The 18th ASEAN Plus Three Finance Ministers' and Central Bank Governors'Meeting (AFMGM+3) has reaffirmed the commitment to strengthening theregion's economic environment through continuing regional financialcooperation.
Malaysia’s Bernama news agency reported that theFinance Ministers and Central Bank Governors of ASEAN, China, Japan andthe Republic of Korea (ASEAN+3) met in Baku, Azerbaijan, on May 3 underthe co-chairmanship of Malaysia, which serves as Chair of ASEAN thisyear, and the RoK.
"Member countries are committed tostrengthening the region's economic environment and responses toexternal shocks through continuing regional financial cooperation asdiscussed and finalised at the 18th AFMGM+3 here," Malaysian Minister ofFinance II Datuk Seri Ahmad Husni Hanadzlah was quoted by Bernama assaying at a press conference the same day.
According to theminister, member countries have reviewed the progress of regionalfinancial cooperation achieved since the last meeting, including theChiang Mai Initiative Multilateralisation (CMIM), ASEAN+3 MacroeconomicResearch Office (AMRO), the Asian Bond Markets Initiatives (ABMI),Future Priorities and ASEAN+3 New Initiatives.
The RoK's DeputyPrime Minister and Minister of Strategy and Finance, Kyunghwan Choisaid the ASEAN+3 remains committed to ensuring that the CMIM isoperationally ready, as well as to further strengthening the mechanismas an essential part of the regional financial safety net.
Healso said the meeting acknowledged AMRO's steady development as anindependent surveillance organisation for the region, and welcomed itscontinuous efforts to improve the quality of its surveillanceactivities.
Choi said the meeting also recognised the progressof the ASEAN+3 Multi-currency Bond Issuance Framework (AMBIF), with thefirst AMBIF pilot issuance expected in the first half of this year.
Membercountries have also endorsed non-binding high-level guiding principlesfor macro-prudential policies and capital flow measures as reference indealing with risks to financial stability.
The 19th AFMGM+3 will be held in Frankfurt, Germany, in 2016, when Laos and China will be the co-chairs of the process.-VNA
Malaysia’s Bernama news agency reported that theFinance Ministers and Central Bank Governors of ASEAN, China, Japan andthe Republic of Korea (ASEAN+3) met in Baku, Azerbaijan, on May 3 underthe co-chairmanship of Malaysia, which serves as Chair of ASEAN thisyear, and the RoK.
"Member countries are committed tostrengthening the region's economic environment and responses toexternal shocks through continuing regional financial cooperation asdiscussed and finalised at the 18th AFMGM+3 here," Malaysian Minister ofFinance II Datuk Seri Ahmad Husni Hanadzlah was quoted by Bernama assaying at a press conference the same day.
According to theminister, member countries have reviewed the progress of regionalfinancial cooperation achieved since the last meeting, including theChiang Mai Initiative Multilateralisation (CMIM), ASEAN+3 MacroeconomicResearch Office (AMRO), the Asian Bond Markets Initiatives (ABMI),Future Priorities and ASEAN+3 New Initiatives.
The RoK's DeputyPrime Minister and Minister of Strategy and Finance, Kyunghwan Choisaid the ASEAN+3 remains committed to ensuring that the CMIM isoperationally ready, as well as to further strengthening the mechanismas an essential part of the regional financial safety net.
Healso said the meeting acknowledged AMRO's steady development as anindependent surveillance organisation for the region, and welcomed itscontinuous efforts to improve the quality of its surveillanceactivities.
Choi said the meeting also recognised the progressof the ASEAN+3 Multi-currency Bond Issuance Framework (AMBIF), with thefirst AMBIF pilot issuance expected in the first half of this year.
Membercountries have also endorsed non-binding high-level guiding principlesfor macro-prudential policies and capital flow measures as reference indealing with risks to financial stability.
The 19th AFMGM+3 will be held in Frankfurt, Germany, in 2016, when Laos and China will be the co-chairs of the process.-VNA
