The Republic of Korea (RoK), China, Japan and ten ASEAN nations (ASEAN+3) have strengthened their emergency liquidity programme to better cope with possible financial crises, Seoul's finance ministry said on June 23.
Hanoi(VNA) – The Republic of Korea (RoK), China, Japan and ten ASEAN nations (ASEAN+3) have strengthened theiremergency liquidity programme to better cope with possible financial crises, Seoul's finance ministrysaid on June 23.
The move cameafter a revised agreement of the regional financial safety net, known as theChiang Mai Initiative Multilateralization (CMIM), went into effect earlier on the day, the RoK Ministry of Economy and Finance said in astatement.
The 13 nationsagreed to revise the agreement in May last year to reinforce financial support,including the flexibility to extend the period of provision under theIMF-linked portion of the CMIM agreement.
They alsoagreed to add an overarching legal basis for conditionality in order for theCMIM to support members in addressing their risks and vulnerabilities throughpolicy recommendations, as well as financial support.
The CMIM, launchedin 2010, refers to the 240 billion USD pool that can be tapped through currencyswap deals in times of financial crisis.
ASEANcomprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Thailand, Singapore and Vietnam./.
Russia will actively support Vietnam to play its role as the Chair of the Association of Southeast Asian Nations (ASEAN) in 2020, Russian Foreign Minister Sergey Lavrov told Vietnam News Agency's correspondents in Russia at a press conference informing the outcomes of the online Special ASEAN-Russia Foreign Ministers’ Meeting on COVID-19 on June 17.
The East Asia Business Council (EABC) has recently convened its 47th meeting in an online format, attracting representatives from 13 East Asian nations, including 10 ASEAN member states and their three partners of China, Japan and the Republic of Korea.
The 28th meeting of the Senior Officials’ Committee for the ASEAN Socio-Cultural Community (SOCA) was held via video conference under the chair of the Ministry of Labour, Invalids and Social Affairs (MoLISA) on June 22.
Deputy Foreign Minister and head of the SOM ASEAN Vietnam Nguyen Quoc Dung chaired the ASEAN Senior Officials' Preparatory Meeting (Prep-SOM), the second meeting of the ASEAN Coordinating Council (ACC) Working Group on Public Health Emergencies (ACCWG-PHE) and the Joint Consultation Meeting in Hanoi on June 22.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
