THE AEM-USTR CONSULTATION
24 September 2025, Kuala Lumpur Malaysia
JOINT MEDIA STATEMENT
1. The ASEAN Economic Ministers – United States Trade Representative (AEMUSTR) Consultation was held on 24 September 2025 in Kuala Lumpur, Malaysia. The Consultation was co-chaired by H.E. Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade and Industry of Malaysia, and Ambassador Jamieson Greer, United States Trade Representative, United States of America (U.S.). The Meeting welcomed the participation of H.E. Filipus Nino Pereira, Minister of Commerce and Industry, Democratic Republic of Timor-Leste as an observer.
2. The Meeting noted that based on ASEAN’s preliminary statistics, two-way merchandise trade between ASEAN and the U.S. stood at USD 453.2 billion in 2024, whilst foreign direct investment (FDI) inflow from the U.S. to ASEAN was recorded at USD 42.1 billion in the same year. These figures placed the U.S. as ASEAN’s second largest trading partner and ASEAN’s largest source of foreign direct investment last year.
3. The Meeting exchanged views on regional and global economic challenges. The Meeting recognised the importance of the WTO as a forum to advance trade issues, and acknowledged the agreed upon rules in the WTO as key to facilitating global trade. The Meeting further recognised that the WTO has challenges and needs meaningful, necessary, and comprehensive reform to improve all its functions, through innovative approaches, to be more relevant and responsive in light of today’s realities. The Meeting also acknowledged the positive role of plurilateral negotiations at the WTO for advancing issues of interest to Members and expressed its determination to work closely together in the lead up to the 14th WTO Ministerial Conference (MC14), to be held in Cameroon in March 2026.
4. The Meeting welcomed the implementation of the 2024-2025 ASEAN-U.S. Trade and Investment Framework Arrangement (TIFA) Work Plan, which delivered good outcomes in many areas including digital economy, trade facilitation, intellectual property rights, good regulatory practices, and agriculture, and the endorsement of the 2025-2026 ASEAN-U.S. TIFA Work Plan, including activities on the digital economy, MSME development, trade facilitation, intellectual property rights, good regulatory practices, labour, agriculture, and competition and consumer protection. The Meeting reiterated its interest for constructive engagement to strengthen resilient regional supply chains and drive innovative initiatives to ensure a mutually beneficial economic relationship.
5. The Meeting noted Timor-Leste's continued commitment to the Roadmap for Timor-Leste’s Full Membership in ASEAN and looked forward to the full and effective fulfilment of all the criteria outlined in the Roadmap. The Meeting reaffirmed its support for Timor-Leste’s integration efforts into ASEAN and expressed readiness to provide continued capacity building and technical assistance to facilitate its effective inclusion into the regional economy.
6. The Meeting noted the US-ASEAN Business Council (USABC)’s recommendations and expressed support for continued collaboration between the USABC and ASEAN especially in strengthening digital economic engagement, including through capacity building initiatives in support of the development of the ASEAN Digital Economy Framework Agreement (DEFA) and activities to enhance the competitiveness of MSMEs in the digital economy.
