AMM 50: ASEAN Plus Three to boost financial cooperation

14:15 | 10/08/2017 Economy

Foreign ministers of ten ASEAN countries and three of its partners – Japan, China and the Republic of Korea (RoK) – have agreed to enhance financial cooperation in order to strengthen economic stability within the region.

The Philippines Int'l Convention Center is the venue for meetings of foreign ministers of ASEAN and partner countries - Credit: ASEAN

At the ASEAN Plus Three Foreign Ministers Meeting held in Manila, the Philippines, on August 7, Japanese FM Taro Kono affirmed that Tokyo is ready to work closely with the ASEAN members, China and the RoK to enhance the capacity of forecasting economic crisis, both regionally and internationally.

He added that Japan will make further efforts to fight increasing trade protectionism.

The foreign ministers shared their viewpoints on a free trade deal involving the ten ASEAN members and the three partners, along with Australia, New Zealand and India, in addition to discussing infrastructure and marine security in the region.

The situation concerning the Korean Peninsula was high on the meeting’s agenda, with the Japanese Minister calling for collaboration to increase pressure on the Democratic People’s Republic of Korea to cease its missile and nuclear programmes, and to address the kidnapping of Japanese citizens in the past.

The conference also discussed directions for their cooperation in the near future, compared viewpoints on regional and international issues, and looked into the preparations for the 20th ASEAN+3 Summit in November.

A plan of action for 2018-2022 is scheduled to be approved at the conference.