Deputy Finance Minister 1 Leads Malaysian Delegation To ADB Board Of Governors Annual Meeting

KUALA LUMPUR, May 3 (Bernama) – Deputy Finance Minister 1 Othman Aziz is leading the Malaysian delegation to the 50th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), and 20th ASEAN+3 Finance Ministers and Central Bank Governors’ Meeting (AFMGM+3), in Yokohama, Japan, beginning Wednesday. Themed, “Building Together the Prosperity of Asia”, ADB’s 50th Board of Governors Annual Meeting will be attended by heads of state, finance ministers, central bank governors and representatives from private sector and academia, the Ministry of Finance said in a statement Wednesday. Malaysia’s participation in both the 50th Annual Meeting of the Board of Governors of the ADB and AFMGM+3 reaffirmed the country’s commitment in ensuring the region's economic and financial stability are given the highest priority. “Malaysia’s involvement in the meetings will also safeguard our interest in the regional fora,” it said, adding that the meetings would end on Sunday. Othman would also meet ADB President Takehiko Nakao to discuss related issues particularly on financing for regional development. The ministry said the ADB Annual Meeting would allow governors from member countries to provide guidance on ADB administration, financial and operational directions. The meeting would provide opportunities for member governments to meet ADB staff, non-government organisations, media, representatives of observer countries, international organisations, academia and the private sector. There would also be seminars, featuring top-level panelists, to discuss economic, finance and development issues relevant to ADB stakeholders. Topics include Asia’s opportunities for the next 50 years, public–private partnership progress and challenges in Asia and the Pacific, as well as, women leadership for inclusive and livable cities. Meanwhile, the 20th AFMGM+3 would cover the progress in regional economic cooperation, as well as, global and regional economic prospects and challenges. The meeting would also deliberate on several initiatives, including the ASEAN+3 Macroeconomic Research Office, Chiang Mai Initiative Multilateralisation and the Asian Bond Markets Initiative. At the same time, to commemorate ASEAN’s 50th anniversary and Japan’s hosting of the ADB Annual Meetings for the first time in a decade, Othman would also participate in the Finance Ministers and Central Bank Governors Meeting between ASEAN and Japan. The meeting would explore ways to further enhance financial cooperation between Japan and ASEAN, and strengthen mutually beneficial relations as equal strategic partners. -- BERNAMA