• The AEC Strategic Plan 2026–2030 is ASEAN’s five-year economic blueprint that operationalizes the ASEAN Community Vision 2045: Resilient, Innovative, Dynamic, and People-Centered ASEAN. It succeeds the AEC 2025 Blueprint and establishes a structured, results-based framework for ASEAN’s next phase of economic integration. The Plan sets out: six (6) strategic goals, 44 objectives and 192 strategic measures that guide regional economic cooperation from 2026 to 2030.
• The AEC Strategic Plan 2026–2030 was developed with reference to other goals and objectives that are aligned with ASEAN’s long-term ambitions. This includes ASEAN Member States’ commitments towards the 2030 United Nations’ Sustainable Development Goals (SDGs) and existing ASEAN-led mechanisms to address current and future regional and global challenges and opportunities, including the ASEAN Outlook on the Indo-Pacific (AOIP).

• The ASEAN Community Vision 2045 (ACV 2045) envisions the AEC as a resilient, innovative, dynamic, and people-centered entity that becomes a major player in the global economy with a seamlessly integrated single market and production center, anchored on sustainable growth through green and blue economies, harnessing advances in innovative, digital, and technological transformation, leading a community through open and interoperable ecosystem, strong mutually beneficial external partnerships maintaining ASEAN Centrality, economically and financially resilient against crises, and inclusive by narrowing development gaps while empowering MSMEs and sectoral cooperation.

• The ASEAN Economic Community Council (AECC) oversees the implementation of the AEC Strategic Plan 2026–2030, supported by sectoral bodies and ASEAN Member States (AMS) responsible for national-level actions and supporting initiatives like Sectoral Work Plans. The mechanism emphasizes transparency, efficiency, and inclusivity, fostering public-private partnerships and a whole-of-government approach to address emerging issues proactively. Various stakeholder engagements ensure broad participation in the economic integration process.
• Monitoring and evaluation are led by the ASEAN Secretariat through a results-based system tracking progress with baselines, targets, and key performance indicators (KPIs), engaging internal and external experts as needed. Reviews occur every five years to refresh Strategic Measures, starting in the fourth year with an agile approach considering new trends. Resource mobilization, coordinated by the Secretariat, draws from AMS, External Partners, and others to provide funding, expertise, and capacity building for sustainable implementation.
• Risk management is integrated into the monitoring and evaluation system to identify and mitigate potential issues like resource constraints or external factors, with the Secretariat handling strategic risks and sectoral bodies addressing initiative-specific ones. Communications and public outreach will amplify the plan's reach via a targeted strategy aligned with the ASEAN Communication Masterplan III, with the ASEAN Secretariat (ASEAN Integration Monitoring Directorate) disseminating implementation details, outcomes, and impacts to stakeholders and the public.

• Financial integration in ASEAN will be accomplished in the following specific areas:

1. Financial Services Liberalization (FSL). The gradual removal of restrictions on ASEAN banks, insurance companies and investment companies in providing financial services in other ASEAN Member States (AMS) will be implemented. AMS meet and negotiate on what financial services each country is willing to liberalize during the specified period. The process of liberalization takes into consideration the readiness of the member economies, with an aim to have freer flow of financial services (subject to pre-identified flexibilities).

   In 2018 ASEAN has concluded ten (10) packages of commitments under the ASEAN Framework Agreement on Services (AFAS)³. Each succeeding Package contributes to progressively deeper levels and wider coverage of ASEAN Member States’ commitment to substantially eliminate restrictions to trade in services among them. There is continued progress toward progressive liberalization of financial services under AFAS, with 95 percent of its Strategic Action Plan completed, including the substantial liberalization/integration of insurance markets⁴.

2. Capital Account Liberalization (CAL). ASEAN aims to achieve freer flow of capital by gradually removing restrictions on foreign exchange transactions such as those in the current account (CA), foreign direct investments (FDIs), portfolio investments (PIs) and other flows (OFs), while imposing adequate safeguards.

   AMS have progressively liberalized their capital accounts through measures such as streamlining approval processes, reducing documentary and administrative requirements, limiting restrictions, and advancing digital transformation in cross-border transactions, among others. Building on these efforts, the WC-CAL will implement the enhanced CAL Heatmap Methodology in 2026 to better capture reforms that facilitate cross-border fund flows.

   ASEAN is also working to promote greater use of local currencies in trade and investment, with the added benefit of greater resilience to market stress, through the implementation of the ASEAN Local Currency Transaction (LCT) Framework. Policy dialogue mechanism was also established to keep track of the current trends in capital flows and exchange information on capital flow management measures among the ASEAN economies. The WC-CAL is co-chaired by the BSP and the Bank of the Lao PDR for the period 2024-2026.

3. Capital Market Development (CMD). ASEAN continues to develop, interlink and deepen the region’s capital markets through long-term capacity building and infrastructure development. This will be implemented through harmonization of domestic laws and regulations and linkage of market infrastructure.

   The 12^th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) endorsed the ASEAN Capital Markets Forum (ACMF) Action Plan 2026–2030, which sets out 11 key priorities designed to deepen market integration, enhance sustainability and resilience, promote inclusivity and broader access, and strengthen the region’s global capital-market positioning.

   As part of the initiative to modernize capital-market infrastructure, the Working Committee on Capital Market Development (WC-CMD) has an ongoing establishment of a credible governance framework for voluntary carbon markets (VCMs) in the region and knowledge-sharing to expand depositary receipt participation across ASEAN exchanges⁵.

4. Harmonized Payments and Settlement Systems (PSS). ASEAN continues to push for a payment system that is safe, innovative, efficient and more interconnected. To achieve this, economies are adopting international standards in domestic payment systems, strengthening domestic retail payment infrastructures, improving remittance mechanism, and ensuring sound consumer protection and risk management.

   Accomplishments include the formalization of the ASEAN Regional Payment Connectivity (RPC) initiative, substantial progress in cross-border payment linkages with 26 established as of August 2025, and active preparation for Project Nexus-multilateral cross-border remittance service for overseas workers, migrants and small businesses.

5. Financial Inclusion (FINC). ASEAN continues to develop coordinated policies and collaborative actions among Member States to expand financial inclusion across the region — covering financial intermediaries and distribution channels, financial education, consumer protection, digital and alternative finance, and tailored support for underserved populations including micro-enterprises.

   Milestones include, among others, a significant reduction of the average financial exclusion rate across ASEAN, adoption of new policy toolkit aimed at scaling up digital payments among micro-merchants, and promotion of digital finance and FinTech.

6. Capacity Building. ASEAN recognizes the need to provide necessary capacity building and other initiatives to narrow the development gaps among ASEAN economies and bring all AMS to fully participate in the ongoing integration efforts. ASEAN coordinates the matching of capacity-building needs and possible suppliers, development of learning programs, and identification of funding requirements.

   Learning programs have been conducted for Brunei Darussalam, Cambodia, Lao PDR, Myanmar and Vietnam (BCLMV). ASEAN continues the development/coordination of learning roadmaps for specific financial integration areas. ASEAN has also engaged partner institutions on funding arrangements to support the implementation of capacity-building programs.

The AEC Strategic Plan 2026–2030 serves as the primary work plan and program to achieve the goals outlined for ASEAN's economic integration by 2030. The six strategic structures are supported by 44 objectives (e.g., bolstering intra-ASEAN trade, deepening financial integration) and 192 strategic measures (e.g., liberalizing capital accounts, enhancing payment connectivity) implemented through ASEAN Sectoral Bodies and Working Committees and monitored via a results-based framework. These are detailed in sectoral work plans which align national priorities with the broader AEC plan.

• The ASEAN Finance Ministers and Central Bank Governors (AFMGM) provide guidance and direction in the implementation of the six (6) strategic goals and initiatives of the different working committees/task forces on financial integration. During the annual AFMGM meeting, the Finance Ministers and Central Bank Governors review progress, provide policy direction, and ensure alignment of policies with the AEC Strategic Plan 2026–2030 and ACV 2045.

• The Senior Level Committee (SLC) on ASEAN Financial Integration, composed of Central Bank Deputies/Senior Central Bank Officials and Chairs/Co-Chairs of the different working committees, plays a critical role in ensuring the implementation of key milestones and timelines of financial integration in the region since 2011. The SLC identifies and monitors macroeconomic and financial stability risks and its impact on the ASEAN financial integration agenda. The SLC also engages international financial institutions to enhance discussions on recent economic and financial market developments and risks to the outlook.

• While the SLC/Central Bank Deputies and the Central Bank Governors focus on issues concerning central bank functions (banking integration, capital flow liberalization, financial inclusion, payments and settlement systems), the Finance Deputies/Central Bank Deputies prepare recommendations for Finance Ministers/Central Bank Governors, to translate the Strategic Plan’s financial objectives into concrete actions across ASEAN Member States.

• ASEAN and ASEAN+3 countries (China, Japan and Korea) also pursued several initiatives to support the financial integration agenda in the region such as the following:

1. Financing arrangements. To assist countries with short-term liquidity difficulties, AMS established the US$1 billion ASEAN Swap Arrangements (ASA) in August 1977. The ASA was later increased to US$2 billion in 2005, to enhance its credibility and usefulness, upon the signing of a Memorandum of Understanding (MOU) among AMS. The MOU has been renewed multiple times, the latest renewal prior to 2021 being in November 2017 for two years; however, the agreement expired on November 16, 2021, and as of April 2025, ASEAN has committed to re-establishing the ASA to strengthen the region’s financial safety net and resilience. The Chiang Mai Initiative Multilateralization (CMIM), a US$120 billion multilateral currency swap facility was launched in March 2010 and designed to assist countries with short-term liquidity difficulties. The amount of the CMIM facility was doubled to US$240 billion in May 2012, and it remains at this size as of 2025..

2. Surveillance and policy dialogue. The ASEAN Integration Monitoring Directorate of the ASEC is responsible for the overall monitoring of the implementation of strategic measures, impacts and outcomes of the AEC Strategic Plan 2026-2030. The ASEAN+3 Macroeconomic and Research Office (AMRO) was incorporated in April 2011 and started operations in May 2011 to serve as the independent regional surveillance unit of the CMIM. It was converted into an international organization in February 2016 and continues to conduct macroeconomic surveillance, support CMIM implementation, and provide technical assistance, with active updates including the 2025 Annual Consultation Reports and ASEAN+3 Regional Economic Outlook.

• The ASEAN financial integration will generally enhance the overall health of the Philippine financial sector and contribute to further growth and resiliency of the economy. The following are the major benefits of financial integration:

• Freer flow of trade in services allows ASEAN services suppliers to provide services, including financial services (e.g., banking services, insurance services, investment facilitation) and establish companies across national borders within the region, subject to domestic regulations. This will result in the offering of a broader range of financial services, including micro-financing and insurance, available to a larger consumer base.

• With freer flow of capital, economic agents in any member state will be able to invest in or borrow funds more freely (or subject only to prudential regulations) from any other member state.

• With integrated capital markets in ASEAN, AMS can expect improved access to capital markets, establishment of necessary market infrastructure, lower transaction costs, and more efficient business processes.

• Under a vision of having a harmonized ASEAN payments and settlement systems, businesses and individuals will be able to make or receive electronic payments with greater convenience and security.

• It is recognized that despite the benefits of financial integration, the interdependence of financial markets increases the risks of contagion. For instance, if one financial institution or a particular AMS in the region is initially affected by a problem or a crisis, under an integrated financial market, this may spread to the rest of the financial sectors of other countries. Hence, as countries in the region open and integrate their financial markets, it is important to establish the necessary capacities; pursue sound and consistent macroeconomic policies characterized by price stability and fiscal discipline, for AMS to fully maximize the benefits and outweigh the risks of an ASEAN integrated financial markets.

Financial Health

• Aligned with the vision of the National Strategy for Financial Inclusion (NSFI) 2022-2028, the Bangko Sentral ng Pilipinas (BSP) is strengthening its focus on financial health as the next frontier of financial inclusion. The Philippines’ chairmanship in ASEAN in 2026 provides a timely and strategic opportunity to elevate financial health as a core outcome of financial inclusion in the ASEAN region—anchoring it within ASEAN’s broader goals of economic resilience, digital transformation, and social equity.
• At present, there is no common framework in ASEAN in measuring financial health. The goal is to work with regional neighbors to develop a standard measurement. With a shared framework, the ASEAN member states can design more targeted and innovative financial policies and services, especially for vulnerable populations.

Payments Connectivity

• Under the ASEAN Chairmanship, the BSP is leading the initiative “Advancing ASEAN Regional Payments Connectivity” to help accelerate the region’s move toward seamless, secure, affordable, and interoperable cross-border payments. This effort builds on existing regional frameworks such as the ASEAN Payments Policy Framework (APPF), its Implementing Policy Guidelines (IPG), the Bandar Seri Begawan Roadmap, and the Instant Payment Connectivity Roadmap 2025–2030.
• A key output of this initiative is a regional regulatory harmonization dashboard, which compiles and aligns rules across areas like Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), data privacy, consumer protection, dispute resolution, market access, and other requirements essential for real-time, interoperable cross-border payment systems. The dashboard strengthens coordination on domestic policies and provides greater transparency for the public and private sectors.