ASEAN+3 finance ministers and central bank governors conclude meeting in Milan underlining economic goals and financial cooperation.
Finance ministers and central bank heads from ASEAN, along with China, Japan, and South Korea, collectively known as ASEAN Plus Three (10+3), concluded their 28th annual meeting on Sunday.
This year’s meeting, jointly chaired by China and Malaysia, addressed regional and global macroeconomic trends and financial collaboration within the 10+3 framework, resulting in a joint statement.
The joint statement highlighted support for revising strategic plans for 10+3 financial cooperation and announced the introduction of technical assistance measures to help tackle long-term structural issues.
Participants acknowledged progress in discussions on the Chiang Mai Initiative Multilateralization, welcomed the new ASEAN+3 Macroeconomic Research Office director, and endorsed the expansion of the region’s financial think-tank network.
The 10+3 countries also recognized the ongoing development of regional local bond markets and endorsed a future roadmap for the Disaster Risk Financing Initiative.
Chinese Finance Minister Lan Fo’an noted that the global economy is experiencing major shifts, with unilateralism and protectionism challenging globalization.
Despite these global pressures, he emphasized the resilience and potential of the ASEAN+3 economies.
Lan reaffirmed China’s commitment to working with ASEAN+3 countries to promote openness, deepen regional financial ties, and provide stability amid global uncertainty.
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