UNIN  Minister  for  Planning,  Finance  and  Industry  U Win Shein attended the 24th ASEAN+3 Finance  Ministers’  and  Central  Bank  Governors’  Meeting  (AF-MGM+3)  yesterday.  The  meeting  was  virtually  held  together  with  the  54th  annual  meeting  of  the  Asian  Development  Bank  between 3 and 5 May.

The  meeting  was  conducted  under  the  co-chairmanship  of  Brunei  Darussalam  and  the  Republic  of  Korea.  During  the  meeting, the leaders exchanged views on the outlook for the global and  regional  economies  during  the  COVID-19  pandemic  and  policy  responses  to  risks  and  challenges.

They also discussed plans to enhance regional financial cooperation together with ASEAN+3, IMF, ADB and AMRO.

The  Finance  Ministers  and  Central Bank Governors of ASE-AN+3 and the economists of IMF, ADB and AMRO also coordinated the discussion regarding approval for the amendment of Chiang Mai  Initiative  Multilateralization  (CMIM),  the  performance  of  ASEAN  +  3  Macroeconomic  Research  Office  (AMRO),  progresses  of  Asian  Bond  Markets  Initiatives (ABMI) and formation of four working groups.

During  the  meeting,  the  Union  Minister  also  discussed  economic  responses  to  COV-ID-19  being  carried  out  in  the  country individually or together with  ASEAN+3  members  and  IMF,  Comprehensive  Economic  Stimulus  Plan  socalled  COV-ID-19  Economic  Relief  Plan  (CERP) of the country to revive the businesses hit by COVID-19 and close cooperation with ASE-AN+3 members.

The meeting then approved the Joint Statement.

Deputy  Minister  for  Plan-ning, Finance and Industry Daw Than  Than  Lin  virtually  joined  the  Governors’  Seminar  on  Co-operation for a Resilient Future.

President of ADB, Mr Masutsugu  Asakawa,  presided  over  the  meeting  and  discussed  the  economic policy transformation and sector-wise development in Asia-Pacific  regions,  potential  responses  to  revive  the  border  trade,  investment  and  tourism  sectors  badly  hit  by  COVID-19,  rehabilitation  processes  with  digitalization and innovation and regional and international cooperation  to  overcome  the  global  pandemic.

The 25th AFMGM+3 will be held in Colombo of Sri Lanka under the co-chairmanship of Cambodia and China in 2022.

MNA

#TheGlobalNewLightOfMyanmar