The 7th ASEM Economic Ministers’ Meeting21-22 September 2017 │ Seoul, Republic of Korea

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As Minister of Trade, Industry and Energy under the new administration of the Republic of Korea, it is my honor to remind you of and invite you to the 7th ASEM Economic Ministers' Meeting (EMM), which will take place for the first time in 12 years in Seoul in September.
I believe this year’s EMM will certainly contribute to enhancing the economic relations not only among ASEM partners but also between our two countries.

First, the EMM will provide an opportunity for Asia and Europe to discuss ways to facilitate and promote trade & investment as well as to develop joint responses to rising protectionism. Trade has been a major driver for economic growth in ASEM partners and the ASEM’s share of global trade increased from 54% in 1995 to 64% in 2015. This makes it all the more important for ASEM partners to work together in response to protectionism.

In addition, the worldwide transformation led by digitalization is opening new possibilities for economic cooperation across borders. In line with this radical change, the EMM will further deepen our discussions on strengthening economic connectivity centering around digital connectivity and enhancing physical connectivity as infrastructure for digitalization.

Lastly, for promoting sustainable and inclusive growth, I believe the EMM will offer a forum to seek the ways to cooperate in response to the so-called 4th Industrial Revolution and the new climate regime under the Paris Agreement. We will also discuss strategies to help MSMEs build capacity for greater participation on the international stage.

I look forward to your valuable insights on these agendas and hope to welcome you to Seoul in September.
Paik Ungyu

Minister of Trade, Industry and Energy
Republic of Korea