The Second ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (2nd AFMGM), the Twentieth ASEAN Finance Ministers’ Meeting, and the Twelfth ASEAN Central Bank Governors’ Meeting (12th ACGM) were held on 4 April in Vientiane, Lao PDR.
ASEAN endorses action plans for financial integration 2025
The 2nd AFMGM reviewed the progress of regional initiatives on financial integration and financial cooperation, and endorsed the Strategic Action Plans for ASEAN financial integration 2025. The ASEAN Finance Ministers and Central Bank Governors are committed to implementing the action plans to promote financial integration, financial inclusion and financial stability in the region, in support of ASEAN macroeconomic stability and growth. The meeting endorsed the ASEAN Capital Markets Forum Action Plan 2016-2020 and the establishment of the ASEAN Insurance Forum, the Working Committee on Financial Inclusion, and the Working Committee on ASEAN Banking Integration Framework. Meanwhile, the finance ministers meeting endorsed the six broad strategies of taxation action plans.
The meetings were chaired by H.E. Dr. Liane Thykeo, Minister of Finance of Lao PDR, and H.E. Dr. Somphao Phaysith, Governor of the Bank of Lao PDR, and attended by the Finance Ministers, the Central Bank Governors, and the Secretary-General of ASEAN H.E. Le Luong Minh. The meetings were preceded by the ASEAN Finance Deputies’ Meeting and the ASEAN Central Bank Deputies’ Meeting on 1 April 2016, and the ASEAN+3 Finance and Central Bank Deputies’ Meeting on 2-3 April 2016.
ASEAN Secretariat News