At the press conference (Photo: VNA) Hanoi (VNA) – The sixthASEAN Finance Ministers and Central Bank Governors’ Meeting (AFMGM) was heldonline in Hanoi on October 2.
The most important event in aseries of regional finance-banking cooperation activities hosted by Vietnamthis year, the AFMGM was co-chaired by Finance Minister Dinh Tien Dung andGovernor of the State Bank of Vietnam Le Minh Hung.
Participants discussed globaland regional macro-economic situation, COVID-19 response policies as well asmeasures to support economic recovery following the pandemic. They alsoconsidered the launch of cooperation initiatives within the framework of theASEAN monetary-financial integration roadmap.
Due to uncertainties causedby the pandemic, they highlighted the need to step up technological applicationand digital transformation in financial-banking services which, they said, willcontribute to a sustainable regional economy resilient to shocks similar to COVID-19.
About regional financialcooperation initiatives, officials lauded progress made by working groups. Oncapital market development, they approved a report on promoting sustainablefinance in ASEAN with valuable recommendations for member states.
They also acknowledgednegotiation outcomes of the Working Group on Financial Services Liberalisation andthe ninth package of financial commitments under the ASEAN Framework Agreement on Services.
The meeting adopted the draftrevised Roadmap to the ASEAN Insurance Integration Framework, spoke highly ofcooperation outcomes of working groups in the banking sector with almost allthe targets set early this year being met.
Central bank governors also approveda number of cooperation initiatives, including a report on the role of the centralbanks in climate and environment risks, principles of Sustainable Banking in ASEANproposed by Vietnam, and the cyber security risk information sharing programme (CRISP), among others.
With highconsensus, delegates approved a Joint Statement of the sixth AFMGM.
Later,Finance Minister Dung and State Bank Governor Hung co-chaired a pressconference announcing the outcomes of the meeting./.
The most important event in aseries of regional finance-banking cooperation activities hosted by Vietnamthis year, the AFMGM was co-chaired by Finance Minister Dinh Tien Dung andGovernor of the State Bank of Vietnam Le Minh Hung.
Participants discussed globaland regional macro-economic situation, COVID-19 response policies as well asmeasures to support economic recovery following the pandemic. They alsoconsidered the launch of cooperation initiatives within the framework of theASEAN monetary-financial integration roadmap.
Due to uncertainties causedby the pandemic, they highlighted the need to step up technological applicationand digital transformation in financial-banking services which, they said, willcontribute to a sustainable regional economy resilient to shocks similar to COVID-19.
About regional financialcooperation initiatives, officials lauded progress made by working groups. Oncapital market development, they approved a report on promoting sustainablefinance in ASEAN with valuable recommendations for member states.
They also acknowledgednegotiation outcomes of the Working Group on Financial Services Liberalisation andthe ninth package of financial commitments under the ASEAN Framework Agreement on Services.
The meeting adopted the draftrevised Roadmap to the ASEAN Insurance Integration Framework, spoke highly ofcooperation outcomes of working groups in the banking sector with almost allthe targets set early this year being met.
Central bank governors also approveda number of cooperation initiatives, including a report on the role of the centralbanks in climate and environment risks, principles of Sustainable Banking in ASEANproposed by Vietnam, and the cyber security risk information sharing programme (CRISP), among others.
With highconsensus, delegates approved a Joint Statement of the sixth AFMGM.
Later,Finance Minister Dung and State Bank Governor Hung co-chaired a pressconference announcing the outcomes of the meeting./.
VNA
