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Philippines calls for stronger ASEAN Plus Three cooperation to boost financial resilience

While each country in ASEAN faces its own domestic pressures, a coordinated regional approach is essential to safeguarding stability and enhancing resilience against external shocks.

Hanoi, March 23 (VNA) – The Philippines, Chair of ASEAN in 2026, is calling for concrete measures to strengthen financial resilience and deepen cooperation among ASEAN Plus Three countries, its Department of Finance said on March 23.

The department noted that closer collaboration among the member states of the Association of Southeast Asian Nations (ASEAN), along with China, Japan and the Republic of Korea, is increasingly critical amid global uncertainty.

It added that while each country faces its own domestic pressures, a coordinated regional approach is essential to safeguarding stability and enhancing resilience against external shocks.

As part of this effort, the Philippines is advocating stronger regional disaster risk financing mechanisms to address climate-related threats, according to the department.

The ASEAN Plus Three framework serves as a platform for dialogue on financial and macroeconomic developments, as well as for addressing shared risks./.

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