ASEAN banking confab kicks off in Bali

Antara News, Wednesday, November 10, 2010 13:04 WIB | Economic & Business

Nusa Dua, Bali  (ANTARA News) - The 18th ASEAN Banking Conference kicked off here on Wednesday to discuss a number of problems particularly the regional grouping`s preparedness to face an ASEAN single market as of 2015.

"The 18th ASEAN Banking Conference is focusing on the efforts to seek solution and framework to increase and promote ASEAN financial cooperation in relation to an ASEAN single market," ASEAN Bankers Association Chairman Pham Huy Hung said when opening the meeting at Westin Hotel here.

Pham said the meeting was aimed at sharing valuable experiences so as to find solutions to a plenty of practical problems for the benefit of the banking industry`s future.

Sharing Pham`s view, Chairman of the Indonesian Bankers Association (Perbanas) Sigit Pramono said the main topic of the 18th ASEAN Banking Conference dealt with the ASEAN banking industry`s preparedness to face an ASEAN single market as of 2015.

He said the theme was very relevant to the present developments in the banking industry in particular and the economy in general.

"The integrity of ASEAN regional market is the demand of the era and a starting point for the ASEAN economy to become a new economic power in the world fora," he said.

To that end, the banking industry`s contribution was a must to accelerate economic processes that might develop when an ASEAN single market came into being.

The meeting is a routine activity of the ASEAN Bankers Association (ABA) held once every two years and attended by all bankers associations in 10 ASEAN member countries.