Asean needs to continue to nurture a ‘resilient and dynamic financial ecosystem’, says Brunei deputy minister
BANDAR SERI BEGAWAN (borneo Bulletin/ANN): A Brunei deputy minister has emphasised the importance for Asean to continue nurturing a resilient and dynamic financial ecosystem that facilitates seamless cross-border payments, attracts private investments and encourages innovative financing solutions.

Deputy Minister of Finance and Economy (Fiscal) Pengiran Datin Seri Paduka Hajah Zety Sufina Sani said this at the 11th Asean Finance Ministers and Central Bank Governors’ Meeting (AFMGM) in Luang Prabang, Laos from April 2-5.

The ministerial meetings began with dialogues between Asean finance ministers and representatives, as well as Asean central bank governors, the Asean Business Advisory Council, European Union-Asean Business Council and United States-Asean Business Council to discuss opportunities for public and private sector collaboration in sustainable development for areas such as green, blended and transition finance, digital economy, fintech and illicit trade.

Asean finance ministers and representatives engaged in a dialogue session with International Financial Institutions (IFIs), including the International Monetary Fund, World Bank, Asian Development Bank and the ASEAN+3 Macroeconomic Research Office.

Discussions centred on regional and global economic outlooks, as well as avenues for enhancing collaboration between Asean and IFIs to bolster regional resilience against various challenges, including supply chain disruptions and climate change.

During the plenary session, Asean finance ministers and representatives endorsed the priorities of Laos 2024 Asean Chairmanship, themed ‘Asean: Enhancing Connectivity and Resilience’.

They explored strategies to enhance Asean finance cooperation across customs, treasury, taxation, insurance, infrastructure financing, and cross-sectoral engagements with other sectors such as health and agriculture. - Borneo Bulletin/ANN
Brunei,Deputy Minister,Asean,dynamic,financial ecosystem
A Brunei deputy minister has emphasised the importance for Asean to continue nurturing a resilient and dynamic financial ecosystem that facilitates seamless cross-border payments, attracts private investments and encourages innovative financing solutions.