ASEAN ministers to meet in Kuala Lumpur

ASEAN ministers to meet in Kuala Lumpur

JAKARTA (JP): Nine ASEAN ministers of finance and their senior
officials will gather at the 30th anniversary of the ASEAN
Conference and Exhibition on Finance, to be held at the Putra
World Trade Center in Kuala Lumpur from Dec. 1 to Dec. 3.

The conference, organized by the ASEAN Business Forum in
cooperation with the ASEAN Secretariat, will focus on the theme
of ASEAN Financial Initiatives for the 21st century.

Secretary-General of the Association of Southeast Asian
Nations (ASEAN) Dato' Ajit Singh said yesterday that the
conference would be particularly relevant to policy makers who
have to deal with the challenges of globalization in the
financial services sector.

"I am also confident that the conference will provide an ideal
opportunity for senior government policy makers and executives of
financial institutions in ASEAN to exchange views and formulate
new areas of cooperation to further develop ASEAN financial
markets," he said.

The forum's president Tan Sri Dato Dr. Loy Hean Heong said
ASEAN countries must reinforce the financial cornerstones of
their economic success.

"We need to continue to take steps to reduce sovereign and
credit risk and improve real rates of return. It is imperative
that we refine our competitiveness, innovate and stay one step
ahead in the global financial game," he said.

The conference will provide some interesting sessions such as
"The Future of the Yen in the World and East Asia", "Risk-Return
Profiles of ASEAN Economics" and others.

Some senior representatives from international organizations
such as the International Monetary Fund and the World Bank will
speak at the conference.

Malaysian Prime Minister Mahathir Mohamad is due to officially
open the conference and exhibition and give the keynote address
on Dec. 1. (08)