ASEAN Finance Ministers pledge further liberalize financial services

The 23rd ASEAN Finance Ministers' Meeting (AFMM) and the fifth ASEAN Finance Ministers' and Central Bank Governors' Meeting (AFMGM) took place in Chiang Rai, Thailand, on Friday.

The delegates released a joint statement reaffirming their determination to promote an integrated ASEAN to strengthen economic growth and stability of the regional financial market. They welcomed the notable progress in financial services liberalisation with the signing of the Protocol to Implement the Eighth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services. The Protocol underscores their strong commitment in advancing regional linkages by further opening market access in the financial services sector. They lauded efforts to continue promoting liberalisation of financial services via negotiations on the RCEP and the ninth Protocol. Vietnamese Finance Minister Dinh Tien Dung led a Vietnamese delegation to attend the event. Dung said: We agreed that trade and investment continue to be the driving force of economic growth. We reviewed our activities and issues concerning inclusive finance, sustainable development growth, investment in infrastructure, taxes, insurances, customs and connectivity in the region.

Source: VOV5