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Japan Finance Minister says to boost regional financial ties at ASEAN+3 meeting

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TOKYO (Reuters) - Japan will aim to strengthen regional financial cooperation with China, South Korea and ASEAN countries on May 3 when their financial leaders meet on the sidelines of the Asian Development Bank's annual meetings, Finance Minister Taro Aso said.

Speaking to reporters after a cabinet meeting, Aso underscored the importance of strengthening regional financial ties given the COVID-19 crisis.

Aso made the comment ahead of the annual meetings of finance ministers and central bank governors from China, Japan, South Korea and the 10-member Association of South East Asian Nations scheduled to be held via teleconference. The CMIM plays a crucial role in supporting regional financial stability by allowing the member economies, which include the ASEAN+3 and Hong Kong, to tap currency swap lines to secure currencies in need.

 

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