ASEAN Plus 3 look to closer regional coordination to cope with global financial crisis
VGP – A special meeting of leaders of ASEAN+3 (ten ASEAN member-countries and China, Japan, Republic of Korea) was convened this morning, October 24, to enhance regional coordination in dealing with impacts caused by the global financial crisis. Earlier, yesterday evening, ASEAN leaders had a discussion on the same topic.
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ASEAN 3 Special Meeting - Photo: VGP |
During those meetings, PM Nguyễn Tấn Dũng shared information of the solutions adopted by the Vietnamese Government, underlying that Việt Nam has managed the situations, maintained macroeconomic stability, ensured social security and facilitate the growth. The Vietnamese PM agreed with the determination for closer regional coordination, stressing some key issues in coping with the crisis.
Apart from proper financial and economic solutions, it is necessary to pay attention to social factors and create the unanimity in the society so as to make people understand and support the Government’s policies and solutions, PM Dũng stated.
Leaders of ASEAN, China, Japan and RoK agreed to join efforts and take timely and effective measures.
The meetings adopted proposals made by ASEAN Foreign Ministers. Accordingly, ASEAN 3 will closely join their policies and solutions to recover the market’s and investors’ trust; maintain liquidity, stability and strength of the financial-banking system and securities market; continue to speed up economic and trade cooperation as well as internal investments; kick-start and exploit the financial cooperation mechanisms within ASEAN and ASEAN 3, especially multilateralizing the Chiang Mai Initiative (CMI) on foreign exchange to provide urgent aid to the countries facing temporary difficulties in terms of balance of payment; and establish a financial-banking task force directed by Finance Ministers and Central Bank Governors of ASEAN 3 to outline short and long-term solutions which will be submitted to the ASEAN 3 Summit scheduled in Thailand in mid-December 2008.
The leaders highlighted their determination to accelerate the plan on economic, trade and investment cooperation in the region, then establish the East Asia Free Trade Area (EAFTA). China, Japan and RoK pledged to support the region’s joint efforts to cope with the crisis and ASEAN’s linkages and cooperation for stability and development.
By Xuân Hồng
