The ASEAN Finance Ministers reaffirmed their commitments to boost financial cooperation in the region and realize the ASEAN Economic Community (AEC) by 2015.
The affirmation was made in a joint statement issued on April 4 upon the end of the 12th ASEAN Ministers’ Meeting.
The ministers discussed external challenges to the region arising from financial market turbulence, volatile capital flows and the possibility of a more prolonged and sharper global slowdown, according to the statement.
They also discussed cooperation in such domains as insurance, taxation, customs and capital raising for ASEAN’s infrastructure.
The delegates noted the importance of strengthening ASEAN’s regional initiatives on food and energy security to safeguard the region’s sustainable economic growth and development.
They also mentioned harmonization activities to develop ASEAN and Plus Standards to facilitate greater efficiency in the cross-border issuance of equity and debt securities in order to improve the attractiveness and competitiveness of ASEAN as a fund-raising center.-