ASEAN+3 Forum Opens in Hong Kong to Address Financial Resilience

The fourth ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) commenced today in Hong Kong, China, aiming to strengthen regional integration amidst increasing global fragmentation. Co-hosted by the ASEAN+3 Macroeconomic Research Office (AMRO), the Hong Kong Monetary Authority (HKMA), and the Bank for International Settlements (BIS), the event convenes senior policymakers and economic experts to discuss strategies for enhancing financial stability and macro-financial resilience.

Focus on Regional Cooperation and Financial Stability

The theme of this year’s Forum, “Fragmentation to Resilience: Macro-financial Stability and Regional Integration in ASEAN+3,” reflects the urgent need for deeper cooperation in response to rising uncertainty in the global economic landscape. AMRO Director/CEO Yasuto Watanabe opened the Forum, emphasizing the necessity of evolving interconnection frameworks to ensure the region’s adaptability to economic shocks.

“To anchor resilience, the ASEAN+3 region must act together to strengthen integration, reinforce our financial frameworks, and ensure that the region remains adaptable, diversified, and capable of absorbing shocks,” said Mr. Watanabe.

The HKMA’s Chief Executive, Eddie Yue, highlighted the importance of enhanced regional collaboration. He stated that ASEAN+3 economies have fortified their resilience to external shocks through greater integration. “I am confident that the discussions today on macroeconomic risks and the shifting global financial landscape will yield valuable insights for our collective efforts in the years to come,” he said.

Key Sessions and Discussions

The Forum’s agenda includes two major sessions addressing pressing economic issues. The first session, “Macroeconomic Risks and Regional Integration Amid Global Fragmentation,” features keynote speeches from Heiwai Tang, Director at the Asia Global Institute, and Barry Eichengreen, Distinguished Professor at the University of California, Berkeley. Following their presentations, a panel discussion moderated by Dong He, Chief Economist at AMRO, will delve into the implications of macroeconomic challenges.

The second session, “The Changing Global Financial Landscape: Implications for Monetary and Financial Stability,” includes keynotes from Julia Leung, Chief Executive Officer of the Securities and Futures Commission, and Hyun Song Shin, Economic Adviser and Head of Monetary & Economic Department at BIS. This will be followed by a panel led by Daniel Rees, Head of Central Bank Cooperation at BIS.

The AMRO Forum coincides with the ASEAN+3 Finance and Central Bank Deputies’ Meeting, reinforcing its role as a crucial platform for policy dialogue and regional collaboration. AMRO extends its gratitude to the HKMA and BIS for their partnership in facilitating this significant event.

For those not able to attend, the AMRO Forum can be viewed online, with selected opening remarks and keynote speeches available on the AMRO website post-event.

Established to enhance macroeconomic and financial stability in the ASEAN+3 region, AMRO provides surveillance, supports regional financial arrangements, and offers technical assistance to its members, which include ASEAN countries, China, Hong Kong, Japan, and Korea.

For ongoing updates, visit the AMRO website and follow them on LinkedIn.