Financial-monetary integration: Vital component of ASEAN economic integration
VGP - ASEAN now becomes a comprehensive and dynamic regional political-economic entity playing an important role in the world. The bloc is speeding up its economic integration, especially financial-monetary component.
The 14th ASEAN
Finance Ministers’ Meeting (AFMM-14), the third one held in Việt
Addressing
the opening session, Deputy PM Nguyễn Sinh Hùng underlined that as a comprehensive and dynamic regional political-economic
entity playing an important role in the world, ASEAN is now speeding up its
economic integration, especially finance-monetary as a vital component.
He asserted that ASEAN’s action plan on capital market development, liberalization of
financial services, insurance, customs and banking cooperation is very important.
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| Delegates to the 14th ASEAN Finance Ministers’ Meeting, April 8, 2010 - Photo: VGP/Kiều Liên |
The AFMM-14, drawing the presence
of representatives of the World Bank, the International Monetary Fund, and the
Asia Development Bank, is a chance for participants to share opinions about the
world and regional economic prospect, analyze potential risks and put forth
effective solutions for vigorous, sustainable and balanced economic development,
said Mr. Hùng.
He emphasized that the
recent financial-economic crisis urges economies to tighten their supervision and
take flexible measures to respond to external impacts.
He also suggested the
participants to center their discussions on issues of common concern for ASEAN and
G20, namely climate change and financial safety at national, regional and
international levels.
