Vice governors of central banks from the Association of Southeast Asian Nations (ASEAN) gathered for their meeting in Nha Trang city, the southern central province of Khanh Hoa, on April 4.
The 18th ASEAN Central Bank Deputies’ Meeting (ACDM 18) was held to prepare contents for the 6th ASEAN Central Bank Governors’ Meeting (ACGM 6), the ASEAN Finance Ministers’ Meeting and the ASEAN + 3 meeting scheduled for April 7-8 in Nha Trang city.
Participants discussed main contents in initiatives for financial and monetary cooperation in the grouping, including a roadmap for ASEAN financial and monetary integration, banking and financial cooperation among ASEAN and its three partners – China, Japan and the Republic of Korea .
ASEAN member countries had by the end of March completed their national reports on assessment, definition of regulations relating to foreign direct investment (FDI) flow within the framework cooperation on capital account liberalisation, according to the meeting.
The central bank deputies agreed with a proposal to set up a working group on regional payment system to submit to the ACGM 6 for approval.
In ASEAN+3 financial cooperation, the meeting continued assess issues relating to the Chiang Mai Initiative Multilateralisation (CMIM) process, saying that the CMIM agreement was signed in late 2009 and took effect on March 24.
Relevant countries recently exchanged letters of commitment on contribution to the CMIM, showing strong determination to provide mutual assistance to overcome difficulties on payment balance, stabilise macro-economy and combat impacts from the global financial crisis.
The meeting also focused on other issues such as progress of financial liberalisation, initiative for Asia bond market development and fight against monetary laundering and terrorism sponsoring./.
The 18th ASEAN Central Bank Deputies’ Meeting (ACDM 18) was held to prepare contents for the 6th ASEAN Central Bank Governors’ Meeting (ACGM 6), the ASEAN Finance Ministers’ Meeting and the ASEAN + 3 meeting scheduled for April 7-8 in Nha Trang city.
Participants discussed main contents in initiatives for financial and monetary cooperation in the grouping, including a roadmap for ASEAN financial and monetary integration, banking and financial cooperation among ASEAN and its three partners – China, Japan and the Republic of Korea .
ASEAN member countries had by the end of March completed their national reports on assessment, definition of regulations relating to foreign direct investment (FDI) flow within the framework cooperation on capital account liberalisation, according to the meeting.
The central bank deputies agreed with a proposal to set up a working group on regional payment system to submit to the ACGM 6 for approval.
In ASEAN+3 financial cooperation, the meeting continued assess issues relating to the Chiang Mai Initiative Multilateralisation (CMIM) process, saying that the CMIM agreement was signed in late 2009 and took effect on March 24.
Relevant countries recently exchanged letters of commitment on contribution to the CMIM, showing strong determination to provide mutual assistance to overcome difficulties on payment balance, stabilise macro-economy and combat impacts from the global financial crisis.
The meeting also focused on other issues such as progress of financial liberalisation, initiative for Asia bond market development and fight against monetary laundering and terrorism sponsoring./.
