PM Anwar Expected To Deliver Consensus Statement For ASEAN To Galvanise Inherent Strength To Achieve Economic Independence, Ward Off Global Risks  

By Muhammad Faiz Baharin

KUALA LUMPUR, April 10 (Bernama) -- The 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) today is paramount for getting a buy-in from ministers for regional consensus to deal with crippling American tariffs.

As ministers, economists and central bankers have pointed out after deliberations in a series of preparatory meetings the last few days, this is undoubtedly a battle Southeast Asia must win by deepening financial integration.

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This would pave the way for increased trade and investment linkages which would strengthen the grouping and make it more economically independent.

Against such headwinds brought on by Washington’s sweeping tariffs, ASEAN finance ministers and central bank governors are expected to come out with a stronger stand once the meeting chaired by Malaysia ends.

With Malaysia as ASEAN chair, Prime Minister Datuk Seri Anwar Ibrahim is expected to deliver a consensus statement endorsed by ministers for further deliberations when the grouping’s leaders meet in Kuala Lumpur for their annual summit next month.

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Since Monday, officials from the 10 member states were "all hands on deck" discussing the three priority economic deliverables (PEDs) put forward by Malaysia.

Today, Finance Minister II Datuk Seri Amir Hamzah will chair the ASEAN Finance Ministers Meeting (AFMM) while Bank Negara Governor Datuk Seri Abdul Rasheed Ghaffour would chair the ASEAN Central Bank Governors Meeting (ACGM) in a separate session.

The last day will also see the launch of the ASEAN Infrastructure Fund (AIF) Action Plan 2025 to 2028.

The fund which was launched in 2011, provides lending to sovereign or sovereign-guaranteed projects in the ASEAN region through a funded participation from Asian Development Bank (ADB) loans.

With a total paid equity of US$485.3 million, the fund is the grouping’s largest financing initiative for infrastructure based on member countries’ contributions.

Later in the day, the ministers and central bank governors will be meeting international financial institutions before the 12th AFMGM kicks off with Anwar delivering welcoming remarks.

Starting Monday, more than 10 meetings were held, including high-level discussions with the ASEAN-US Business Council, ASEAN-European Union, and the ASEAN Business Advisory Council (ABAC).

These meetings with private sector organisations, focusing on financial matters, are crucial for enhancing Southeast Asia's regional appeal as a trade and investment destination.

More than 300 delegates, including ASEAN finance ministers, central bank governors, international financial institutions and private sector representatives are participating in the 12th AFMGM, the investment conference and the exhibition.

-- BERNAMA