06
Mar.
2019

2019 AFMGM Chairmanship’s Priorities

06
Mar.
2019

2019 AFMGM Chairmanship’s Priorities

1,186

The overarching theme during Thailand’s 2019 Chairmanship is “Advancing Partnership for Sustainability”, with an emphasis on creating one and seamless ASEAN in the era of the Fourth Industrial Revolution to benefit from the digital transformation and the global value chain. The theme also aims to enhance ASEAN centrality in the regional architecture for a sustainable future that is people-centered, inclusive and green by joining ASEAN people together so that no one is left behind.

For the finance track, our priorities support this theme by focusing on three dimensions as follows;

1) Enhance ASEAN’s connectivity to create a “Seamless ASEAN” through facilitating trade and investment, as well as financing and payment linkages. Within this first dimension, we will focus on a number of initiatives, such as the live-operation of ATIGA e-Form D through the ASEAN Single Window, promoting local currency usage for invoicing and settlement in trade and investment, encouraging cross-border retail payment linkages, and exploring innovative financing approaches for sustainable infrastructure projects in ASEAN.

2) Enable sustainable finance and inclusion to become a “Sustainable ASEAN”. This represents the second dimension of our priorities and will accentuate aspects such as stepping up efforts to promote sustainable finance in both the banking sector and capital markets as well as developing a framework for micro-insurance products to enhance financial inclusion.

3) Equip ASEAN’s resilience to converge into a “Digital ASEAN” that stands ready for any unanticipated disruption. This final dimension will emphasize the strengthening of financial sector cyber-resiliency through deepening cyber-threat intelligence sharing and enhancing capacity building on cybersecurity. As such, there is also a need to enhance our cooperation on digital asset oversight.