The figures were released at the 14th ASEAN Financial Ministers’ Meeting, which concluded in Nha Trang city in the central province of Khanh Hoa on April 8. 

At a press briefing later the same day, Vietnam’s Minister of Finance, Vu Van Ninh said that Vietnam appreciated the attendance of the World Bank’s General Director and the process for financial and monetary integration in ASEAN, including developing the capital market, and liberalising capital accounts, financial services and monetary co-operation.

Mr Ninh reported that the financial ministers were set to carry out their commitments on Asian financial integration.

The ministers also proposed establishing an ASEAN infrastructure bond fund to increase capital sources for infrastructure development in the region and to work with the Asian Development Bank (ADB) to get the fund operational as soon as possible. They also agreed to boost co-operation in other fields, such as insurance, taxes, and customs and discussed other issues, such as an investment promotion programme, said Mr Ninh.

After the meeting, the ASEAN financial ministers signed a protocol on the ASEAN Harmonised Tariff Nomenclature.