Union Minister U Win Shein joins 24th AFMGM+3

Union Minister for Planning, Finance and Industry U Win Shein attended the 24th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+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 ASEAN+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 COVID-19 being carried out in the country individually or together with ASEAN+3 members and IMF, Comprehensive Economic Stimulus Plan so-called COVID-19 Economic Relief Plan (CERP) of the country to revive the businesses hit by COVID-19 and close cooperation with ASEAN+3 members.
The meeting then approved the Joint Statement.
Deputy Minister for Planning, Finance and Industry Daw Than Than Lin virtually joined the Governors’ Seminar on Cooperation 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