(Bandar Seri Begawan 12th) and Related Meetings (Brunei 12th News) The Minister in the Prime Minister's Office and the Second Minister of Finance and Economy, Datuk Liu Guangming, recently attended the 12th ASEAN Finance Ministers and Central Bank Governors Meeting (12th AFMGM) and related meetings held in Kuala Lumpur, Malaysia.
The meeting began with dialogues between ASEAN finance ministers and representatives, ASEAN central bank governors, and the ASEAN Business Advisory Council (ASEAN-BAC), the ASEAN-EU Business Council (EU-ABC), and the ASEAN-US Business Council (US-ABC). The dialogues focused on advancing public and private sector cooperation amidst geopolitical economic challenges, including promoting sustainable development, expanding connectivity, and leveraging ASEAN's digital transformation to promote long-term growth in the region.
ASEAN finance ministers and central bank governors and representatives also participated in dialogue meetings with international financial institutions (IFI) such as the International Monetary Fund, the World Bank, the Asian Development Bank, and the Economic Policy Research Center. The meetings introduced global and regional development prospects, providing a platform for ASEAN finance ministers and central bank governors to discuss and exchange views on the latest trade policy developments, thereby laying the foundation for building a stronger and more resilient ASEAN region.
At the 29th ASEAN Finance Ministers' Meeting, finance ministers from various countries discussed strengthening ASEAN's financial cooperation in areas such as customs, taxation, insurance, infrastructure financing, financial and public financial management. The finance ministers also emphasized the importance of streamlining cross-sector cooperation in ASEAN to address intersectional issues such as energy, disaster, health, and food security.
The 12th ASEAN Finance Ministers' Meeting expressed support for Malaysia's priorities as the ASEAN chair in 2025, with the theme of “Inclusivity and Sustainability.” The meeting also exchanged views on strengthening regional monetary and financial integration and sustainable financial cooperation.
During the meeting, the Minister in the Prime Minister's Office and the Second Minister of Finance and Economy, Datuk Liu Guangming, stated: Malaysia is enhancing the vision of the ASEAN community through the theme of “Inclusivity and Sustainability,” which resonates deeply with ASEAN's common aspiration to build a resilient and prosperous region.
He emphasized the importance of strong economic and trade links in addressing global challenges and reaffirmed Brunei's support for cooperation with Malaysia and other ASEAN member countries to advance common economic priorities, mitigate external shocks, and achieve ASEAN's collective vision of building a prosperous, resilient, and interconnected ASEAN community. He also highlighted that establishing a sustainable financial framework is crucial for attracting climate financing and driving sustainable investments to build a more resilient ASEAN region.
The topics discussed at the ASEAN Economic Ministers' Meeting also included a video conference held by ASEAN economic ministers following the US tariff imposition on China (including tariffs announced on April 2, 2025, and the recent suspension of additional tariffs on April 9, 2025). The meeting deliberated on recent developments and ASEAN's future joint approach. The “Joint Statement of the ASEAN Economic Ministers” was released on April 10, 2025.
The meeting also issued a joint statement on the implementation of unilateral tariffs by the United States.