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ASEAN Finance Ministers' Meeting opens in Singapore

ASEAN Finance Ministers began their 22nd meeting in Singapore on April 6.
ASEAN Finance Ministers' Meeting opens in Singapore ảnh 1Scene at the 22nd ASEAN Finance Ministers Meeting in Singapore (Photo: VNA)

Singapore, (VNA) – ASEAN Finance Ministers begantheir 22nd meeting in Singapore on April 6.

The meeting was attended by representatives from the ASEANSecretariat, International Monetary Fund, World Bank, Asian Development Bank, ASEAN +3and Macroeconomic Research Office.

The Vietnamese delegation to the event was led by DeputyFinance Minister Tran Xuan Ha.

Chairing the function, Singaporean Finance Minister HengSwee Keat said in his opening remarks that the ministers meet at a time ofoptimism for the regional economies.

He quoted the International Monetary Fund data which show theASEAN economy grew by 5.1 percent in 2017 and is expected to outstrip mostother regions in 2018.

However, the minister warned that the region is still facingchallenges, including rising protectionism and trade tensions, which withoutgood management can affect the bloc’s growth.

He said in the context, Singapore, as ASEAN chair this year,is committed to working with other member countries to boost regional trade andinvestment, particularly in financing infrastructure projects that connecteconomies in the region.

Participating ministers were updated on implementation progressof initiatives on ASEAN financial connectivity, including those on capitalmarket liberation, infrastructure financing, customs cooperation, andprevention of money laundering, among others.

Outcomes of ASEAN 3 financial cooperation initiatives likethe Chiang Mai Initiative Multilateralisation and Asian Bond Markets Initiativewere also tabled.

The ministers are expected to discuss priorities set forthis year as proposed by Singapore.-VNA 
VNA

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