Daily TribuneThe Philippines aims to ensure that regional cooperation delivers tangible benefits across Southeast Asia, pushing for concrete outcomes that will improve access to finance, encourage investments, and strengthen the region’s economic resilience.
The Philippines, through the Department of Finance (DoF) and the Bangko Sentral ng Pilipinas (BSP), co-chaired the ASEAN Finance and Central Bank Deputies’ Meeting — Working Group (AFCDM-WG), underscoring its commitment to advancing regional financial integration and economic resilience.
The meeting, held on 13 February in Panglao, brought together ASEAN finance and central bank officials to refine key elements of the post-2025 ASEAN Economic Community (AEC) Strategic and Sectoral Plans under the Finance Process.
DoF Undersecretary Joven Z. Balbosa said the Philippines aims to ensure that regional cooperation delivers tangible benefits to citizens across Southeast Asia.
Simple goal
“Our goal is simple: to ensure these meetings deliver real benefits for ASEAN citizens,” Balbosa said, adding that the country is pushing for concrete outcomes that will improve access to finance, encourage investment, and strengthen the region’s economic resilience.
Discussions during the AFCDM-WG focused on expanding cross-border payments connectivity to enable faster, safer, and more affordable transactions; promoting financial health and inclusion to widen access to financial services; and advancing capital market development and integration to support sustainable growth.
As co-chair, BSP managing director Thomas Benjamin Marcelo helped steer deliberations toward actionable measures aimed at enhancing financial cooperation and policy coordination among ASEAN economies.
Working group meeting outcomes
The outcomes of the working group meeting will be elevated to the upcoming ASEAN Finance and Central Bank Deputies’ and Governors’ Meetings later this year, forming part of broader efforts to build a more integrated, inclusive and resilient ASEAN economic community.
Balbosa emphasized that ASEAN financial cooperation platforms, including the AFCDM-WG and the Working Committee on Financial Services Liberalization, play a key role in ensuring that policy coordination translates into meaningful progress for businesses, investors and citizens in the region.
