DEPUTY Minister for Planning and Finance U Maung Maung Win attended the meeting of ASEAN + 3 Finance and Central Bank Deputies hosted virtually by Cambodia yesterday morning.

The meeting discussed the review of the ASEAN+3 Regional Economic Outlook 2022 on the post-COVID-19 pandemic recovery plans developed by the ASEAN+3 Macroeconomic Research Office-AMRO, the plan to use the AMRO office as the regional knowledge hub, AMRO office 2023 budget and staffing status. It also dwelt on review issues on AMRO operations and the progress of the ongoing work under the Chiang Mai Initiative Multilateralization (CMIM), which is being implemented in ASEAN+3 countries. It discussed matters relating to the approval of the amendment of the CMIM Agreement, the implementation of ASEAN+3 policy issues, and technical assistance programmes to develop the Asian bonds market and further plans.

While participating in the discussion, the deputy minister said Myanmar participates in the regional macroeconomic research programmes and the capacity building of the Financial Resilience against Climate and Natural Disasters working group. He continued, “Myanmar is also working to revive the country’s economy after the COVID-19 period, aiming to reach 3.7 per cent of the economic growth rate.”

Despite the increase in financial services using digital technology, there is still a need for digital infrastructure and skills, technology and cyber security, and it will accelerate the growth of the digital economic system, the deputy minister said. He also added that Myanmar would closely cooperate with ASEAN+3 countries in reviving the regional economy.

The meeting of ASEAN+3 Finance and Central Bank Deputies is being hosted alternately by the ASEAN countries and ASEAN+3 countries: China, Japan and the Republic of Korea. The meeting was virtually co-chaired by Cambodia and the People’s Republic of China this year. The decisions made at this meeting will be submitted to the ASEAN+3 Finance and Central Bank Governor Meeting to be held on 8 April for approval.

MNA

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