Finance and central bank deputies of ASEAN countries met in Phnom Penh , Cambodia on Mar. 27 at the ASEAN Financial and Banking Conference.
The Cambodian Economy and Finance Ministry said the event focused discussion on financial cooperation in the ASEAN framework in order to continue expediting financial integration towards the establishment of an ASEAN Economic Community in 2015.
Participants reviewed the progress of the Roadmap for Monetary and Financial Integration of ASEAN, including Capital Market Development, Financial Services Liberalisation, Capital Account Liberalisation, and the ASEAN Capital Market Forum.
They also discussed the progress of ASEAN Finance Cooperation in the sectors of insurance, customs, taxation, countering terrorism financing, preventing money laundering and ASEAN economic surveillance processes.
The results of the meeting will be submitted for approval to the 16th ASEAN Finance Ministers' meeting, which will be held in Phnom Penh on March 30.
Speaking at the conference, Vongsey Vissoth from the Cambodian Ministry of Economy and Finance said the meeting is very important for the development of the Cambodian economy and regional economies as a whole.
Moreover, he said, the ministry will help to develop a joint policy to respond to global financial crises and risk. As chair of ASEAN, Cambodia has been seeking to promote a financial mechanism for infrastructural development, in order to narrow the development gap among member states.
The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.-VNA