ASEAN financial integration

VIENTIANE - Ministers of Finance and Central Bank President, ASEAN agreed to increase their efforts towards achieving financial integration in the region by 2025. According to the statement, which was approved this week.

During the meetings in Vientiane, Laos, representatives from the 10 member countries of the ASEAN Economic Community welcomed the start ASEAN (AEC) at the end of 2015 and promised to promote financial inclusion and stability based on the plan in a decade for AEC.

Joint statement released on Monday, said, referring to the global economic slowdown last year due decline in China's economic growth: Asian economies rose 4.4 percent in 2015, despite the challenges in the global economy, .

Representatives from the 10 ASEAN noted that despite the decline risk due to external factors, the region will continue to maintain growth economy and promoting financial stability this year by laying out an appropriate monetary policy, fiscal policy and great caution.

They claimed that the continuing efforts towards the liberalization of financial services and market development capital pillar for achieving financial integration in the region.

They said: 'We have agreed to enhance our cooperation and initiatives to strengthen the integration of recovery region against the vulnerability of the potential market risks and external situation of international financial market stability.

ASEAN is one of the leading economic regions in the world market with a population of over 600 million people.

ASEAN includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.