ASEAN finance ministers commit to promoting economic growth
Finance ministers and central bank governors of the Association of Southeast Asian Nations (ASEAN) have agreed to promote economic growth and financial integration, and strengthen financial stability in the region.
ASEAN finance ministers commit to promoting economic growth. (Photo: AFP)
Hanoi(VNA) - Finance ministers and central bank governors of the Association ofSoutheast Asian Nations (ASEAN) have agreed to promote economicgrowth and financial integration, and strengthen financial stability in the region.
The commitment was detailed in a joint statement,which was issued at the thirdFinance Ministers and ASEAN Central Governors’ Joint Meeting, which concluded inCebu, the Philippines on April 7.
According to the joint statement, ASEAN’s finance ministers and centralbank governors pledged to pursue the bloc’s objectives to build a highlyintegrated and cohesive economy, which is competitive, innovative, and dynamic,through intra-bloc cooperation.
They also committed to bolstering cooperation among regional countries, towardsachieving the ASEAN Economic Community (AEC) by 2025 and establish a strong associatedcapital market of the region, and ensure effective development of ASEAN GreenBond Initiatives.
Participants also adopted a financialinitiative, which aims help ASEAN member nations access more financial productsand services.
They stressed the need for regional countries to reinforce their productionsectors to meet domestic demand, saying that this is key factor to promoteeconomic development in the region.
Participants affirmed that policies related to economic restructuring, publicexpenditure, and financial stimulus programmes will help attract moreinvestment flows to the region.
During the meeting, measures to promote use of a common currency in tradetransaction, investment and payment among ASEAN member nations was also tabled.
Participants also focused their discussionon how to help the bloc’s member nations enhance capacity to recover their economyafter natural disasters.-VNA
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ASEAN finance ministers commit to promoting economic growth. (Photo: AFP) 
