ASEAN countries pledge to cooperate for regional economic stability
The ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) and related meetings, taking place from August 22-25, are expected to affirm a commitment to collaboration in maintaining economic stability in the region.
An overview of a seminar on Energy Transition Mechanism: ASEAN Country Updates in Jakarta on August 23. (Photo: VNA)
Jakarta (VNA) –The ASEAN Finance Ministers and Central Bank Governors Meeting (AFMGM) andrelated meetings, taking place from August 22-25, are expected ꦰtoaffir♓m a commitment to collaboration in maintaining economic stability in the region.
The meetings broughttogether finance ministers and central bank governors from nine ASEAN countriesnamely Indonesia, Brunei, Cambodia, Laos, Malaysia, the Philippines,Singapore, Thailand, and Vietnam as well as a representative of Timor-Leste asan observer.
The AFMGM is the secondmeeting after the first one held in Bali in March, which is intended to monitor and update progress onachievements in the Priority Economic Deliverables (PED) and to discuss thecurrent issues of major concern to ASEAN member countries.
It will focus on several main agendas, such asGlobal Economic Update and Risks, Regional Economic Outlook and Challenges, andPolicy Dialogue, which concentrates on the issue of infrastructure financing andpromoting sustainable financing.
The AFMGM is expectedto endorse a Joint Ministerial Statement (JMS) that records the development ofvarious initiatives,💛 joint agreements, and directions from the financeministers and central bank governors in relation to action plans and follow-upon various cooperation agendas discussed at the ASEAN financial cooperationforum.
According to Indonesia’sFinance Ministry, the three PEDs under the financial sector cooperationframework comprise efforts to encourage recovery and ensure financial andeconomic stability and resilience (Recovery-Rebuilding); improve payment connectivity,encourage digital and financial literacy and inclusion to support inclusiveeconomic growth (Digital Economy), and promote transition financing to supportsustainable finance and a green economy. The ASEAN Finance andHealth Ministers Meeting (AFHMM) will also be held on this occasion. According to head of theRegional and Bilateral Policy Centre of the Finance Ministry Yogi Rahmayanti, thisis the first time that ASEAN has seen the right momentum and the need to prepare torespond to health challenges in the region. AFHMM will discuss the statusof COVID-19, health challenges, the ASEAN Response Fund, especially financial gapsin dealing with the pandemic, and suggest ways to address these gaps, she said./.
ASEAN Economic Ministers (AEM) and economic officials of Russia met in Semarang, Indonesia, on August 21 during the 12th AEM-Russia Consultation which was co-chaired by Indonesian Minister of Trade Zulkifli Hasan and Russian Deputy Minister of Economic Development Vladimir Ilyichev.
Parties to the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), gathered in Semarang, Indonesia, for the 28th ASEAN Economic Ministers – Closer Economic Relations (AEM-CER) Consultation, commenced the signing of the 2nd Protocol to Amend the Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (“2nd Protocol”).
Vietnam attended consultations between ASEAN economic ministers and their counterparts from Australia, New Zealand, the Republic of Korea and Japan, on August 22 in the framework of the 55th ASEAN Economic Ministers Meeting (AEM) in Indonesia.
Deputy Minister of Natural Resources and Environment Vo Tuan Nhan presented three proposals of Vietnam in his remarks at the 17th ASEAN Ministerial Meeting on Environment (AMME), held in Vientiane on August 23.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
An overview of a seminar on Energy Transition Mechanism: ASEAN Country Updates in Jakarta on August 23. (Photo: VNA) 
