The Department of Finance said yesterday that the finance chiefs of Asean’s member-states would exchange views on further harnessing investment opportunities within the 10-member regional bloc amid the current slowdown in global growth at the 12th Asean Finance Ministers Investors Seminar (Afmis) to be held tomorrow in Lapu-Lapu City.
The DOF mentioned that the Asean finance ministers would also discuss the progress of the AEC, which is designed to create a single market and production base within the Southeast Asian region through the free flow of goods, skilled labor, services and investments among its 10 member-economies.
The DOF also added that the finance chiefs will tackle issues on regional connectivity as well as current events and other issues relevant to Asean members, including topics ranging from infrastructure investment and e-commerce to trade facilitation and the region’s rising consumer market.
Accordingly the DOF, the Asean finance ministers and central bank governors are set to discuss ways to flesh out Asean’s commitments to financial integration and cooperation against the backdrop of a new wave of protectionism and other uncertainties in the global economy.
According to Asean’s website, “ABIF ( Asean Banking Integration Framework) recognizes that some countries are more ready than others to further open up their banking sector. Hence, the current focus is on pursuing bilateral reciprocal arrangements.”
April 05, 2017
By Philippine Daily Inquirer
Asia News Network