About the Bank - Who We Are

International Economic Cooperation: ASEAN+3

The ASEAN+3 Regional Financial Cooperation process was borne out of the Joint Statement of the ASEAN+3 Leaders in November 1999, an essential component of which is monetary and financial cooperation – the ASEAN+3 Finance Process.  The ASEAN+3 is composed of the ten ASEAN member states and China, Japan and Korea plus Hong Kong, China.

The ASEAN+3 aims to strengthen policy dialogue, coordination, and collaboration on common financial, monetary, and fiscal issues. When it was established, the Process has four components: (i) the Economic Review and Policy Dialogue (ERPD); (ii) the Chiang Mai Initiative (CMI); (iii) the Asian Bond Markets Initiative (ABMI); and (iv) the ASEAN+3 Research Group.  In the last decade, the components has evolved into three major elements: (a) the ASEAN+3 Macroeconomic Research Office (AMRO); (b) the Chiang Mai Initiative Multilateralization (CMIM); and (c) the ABMI

​ ​​


Created:6/17/2020 3:20 PM   by:  Pambid Frederick D.
Modified:11/5/2021 12:00 PM   by:  Pambid Frederick D.