ASIATODAY.ID, BALI – Deputy Minister of Finance of the Republic of Indonesia, Thomas Djiwandono emphasized the importance of cross-border collaboration in order to strengthen financial stability in the ASEAN region.
Thomas conveyed this when speaking at the opening of the first meeting of the ASEAN Treasury Forum (ATF) 2024, on Thursday, October 3 2024 in Bali.
According to him, this forum is a significant first step in strengthening public financial management throughout the region.
“The ASEAN Treasury Forum we are launching today is not the culmination of our joint efforts, but it is a significant first step. “This marks the start of our collaborative journey to improve the quality of public financial management,” emphasized Thomas.
The forum, which was attended by treasury representatives from various ASEAN countries, aims to strengthen regional economic integration through collaboration in cash management, asset management, and more efficient and transparent fiscal governance.
Thomas also emphasized that strengthening fiscal risk management is very important amidst growing global challenges, such as high inflation, geopolitical uncertainty and volatility in energy and food prices.
“Through this forum, we can share best practices and experiences in cash management, ensuring that our government operates more efficiently and effectively,” said Thomas.
He also expressed the hope that this forum would become a strategic forum for ASEAN countries to navigate economic challenges and take advantage of opportunities together.
On that occasion, Thomas also highlighted ASEAN’s strong and resilient economic growth. With ASEAN’s total gross domestic product reaching US$3.9 trillion in 2023 and projected economic growth in 2024 which is estimated to reach 4.5%, Thomas stated that ASEAN is in a strong position to continue to be an attractive economic region for foreign direct investment (FDI).
“ASEAN has proven to be a resilient and strong region, with growth that is better than the global average,” he explained.
On the same occasion, Thomas also emphasized the importance of strengthening regional connectivity and resilience in the future.
“By strengthening our collaboration in various sectors, we will ultimately improve the welfare and resilience of communities throughout ASEAN,” he added.
Through this ASEAN Treasury Forum, Thomas hopes that ASEAN member countries can continue to improve their public financial management and adapt to various global challenges. This forum is also expected to encourage innovation and sustainable solutions that will bring benefits to all member countries. (AT Network)
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