Started at 9 am local time, the meeting was one of a series of ASEAN`s annual events.
Present at the meeting were among others former Finance Minister Sri Mulyani who is currently World Bank managing director, ASEAN Secretary General Surin Pitsuwan, Asian Development Bank President Haruhiko Kuroda, and International Monetary Fund Managing Director Nayauki Shinohara.
The primary objectives of the ASEAN finance ministerial meeting this time in the Indonesian island resort of Bali are to speed up cooperation and policy dialogues among ASEAN countries in the field of economy to strengthen regional monetary system, expand effective
financial markets, and contribute to sustainable economic development.
ASEAN countries will this year make special cooperation in the field of insurance, customs,infrastructure financing, and capital market development.
Under the cooperation, the ASEAN capital market is expected to get stronger in the face of world financial markets integration and to facilitate the real sector.
In addition, ASEAN will also cooperate in raising access to the insurance market and harmonization of regulation through exchange of information in a bid to support business certainty.
While the cooperation in the field of customs is directed to harmonize customs regulations within the framework of improving trade facilitation and investment toward ASEAN as a single market and production base.
In the field of infrastructure financing, the ASEAN finance ministers woill also discuss the formation of an ASEAN Infrastructure Fund as an alternative to financing sources for infrastructure development projects in the ASEAN region.
In the meeting, various deputy finance minister-level officials, gatherings of ASEAN+3 covering South Korea, China, and Japan, will also be held.
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Editor: AA Ariwibowo
Copyright © ANTARA 2011
