Asean finance ministers shrug off pollution to focus on regional agenda

[webfact]

Asean finance ministers shrug off pollution to focus on regional agenda

By Wichit Chaitrong 
The Nation 

 

 

Thailand will not cancel the 23rd Asean Finance Ministers’ Meeting in Chiang Rai this week despite that province and others in the North being in the grip of severe air pollution for several consecutive days, an official at the Finance Ministry said.
 

The regional ministers will highlight cooperation in using more local currency for trade settlement and investment, cross-border electronics payment, digital-asset oversight and cybersecurity in financial transactions. 

 

“Everything required for the meeting has been well arranged so we can’t cancel it,” Lavaron Sangsnit, director-general of the Fiscal Policy Office, said yesterday. 

 

The Asean Finance Ministers and Central Bank Governors’ Meeting runs tomorrow through Friday. About 300 representatives from the 10 Asean countries plus East Asia and the US will attend, along with business leaders from Asean and Europe.

 

The ministry had not expected the pollution in the northern provinces to worsen in the past few days, the result of a spreading forest fire. 

 

Lavaron said nine Asean finance ministers had confirmed their attendance, while Malaysia was sending a deputy finance minister as its representative. 

 

He said closed-door meetings would shield the participants from exposure to the pollution and air purifiers would be installed in the meeting rooms. 

 

Thailand is chairing the 10-nation Asean this year and is pushing the theme “Advancing Partnership for Sustainability”. 

 

The Asean ministers will discuss three key areas of cooperation: connectivity, sustainability and resilience, said Lavaron. 

 

 Asean aims to implement connectivity in financing, payment and services to facilitate cross-border electronic payments. It will also promote local-currency settlements to reduce dependence on the US dollar and lower exchange-rate risks from swings in the value of the dollar. 

 

Ministers will also discuss financial inclusion to enable individuals and small businesses to access credit. They aim to develop microinsurance to support small businesses. 

 

Cybersecurity will be raised with an eye to training Asean officials to deal with online threats to the financial sector. 

 

They will also seek cooperation in digital-asset oversight since digital currencies and tokens have emerged as means of investment. Financial regulators in Asean will also seek cooperation regarding financial information to guard against financial scams. 

 

The Finance Ministry expects the meeting will lead to concerted action reinforcing Asean connectivity in all areas, Lavaron said. 

 

Financial infrastructure should be enhanced in the long run. Taxation would be more compatible and eventually contribute to sustainability of the regional economy to absorb shocks from outside, he said. 

 

The Asean Business Advisory Council and EU-Asean Business Council will also meet Asean finance ministers to seek “friendlier” regulations to facilitate trade and investment in the region.

 

Senior Asean officials will meet on May 2 and 3. 

 

Senior officials from the US Treasury Department, China, Japan and South Korea will also meet with Asean representatives. Asean finance ministers will meet on May 4 and 5. 

 

Source: http://www.nationmultimedia.com/detail/business/30366878

 

-- © Copyright The Nation 2019-04-01

[Justgrazing]

56 minutes ago, webfact said:

“Everything required for the meeting has been well arranged so we can’t cancel it,”

" But look on the bright side you'll be taking a little bit of Thailand pollution home with you once some of those PM10's have taken up permanent lodgings in you're respiratory system " he added .. Wryly ..

 

56 minutes ago, webfact said:

The ministry had not expected the pollution in the northern provinces to worsen in the past few days, the result of a spreading forest fire.

Numpty's .. It's a national pastime polluting the sky so how can they say they hadn't expected it .. Either that or they wanna sack the fortune teller for not foreseeing it ..

 

56 minutes ago, webfact said:

They will also seek cooperation in digital-asset oversight since digital currencies and tokens have emerged as means of investment. Financial regulators in Asean will also seek cooperation regarding financial information to guard against financial scams. 

Gawd bloody help it when they can't help thereselves with more conventional scam's and rip-offs .. 

 

56 minutes ago, webfact said:

Lavaron Sangsnit, director-general of the Fiscal Policy Office, said yesterday. 

What a load of ole' toilet .. 

[Justgrazing]

55 minutes ago, webfact said:

Lavaron said nine Asean finance ministers had confirmed their attendance,

Couple of the ministers seen turning up for the meeting ..

 

[davehowden]

Chiang Rai airport closed due to smoke!!

[YetAnother]

3 hours ago, webfact said:

Everything required for the meeting has been well arranged so we can’t cancel it,

Ever hear of "moving it"?, must be too advanced for him

[mikebell]

3 hours ago, webfact said:

closed-door meetings would shield the participants from exposure to the pollution and air purifiers would be installed in the meeting rooms. 

Meanwhile the public at large can go and eat cake.

[Lungstib]

4 hours ago, webfact said:

He said closed-door meetings would shield the participants from exposure to the pollution and air purifiers would be installed in the meeting rooms.

ASEAN at its best. The politicians will be enclosed in an artificially sterilised room to ensure they dont have to put up with the conditions the average citizen does. There they will discuss business as usual and the opportunities to make more money. Which is, of course, why we are suffering this pollution. 

[hotchilli]

11 hours ago, webfact said:

He said closed-door meetings would shield the participants from exposure to the pollution and air purifiers would be installed in the meeting rooms.

Speaks volumes, while citizens outside choke on smoke !

[zydeco]

22 minutes ago, hotchilli said:

Speaks volumes, while citizens outside choke on smoke !

Getting more like China every day.