The 2017 ASEAN+3 Financial Forum (ATFF)

Location: Asahikawa Grand Hotel, Asahikawa, Japan

The 2nd ASEAN+3 Financial Forum (ATFF) with the theme of “Adapting to a Changing World” will be held back to back with the ASEAN+3 Finance and Central Bank Deputies’ Meeting (AFCDM+3) in Asahikawa, Japan, on December 11, 2017.

Hosted by the ASEAN+3 Macroeconomic Research Office (AMRO), the half-day program will focus on the regional outlook and policy response, and developments in the international monetary system as well as the evolving global financial environment. Discussants and speakers include high-level policy makers, renowned academics and economists who have strong background and experience on both regional and global issues.

AMRO Director Dr. Junhong Chang will deliver welcome remarks. As the Co-chairs of AMRO Executive Committee in 2017, Mr Diwa C. Guinigundo, Deputy Governor, Monetary Stability Sector, Bangko Sentral ng Pilipinas, and Mr Yoshiki Takeuchi, Director General of the International Bureau, Ministry of Finance, Japan, will deliver keynote addresses at the forum. Dr. Hoe Ee Khor, AMRO Chief Economist, will facilitate the first session on “Gaining New Strength for Structural Challenges”. Dr Yoichi Nemoto, Former AMRO Director, will moderate the second session on “The Chiang Mai Initiative Multilateralisation (CMIM) in the Evolving International Monetary System”.

Inaugurated in 2016, the ATFF acts as a flagship platform for ASEAN+3 Deputies, academics and high-level representatives of international financial institutions to brainstorm on challenges and issues relevant to the regional economic and financial cooperation.



08:00am – 08.30am:


08:30am – 08.40am:

Welcome Remarks by Dr Junhong Chang, Director of AMRO

08:40am – 09.00am:

Keynote Address by Mr. Diwa C. Guinigundo, Deputy Governor, Monetary Stability Sector, Bangko Sentral ng Pilipinas & Mr Yoshiki Takeuchi, Director General of the International Bureau, Ministry of Finance, Japan

08:50am – 10.30am:

Panel 1: Gaining New Strength for Structural Challenges

The ASEAN+3 region led global economic growth in the past two decades, and many member economies were able to raise income levels and transition to middle-income economies. However, in the context of new normal, ASEAN+3 members are also facing daunting structural challenges to their growth path and growth model, such as ageing population, anemic productivity growth etc. To address these challenges, ASEAN+3 members would need to implement and follow through on structural reforms to set their economies on a solid foundation for continued robust growth. Enhanced regional economic and financial cooperation among the regional economies would make the best of each economy’s respective comparative advantage while safeguarding regional financial stability.

Moderator: Dr Hoe Ee Khor, Chief Economist of AMRO

Panel Speakers:

Dr. Yaobin Shi, Vice Minister, Ministry of Finance, China
Mr. Seilava Ros Under Secretary of State, Ministry of Economy and Finance, Cambodia
Prof. Yasuyuki Sawada, ADB’s Chief Economist
Mr. Odd Per Brekk, Deputy Director, Asia and Pacific Department, IMF
Dr. Robin Brooks, Managing Director and Chief Economist, Institute of International Finance (IIF)

10:30am – 10:45am:

Group Photo Session and Coffee break

10:45am – 12:45pm:

Panel 2: CMIM in the Evolving International Monetary System

The CMIM was established in response to the Asian Crisis when countries in the region were exposed to highly volatile capital flows. However, the reliability and hence credibility of this facility has yet to be tested, with member countries showing admirable resilience during the Global Financial Crisis. This session will discuss developments in the international monetary system and the evolving global financial environment. Against this backdrop, it will explore how the CMIM could be further developed to complement the existing “layers” of the Global Financial Safety Net (GFSN). The discussion will take into account lessons learned from other international policy actions to address balance-of-payments and liquidity crises, as well as recent IMF reforms to its lending facilities. Possible enhancements to the CMIM through liquidity assistance in local currencies will also be considered.

Before the speakers are invited to deliver their presentation, Mr. Yasuto Watanabe, AMRO Deputy Director, will make a presentation on the CMIM in the evolving international monetary system.

Moderator: Dr Yoichi Nemoto, Former AMRO Director

Panel Speakers:

Mr. Zhengxin Zhang, Deputy Director-General, International Bureau, People’s Bank of China
Dr. Chalongphob Sussangkarn, Distinguished Fellow of the Thailand Development Research Institute (TDRI)
Prof. Masahiro Kawai, Representative Director and Director-General, Economic Research Institute for Northeast Asia (ERINA)
Dr. Deok Ryong Yoon, Senior Research Fellow, Korea Institute for International Economic Policy (KIEP)
Mr. Hiroshi Watanabe, President, Institute for International Monetary Affairs (IIMA)

12:45pm – 12:50pm:

Closing Remarks by Dr. Akira Ariyoshi, Chair of AMRO Advisory Panel