Course summary ASEAN Free trade agreements:
ASEAN Plus 3 (APT): Association Southeast Asian Nations (ASEAN), People's Republic of China,
Japan and the
Republic of Korea.
The ASEAN Plus 3 (ASEAN+3) cooperation framework has broadened and
deepened. In international finance and monetary cooperation, progress has been
steady and
flow to focus on the implementation of the "Chiang Mai Initiative Multilateralisation (CMIM)" and the Asian
Bond Market Initiative (ABMI).
- The Chiang Mai Initiative Multilateralisation (CMIM), a 120 billion
USD
currency swap facility involving the central banks and finance ministries of
the Association of Southeast Asian Nations (ASEAN), China, Japan and the
South Korea (ASEAN+3) and the Monetary
Authority of
Hong Kong, the People's Republic of China, has come into
effect.
- The Asia Bond Market Initiative (ABMI) is an ASEAN+3 initiative supported by the Asian Development Bank and funded by the Government of Japan.
The Asia Bond Market Initiative is intended to
promote bond market development in the region:
Brunei Darussalam,
Cambodia, the People's Republic of China,
Indonesia, Japan, Korea,
Laos,
Myanmar, the
Philippines,
Singapore,
Thailand,
Malaysia and
Vietnam.
ASEAN Foreign trade with ASEAN+ 3 countries was USD 414 billion in 2009
(27% share of total ASEAN trade last year).
Total flows ofForeign direct investment (FDI) from the
+3 countries into the Association of Southeast Asian Nations (ASEAN) were still strong with a slight decline of 1.3% from USD
8.4 billion in 2008 to USD 8.2 billion in 2009.
Example of the course ASEAN Free trade agreements:
