Finance ministers and central bank governors from the Group of 20 advanced and major developing economies applauded contributions by Vietnam, in its capacity as ASEAN representative, to the success of their meeting in the Republic of Korea (RoK) on June 4-5.
The meeting in the southeastern city of Busan laid the groundwork for discussions at the G-20 leaders' summit scheduled to take place in Toronto, Canada , later this month.
Vietnam ’s Finance Minister Vu Van Ninh delivered a speech at the meeting, highlighting the Association of Southeast Asian Nations (ASEAN)’s role in global economic development and affirming the bloc’s support for issues of mutual concern of G-20.
Ninh said ASEAN member countries pledged to step up regional financial cooperation by fostering the implementation of initiatives that are designed to facilitate liberalisation of financial services, integration of capital markets and improve accounting standards, as well as the Asian Bond Markets Initiative (ABMI) and the Chiang Mai Initiative Multilateralisation (CMIM).
The minister spoke highly of G-20’s Framework for Strong, Sustainable and Balanced Growth, and urged the group to consider balance factors between developed and developing nations, speed up reforms and cut protectionism to reduce impacts on liberalisation of trade and financial services, and capital flows.
Under the chairmanship of the host country and Canada , the meeting looked into prospects for the global economy and implementation of G-20’s major policies and adopted a joint communique calling for greater efforts to reform global financial system.
On the sidelines of the meeting, Ninh met with Dutch Minister of Economic Affairs Maria van de Hoeven to discuss ways to boost economic-financial relations between the two nations.
Ninh also held a meeting with the RoK’s Minister of Strategy and Finance, Yoon Jeung-hyun, to prepare for ASEAN’s contributions to the cooperation process of G-20./.
The meeting in the southeastern city of Busan laid the groundwork for discussions at the G-20 leaders' summit scheduled to take place in Toronto, Canada , later this month.
Vietnam ’s Finance Minister Vu Van Ninh delivered a speech at the meeting, highlighting the Association of Southeast Asian Nations (ASEAN)’s role in global economic development and affirming the bloc’s support for issues of mutual concern of G-20.
Ninh said ASEAN member countries pledged to step up regional financial cooperation by fostering the implementation of initiatives that are designed to facilitate liberalisation of financial services, integration of capital markets and improve accounting standards, as well as the Asian Bond Markets Initiative (ABMI) and the Chiang Mai Initiative Multilateralisation (CMIM).
The minister spoke highly of G-20’s Framework for Strong, Sustainable and Balanced Growth, and urged the group to consider balance factors between developed and developing nations, speed up reforms and cut protectionism to reduce impacts on liberalisation of trade and financial services, and capital flows.
Under the chairmanship of the host country and Canada , the meeting looked into prospects for the global economy and implementation of G-20’s major policies and adopted a joint communique calling for greater efforts to reform global financial system.
On the sidelines of the meeting, Ninh met with Dutch Minister of Economic Affairs Maria van de Hoeven to discuss ways to boost economic-financial relations between the two nations.
Ninh also held a meeting with the RoK’s Minister of Strategy and Finance, Yoon Jeung-hyun, to prepare for ASEAN’s contributions to the cooperation process of G-20./.
