Macroeconomic Perspectives: 25th ASEAN+3 finance ministers 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 on Thursday.

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.