The Nation April 6, 2013 1:00 am
They participated in the annual Asean Finance Ministers Meeting (AFMM) in Brunei that concluded on Thursday. Companies participating in the delegation included ACE, Citi, General Electric, MasterCard, Moody's, PayPal, Standard & Poor's, State Street and Visa.
Noting that the AFMM is one of Asia's most important regional economic meetings, Zink said: "Not only is the AFMM a leader in ensuring the successful launch of the Asean Economic Community [AEC] by 2015, it also plays a key role shaping the evolution of Asia-Pacific's regional financial architecture."
Andrade said: "US business remains committed to supporting the financial integration efforts of Asean through financial-services related initiatives that strengthen regional connectivity and financial inclusion efforts.
These initiatives can help address the development gaps faced by Asean's LDCs [least developed countries] and enhance the growth benefits they can accrue from participating in the AEC.
"The council is committed to supporting efforts to build financial literacy in Asean and expand the reach of financial services."
According to Marc Mealy, vice president for policy of the council, the integration will support Asean's outstanding performance in global initial public offerings, merger-and-acquisition activity and bond-market growth during a period of global economic uncertainty and financial regulatory change.
"As Asean continues to become more of a global asset class, we encourage the ministers to continue their regional financial integration and capital-markets development efforts, with a focus on putting in place policies, standards and rules to enhance the intermediation of both foreign-capital inflows and domestic investors into productive investments to sustain broad-based economic growth," Mealy said.
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Source: http://www.nationmultimedia.com/business/US-finance-delegation-backs-Asean-integration-30203489.html
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