PH voices support for ASEAN+3 initiatives
On behalf of the Philippine government, Department of Finance (DOF) Secretary Carlos Dominguez III expressed his support for the upcoming financial initiatives within the ASEAN+3 organization.
ASEAN+3 is composed of countries within the Association of Southeast Asian Nations (ASEAN) and their partners Japan, Korea, and China.
During the 25th ASEAN+3 Finance Ministers and Central Bank Governors Meeting (AFMGM+3), Dominguez said that the Philippines is looking forward to future initiatives that will help accelerate the shift from coal to sustainable energy sources.
He added that the country is also eager for programs that will intensify information exchange on innovative technologies and expand the digital economy across the region.
“Overall, the Philippines is committed to engaging with the working committees to realize our shared goal of building a regional financial system that encourages transparency, harmonization of regulatory regimes, and broader-based capital markets,” Dominguez stated.
He added that the success of ASEAN+3 financial initiatives “will be vital in enhancing the region’s resilience, inclusiveness, and integration as we all return to normalcy.
Dominguez also welcomed the progress achieved in the Chiang Mai Initiative Multilateralization (CMIM) and encouraged the ASEAN+3 Macroeconomic Research Office (AMRO) to work closely with ASEAN+3 Member Authorities.
