Finance ministers of 10 ASEAN countries and China, Japan and the Republic of Korea (ASEAN+3) said they are pleased about the implementation of the regional financial cooperation agreements during their 13 th meeting held in Tashkent, Uzbekistan on May 2.
In a joint statement issued at the meeting, the ministers stressed the leading role of the East Asian region in accelerating the recovery of the world economy. However, the statement raised concern about big challenges the region is facing, including the restructuring of its economy.
The Association of Southeast Asian Nations (ASEAN) should focus on regulating the macro economy, strengthening financial-banking cooperation, and maintaining the economic-financial stability in the region as well as boosting the recovery and sustainable growth, the statement said, adding that the countries need to consider suitable time to withdraw their economic stimulus measures.
The ASEAN+3 ministers called for restructuring the economy, ostracising trade protectionism and working for the strong, sustainable and balanced economic growths in the region and the world as well.
They also expressed their support for the Chiang Mai Initiative Multilateralisation (CMIM), which officially came into effect on March 24, and reached a consensus on a regional economic surveillance mechanism./.
