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ASEAN+3 can serve as a regional representation capable of easing tensions and providing greater certainty amid ongoing global challenges, according to Indonesia’s Finance Minister Sri Mulyani Indrawati.
The group, which includes the 10 member states of the Association of Southeast Asian Nations (ASEAN), along with China, Japan, and South Korea, held the 28th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting in Milan, Italy, on Monday (05/5), 2025.
“Indonesia is committed to continuing its active role in supporting the welfare of the ASEAN+3 region and strengthening cooperation, both with the United States and multilateral institutions,” Indrawati wrote on her Instagram account.
She also welcomed ongoing discussions about the Chiang Mai Initiative, a multilateral currency swap arrangement involving all ASEAN+3 members.
Indrawati expressed hope that initiatives led by Indonesia and Japan during their respective ASEAN+3 chairmanships—as well as talks aimed at strengthening the region’s financial safety net—will continue to progress.
During the two-day meeting, she emphasized the importance of not only understanding “what” constitutes sound fiscal policy, but also “how” to implement it effectively.
Citing case studies presented by the ASEAN+3 Macroeconomic Research Office (AMRO), Indrawati noted that fiscal policies in each member state play a vital role in driving national growth while maintaining fiscal sustainability.
She also highlighted the importance of taking domestic conditions into account. “Learning from other countries’ experiences in addressing domestic challenges can be key to achieving sustainable economic stability and growth,” she concluded. [antaranews]
