minister of Economy, Trade and Industry (METI) Muto Yoji, as well as senior officials from the ASEAN Secretariat.