Myanmar attends 11st AFMGM, 28th AFMM in Lao PDR

A Myanmar delegation led by Deputy Prime Minister Union Minister for Planning and Finance U Win Shein attended the 11th ASEAN Finance Ministers and Central Banks Governors Meeting (11th AFMGM) and 28th ASEAN Finance Minister’s Meeting (AFMM) in Luang Prabang, Laos, from 3 to 5 April.
On 3 April, the Union minister attended the superior discussion on the expansion of finance related to climate changes in South East Asia. At the meeting, he exchanged views on finding ways to unlock financing needed to help reduce the impact of climate change and losses and further cooperation together with other attendees. In the evening, the Union minister and party joined the dinner hosted by the Governor of Laos Central Bank.
On 4 April, the ASEAN-EU Business Council, ASEAN-US Business Council and ASEAN Business Advisory Council meetings were held separately, and the ASEAN Finance Ministers and Deputy ASEAN Secretary-General discussed the ASEAN financial integration, plans to achieve the outcomes of ASEAN Economic Community Blueprint 2025, expanded work plans, Strategic Action Plan for financial integration for 2025 and all-inclusive financial integration in ASEAN regions.
At noon, the ASEAN Finance Ministers’ Meeting was held separately, and the Union minister highlighted the economic crisis in the 2019-2020 financial year due to the outbreak of COVID-19, recovery of the economy in 2022-2023FY, efforts of the government to support SME and agricultural sectors by laying down the economic objectives, and active participation of Myanmar in ASEAN. Moreover, the ASEAN+ Three Finance and Central Banks Deputies Meeting was held on the same day.
On 5 April, the 28th AFMM was organized, and the leaders exchanged views on the submitted Strategic Action Plan for ASEAN regional finance integration and drafted the work plans.
At noon, the 11th AFMGM was held, and the leaders discussed ASEAN monetary and financial cooperation, ASEAN economic community assessment procedures, implementation of AEC Blueprint 2025, ASEAN Community Vision 2045, ASEAN financial and monetary integration report, progress of ASEAN Treasury Forum and work plans to be carried out in 2024-2025FY.
They then approved the joint statement of the 11th AFMGM.
The ASEAN Finance Ministers and Central Banks Governors Meeting is held in April yearly. Laos hosted the meeting this year, and Malaysia will chair it in the coming year.
Myanmar Ambassador to Laos U Aung Ko attended the 28th AFMM and its related meetings, while Deputy Minister U Maung Maung Win attended the ASEAN Finance Deputy Ministers’ Meeting, and the ASEAN Finance and Central Bank Deputies Meeting on 2 April. — MNA/KTZH