In his opening speech at the 15th ASEAN Finance Ministers Meeting at the Bali International Convetion Center (BICC), Nusa Dua, Friday, President Yudhoyono said the ASEAN finance ministers must take steps for financial service liberalization, capital market development, and capital flow management in the Southeast Asian region.
The ASEAN finance ministers should also establish cooperation to draft a policy on customs among ASEAN member countries to implement ASEAN Single Window.
"Another challenge is to draft a policy which could omit obstacles for the integration process and guarantee regional dialogs on this issue that could produce recommendations and concrete actions," the head of state said.
ASEAN must be more united and competitive to play its role in promoting growth in the East Asia region, he added.
According to the president, the Southeast Asian countries which were hit by monetary crisis in 1997/1998, should be ready to face similar threats now because they have an economic macro policy coordination and defense means through bilateral agreements and Chiangmai Initiative scheme involving three other nations, namely China, Japan, and South Korea.
He stated that ASEAN finance ministers should be able to make sure that the Chiangmai Initiative Scheme could be implemented at the operation level and in line with similar international schemes without having to wait for next financial crisis threats.
In accordance with the ASEAN theme 2011, namely "ASEAN Community in a Global Community of Nations", the President hoped the ten-member regional organization in Southeast Asia could contribute to global community agreements and management through global forums such as G20.
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Editor: AA Ariwibowo
Copyright © ANTARA 2011
