#China #Hong Kong #Financial Stability #ASEAN+3 #AMRO Forum

4th AMRO Forum: Strengthening ASEAN+3 Integration

The 4th ASEAN+3 Economic Cooperation and Financial Stability Forum commenced today in Hong Kong, co-hosted with the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS). This year's theme, "Fragmentation to Resilience Macro-financial Stability and Regional Integration in ASEAN+3," set the tone for discussions among policymakers, economists, and leaders from various sectors, emphasizing the importance of regional cooperation in times of global fragmentation.

The event gathered key figures, including AMRO Director/CEO Yasuto Watanabe, HKMA Chief Executive Eddie Yue, and BIS Chief Representative for Asia and the Pacific, Tao Zhang. Watanabe pointed out that to build resilience, it is crucial for the ASEAN+3 region to enhance integration, strengthen financial frameworks, and adapt to external shocks. He emphasized that the interconnected nature of the global economy necessitates a continuous evolution in cooperative frameworks.

Yue added that cooperation among ASEAN+3 economies has bolstered their resilience against external challenges. The discussions on macroeconomic risks and collaborative efforts for stability promise to yield actionable insights for the future.

Zhang addressed the need for close collaboration between central banks and both public and private sectors, noting that such cooperation is vital to manage economic risks. The forum provided a platform for exchanging insights that can shape the regions’ policy priorities.

Forum Sessions

The forum's agenda comprises two significant sessions:

1. Macroeconomic Risks and Regional Integration Amid Global Fragmentation
- This session featured keynote speeches from Heiwai Tang, Director of the Asia Global Institute at The University of Hong Kong, and Barry Eichengreen, Distinguished Professor at UC Berkeley. A panel moderated by Dong He, AMRO Chief Economist, included prominent figures such as:
- Marzunisham Omar, Deputy Governor of Bank Negara Malaysia
- Haibin Zhu, Executive Director of Research at HKMA
- Chantavarn Sucharitakul, Chair of the AMRO Advisory Panel
- Johanna Chua, Chief Economist for Asia at Citigroup.

2. The Changing Global Financial Landscape and Its Implications for Monetary and Financial Stability
- In the second session, prominent personalities such as Julia Leung, CEO of the Securities and Futures Commission, and Hyun Song Shin of BIS delivered keynotes. This was followed by a panel discussion moderated by Daniel Rees that featured insights from:
- Zeno Ronald R. Abenoja, Deputy Governor of Bangko Sentral ng Pilipinas
- Min Soo Kwon, Deputy Governor of Bank of Korea
- Alicia Garcia-Herrero, Chief Economist for Asia-Pacific at Natixis
- Arup Ghosh, Chief Rates Strategist at Standard Chartered Bank.

Collectively, these sessions are poised to foster constructive debates and collaborations that could solidify ASEAN+3's response to an evolving macroeconomic environment.

The AMRO Forum coincides with the ASEAN+3 Finance and Central Bank Deputies' Meeting, reinforcing its role as a pivotal venue for policy dialogue. AMRO aims to continue its mission of ensuring macroeconomic stability in the region by offering a knowledge hub and technical support for member nations.

For those unable to attend in person, updates and highlights from the Forum will soon be available on the AMRO website, allowing broader access to the discussions and insights shared during the event.

About AMRO

The ASEAN+3 Macroeconomic Research Office (AMRO) is dedicated to promoting macroeconomic stability within the ASEAN+3 regions, which include ASEAN member countries along with China, Japan, and Korea. Its main functions include conducting biannual macroeconomic surveillance and providing technical assistance to strengthen financial cooperation among member states. For more information, please visit the AMRO website.