MoPF Union Minister attends 25th ASEAN+3 finance ministers and central bank governors’ meeting

Union Minister for Planning and Finance U Win Shein attended the 25th ASEAN+3 Finance Ministers and Central Bank Governors meeting jointly chaired by the People’s Republic of China and Cambodia via a virtual system yesterday.
The meeting discussed global and regional macroeconomic perspectives and priorities on inclusive recovery plans in the aftermath of the COVID-19 pandemic, the progress of the ASEAN + 3 Macroeconomic Research Office (AMRO), the status of the ongoing implementation of the Chiang Mai Initiative Multilateralization (CMIM) Action Plan, technical assistance programmes for the development of the Asian bond market and future plans.
At the meeting, the Union Minister said Myanmar support the implementation of AMRO as a Regional Knowledge Hub and the implementation of the medium-term plan (2022-2026). He urged AMRO to work on the development of financial digitalization and digital transformation methods that have been developed in conjunction with the COVID-19 outbreak. Myanmar is working with other member countries for technical assistance for the development of the Asian bond market. In addition, it is also involved in the capacity building activities of the financial resilience against climate and natural disasters working group and is working to revive its economy after the COVID-19 pandemic. They also discussed closer cooperation with ASEAN + 3 countries in the regional economic recovery process.
The ASEAN + 3 Finance Ministers and Central Bank Governors’ Meeting is held annually by China, Japan and the Republic of Korea in rotation. This year’s ASEAN + 3 meetings are being held in the form of virtual meetings. The meeting was attended by ASEAN + 3 Finance Ministers and Central Bank Governors, Heads of the International Monetary Fund, Asian Development Bank, and ASEAN + 3 Macroeconomic Research Office and ASEAN Secretariat. — MNA