On February 17-18, 2020 in Hanoi, the State Bank of Vietnam (SBV) organized a number of technical meetings within the ASEAN Finance and Banking Cooperation process.
ASEAN Working Committee on Finance Services Liberalization (WC-FSL) meeting on February 17-18, 2020.
The meeting was attended by representatives of the Ministries of Finance, the central banks and the securities commissions of the 10 ASEAN member countries. During this meeting, the Working Committee discussed the approval process of the member countries related to the Protocol to implement the 8th Package of Commitments on Financial Services; and continued the negotiations on the 9th Package of Commitments. Besides, the Working Committee also updated on the progress of the negotiations under the framework of the ASEAN+ Agreements, such as the AANZFTA. Regarding the Regional Comprehensive Economic Partnership (RCEP) Agreement, the member countries have finalized the negotiations on the Appendix on Financial Services, and are going to implement the procedures of reviewing the legal texts upon the finalization of the negotiations on other Chapters within the RCEP Agreement. In addition, the member countries also discussed the implementation of the following activities: the plan on enhancing the capabilities of the Working Committee; updating the assessment form of the openness of the financial services; the assessment indicators; the progress of implementing the strategic plan as set out in the ASEAN Community Vision 2025.
Working Committee on ASEAN Banking Integration Framework (WC-ABIF) meeting on February 17, 2020
The meeting was attended by representatives from the Ministries of Finance, the central banks and the securities commissions of the 10 ASEAN countries.
The purpose of the meeting was to enhance the banking integration among the member countries; to monitor, support and facilitate the qualified ASEAN banks (QABs) to enter and operate in the regional markets. The meeting also provided updates on the operational situations of the three specialized groups on (i) Monitoring Agreements; (ii) Safety Regulations; (iii) Capability Enhancement. Moreover, the Working Committee also acknowledged the accomplishment of the 2019 priorities, which was the establishment of two regional QABs.
ASEAN Capital Markets Forum (ACMF) on February 17, 2020
The forum was attended by representatives of the Ministries of Finance, the central banks and the securities commissions of the 10 ASEAN countries. At the forum, the participants shared and discussed the aspects related to the enhancement of the ASEAN Capital Market Integration, including the contents in the General Report on sustainable finance, infrastructure financing; the arrangements on introducing the ASEAN sustainable finance products, the roadmap for the ASEAN Sustainable Capital Market,... In addition, the forum also discussed the ACMF Action Plan for the upcoming 2021 - 2025 period.
Working Committee on Capital Market Development (WC-CMD) meeting on February 18, 2020
The meeting attended by representatives of the Ministries of Finance, the central banks and the securities commissions of the 10 ASEAN countries. This was an opportunity for the member countries to discuss matters related to the scorecard, RMT, green bonds, infrastructure financing; common issues between the ACMF and the CMD; the draft report of the WC-CMD to be submitted to the SLC and the SCCB, as well as the indicators of capital market integration. At the meeting, the member countries provided updates on the scorecard for developing the bond market of the ASEAN countries based on the indicators of market access, transparency, financing, tax exemption, payment and depository.
In addition, in the afternoon of February 18, there was also the Meeting of the ASEAN Cross-Sectoral Coordination Committee on Disaster Risk Financing and Insurance (ACSCC on DRFI) with the participation of the representatives of the Ministries of Finance of the ASEAN member countries.
Le Hang