Singapore 26 September 2012 – The OECD Development Centre and ASEAN+3 Macroeconomic Research Office (AMRO) held their first joint Asian Regional Roundtable today to discuss the Euroarea uncertainty and its implication for Asian economies.
The Euro-area uncertainty affects Asia through various channels such as trade, banking and financial flows. “Although Asian economies have shown resilience so far, there are some signs of slowing. We will need to watch carefully and take proactive actions against impact of lingering Euroarea uncertainty”, say Rintaro Tamaki, Deputy Secretary General of the Organisation for Economic Co-operation and Development (OECD) and Yoichi Nemoto, AMRO Director.
The roundtable also discussed medium-term structural policy challenges and development strategies regarding how to capitalize Asia’s domestic demand and how to enhance productivity in oder to consolidate the growth momentum in the region for a medium-term. This Roundtable is held in the context of the OECD Strategy on Development adopted by Ministers in May 2012. ASEAN+3 Finance Ministers and Central Bank Governors also instructed AMRO to further enhance collaboration with relevant international financial institutions in May 2012. The OECD Development Centre and AMRO will continue their close co-operation in the region.