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The 25th ASEAN+3 Finance Ministers' And Central Bank Governors' Meeting

Yang Mulia Dato Seri Paduka Dr Haji Abdul Manaf bin Haji Metussin, Acting Minister at the Prime Minister’s Office and Minister of Finance and Economy II attended the 25th ASEAN Plus Three Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) via video conference on Thursday, 12 May 2022. Also present at the Meeting was Yang Mulia Dayang Hajah Rokiah binti Haji Badar, Managing Director of the Brunei Darussalam Central Bank (BDCB).

The ASEAN Plus Three Finance Ministers and Central Bank Governors Meeting is a ministerial level platform where representatives from ASEAN Member States, People’s Republic of China, Japan and Republic of Korea discuss ways to strengthen regional financial cooperation.

The Meeting exchanged views on current global and regional economic outlook as well as policy responses to risks and challenges. ASEAN+3 Ministers and Governors agreed that even though the region collectively continue to register growth, it must remain mindful of downside risks and ASEAN+3 countries should take appropriate policy actions to ensure robust long-term growth and development.

In his intervention, acknowledging the risks to the regional economic outlooks, Yang Mulia Dato Dr. emphasised for ASEAN+3 countries to work together in addressing common challenges, among others, by supporting efforts to ensure resilient regional supply chains especially for essential products and commodities. Yang Mulia Dato Dr. subsequently shared initiatives that Brunei Darussalam has implemented to facilitate cross-border trade and to address the impacts of the global inflation.

The Meeting also discussed progress of regional financial cooperation, in particular the Chiang Mai Initiative Multilateralisation; strengthening the ASEAN+3 Macroeconomic Research Office; the Asian Bond Market Initiative and the strategic directions of the ASEAN+3 cooperation.

The Joint Statement of the 25th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting, adopted by the Head of Delegations, is available for download via the ASEAN Secretariat website.

Yang Mulia Dyg Suraya binti Haji Jaidin, Permanent Secretary (Performance and Corporate) of MOFE, Yang Mulia Dyg Hajah Noorrafidah binti Sulaiman, Deputy Managing Director (Monetary Operations/Development and International) of BDCB, officials from Division of International Affairs of MOFE and BDCB, were also in attendance at the Meeting.