Vice governors of central banks from theAssociation of Southeast Asian Nations (ASEAN) gathered for theirmeeting 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 toprepare contents for the 6th ASEAN Central Bank Governors’ Meeting(ACGM 6), the ASEAN Finance Ministers’ Meeting and the ASEAN + 3 meetingscheduled for April 7-8 in Nha Trang city.
Participants discussed main contents in initiatives for financial andmonetary cooperation in the grouping, including a roadmap for ASEANfinancial and monetary integration, banking and financial cooperationamong ASEAN and its three partners – China, Japan and theRepublic of Korea .
ASEAN member countries had by the end of March completed their nationalreports on assessment, definition of regulations relating to foreigndirect investment (FDI) flow within the framework cooperation on capitalaccount liberalisation, according to the meeting.
The central bank deputies agreed with a proposal to set up a workinggroup on regional payment system to submit to the ACGM 6 for approval.
In ASEAN+3 financial cooperation, the meeting continued assess issuesrelating to the Chiang Mai Initiative Multilateralisation (CMIM)process, saying that the CMIM agreement was signed in late 2009 and tookeffect on March 24.
Relevant countries recently exchanged letters of commitment oncontribution to the CMIM, showing strong determination to provide mutualassistance to overcome difficulties on payment balance, stabilisemacro-economy and combat impacts from the global financial crisis.
The meeting also focused on other issues such as progress of financialliberalisation, initiative for Asia bond market development and fightagainst monetary laundering and terrorism sponsoring./.
The 18th ASEAN Central Bank Deputies’ Meeting (ACDM 18) was held toprepare contents for the 6th ASEAN Central Bank Governors’ Meeting(ACGM 6), the ASEAN Finance Ministers’ Meeting and the ASEAN + 3 meetingscheduled for April 7-8 in Nha Trang city.
Participants discussed main contents in initiatives for financial andmonetary cooperation in the grouping, including a roadmap for ASEANfinancial and monetary integration, banking and financial cooperationamong ASEAN and its three partners – China, Japan and theRepublic of Korea .
ASEAN member countries had by the end of March completed their nationalreports on assessment, definition of regulations relating to foreigndirect investment (FDI) flow within the framework cooperation on capitalaccount liberalisation, according to the meeting.
The central bank deputies agreed with a proposal to set up a workinggroup on regional payment system to submit to the ACGM 6 for approval.
In ASEAN+3 financial cooperation, the meeting continued assess issuesrelating to the Chiang Mai Initiative Multilateralisation (CMIM)process, saying that the CMIM agreement was signed in late 2009 and tookeffect on March 24.
Relevant countries recently exchanged letters of commitment oncontribution to the CMIM, showing strong determination to provide mutualassistance to overcome difficulties on payment balance, stabilisemacro-economy and combat impacts from the global financial crisis.
The meeting also focused on other issues such as progress of financialliberalisation, initiative for Asia bond market development and fightagainst monetary laundering and terrorism sponsoring./.
