​Yang Berhormat Dato Seri Setia Dr. Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II attended the 27th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (27th AFMGM+3) and the 57th Asian Development Bank (57th ADB) Annual Meeting which was held in Tbilisi, Georgia on 3 to 5 May 2024.

The 27th AFMGM+3 Meeting, 3 May 2024

Also present at the 27th AFMGM+3 Meeting was Yang Mulia Dayang Hajah Rokiah binti Haji Badar, Managing Director of the Brunei Darussalam Central Bank (BDCB). 

The Meeting discussed key economic developments and heard presentations delivered by International Financial Institutions (IFIs) namely the Asian Development Bank (ADB), the International Monetary Fund (IMF) and the ASEAN+3 Macroeconomic Research Office (AMRO). In addition to the regional economic outlook, ASEAN Finance Ministers and Central Bank Governors also discussed policy responses to risks and challenges and ways to further 2 strengthen regional financial cooperation through initiatives such as the Regional Financing Arrangement (RFA) Future Direction and the Chiang Mai Initiative Multilateralization (CMIM), Asian Bond Markets Initiative (ABMI), Disaster Risk Financing (DRF) and the ASEAN+3 Future Initiatives. 

During the session on exchange of views, Yang Berhormat Dato Dr. Minister at the Prime Minister’s Office and Minister of Finance and Economy II conveyed Brunei Darussalam’s views as follows: 

i) Emphasising the importance of close collaboration between ASEAN + 3 Member Countries, in alignment with strategic insights and support from IFIs including the ADb, IMF and AMRO; 

ii) Encouraged IFIs to continue offering timely and insightful surveillance that can support and guide the work of policy makers including through the following approaches: 

• Coordinated approaches in monetary, fiscal and structural policies and reforms will boost efforts to overcome challenges;
• Strengthening the role and effectiveness of multilateral institutions can enhance their capacity to support member countries through financial assistance, policy advice and technical assistance; and 
• Maintaining open economies and free flow of trade is essential for regional prosperity and stability and in supporting this objective, Brunei Darussalam welcomes efforts to diminish trade barriers and foster greater integration. 

Ministers and Governors endorsed the Joint Statement of the 27th AFMGM+3 which appears as Annex A.

Yang Mulia Awang Haji Asrul Adrain bin Pehin Orang Kaya Setia Pahlawan Dato Seri Setia Dr. Haji Ahmad, Acting Permanent Secretary (Fiscal I) at the Ministry of Finance and Economy and Yang Mulia Dayang Hajah Noorafidah binti Haji Sulaiman, Deputy Managing Director at the Brunei Darussalam Central Bank were also present during the 27th AFMGM+3 Meeting.

The 57th ADB Annual Meeting, 4 – 5 May 2024

Under the theme “Bridging the Future”, the Meeting discussed the global economic landscape, international cooperation and how the ADB, together with other MDBs, can support developing member countries to tackle challenges and risks posed by climate change, inflation, food insecurity and geopolitical tensions. 

Yang Berhormat Dato Dr. Minister at the Prime Minister’s Office and Minister of Finance and the Economy II and His Excellency Masatsugu Asakawa, the President of the ADB, held a bilateral meeting on the sidelines of the 57th ADB Annual Meeting, where discussions focused on Brunei Darussalam’s efforts to mitigate the effects of climate change and contribute to wider regional efforts to enhance climate change cooperation, notably through the establishment of the ASEAN Climate Change Centre in Brunei Darussalam. Discussions also focused on welcoming greater collaboration between Brunei Darussalam and the ADB through exchange of knowledge and best practices and expertise and strengthened engagements in regional platforms such as ASEAN and BIMP-EAGA.

The 57th ADB Annual Meeting was also attended by senior officials from the Ministry of Finance and Economy of Brunei Darussalam.​

View Joint Statement [Annex]​