ASEAN to actively promote settlements in national currencies – statement
The leaders of the countries - members of the association agreed to instruct the ministers of finance and governors of central banks to control the implementation and promotion of the regional payment system
TOKYO, May 11. /TASS/. ASEAN (Association of Southeast Asian Nations) member states intend to actively expand the possibilities on the use of national currencies in financial transactions with each other, according to a joint statement adopted following the ASEAN summit under Indonesia’s presidency that was released on Thursday.
"We commit to encourage the use of local currencies for economic and financial transactions among ASEAN Member States to deepen regional financial integration and promote the development of currency market in local currency to strengthen financial stability in the region," the statement reads.
Leaders of ASIAN nations also agreed to task finance ministers and central bank chiefs with supervising the introduction and promotion of the regional payment system.