Download Powerpoint presentation by Ambassador Manaspas Xuto

Presentation by
Ambassador Manaspas Xuto
Executive Director
International Institute for Trade and Development
(ITD)
“The Relevance of Asia Cooperation Dialogue
and the Asian Bond”
International Conference on
“Building a New Asia : Towards an Asian
Economic Community”
10-11 March 2003, New Delhi
Why ACD?
• Negative impacts of 1997 Economic Crisis
and the Global Economic Downturn
• Despite their great potentials and inner
strengths, Asian countries have not
effectively and collectively utilized them to
their fullest benefits.
• Despite various regional and sub-regional
groupings, no Asia-wide cooperation has
existed to unite the whole continent
Core Values of ACD
•
•
•
•
•
•
•
“Missing link”
Positive thinking
Non-institutionalized
Top-down
Evolving
Inclusive
Result-oriented
Objectives of ACD
• Combine Asian strengths
• Enhance competitiveness of Asian countries
• Focus on economic cooperation and set aside
sensitive or unresolved political matters among
members
• Avoid duplication of already existing activities in
the region
• Make Asia a better partner for our counterparts
around the world
Asia
Cooperation
Poverty Alleviation (Bangladesh /
Cambodia / Vietnam)
Bahrain
Energy Security (Bahrain /
Bangladesh
Indonesia)
Brunei
Agriculture (China)
Darussalam
Cambodia
Biotechnology / Transport
linkages (India)
China
E-commerce / Infrastructure Tax
India
(Malaysia)
Indonesia
E-commerce / E-government /
Japan
Institute of Asian Standards
Republic of Korea (Pakistan)
Laos
SMEs (Singapore)
Malaysia
IT Development (Republic of
Myanmar
Korea)
Qatar
Energy / Science & Technology
Pakistan
(Philippines)
Philippines
Tourism (Thailand / Cambodia)
Singapore
Working Group on Financial
Thailand
Cooperation (Thailand)
Vietnam
Human Resource Development
(Vietnam)
Dialogue
1st ACD Retreat,
Cha-Am,
Thailand, 18-19
June 2002
1st Ambassadorial
Retreat, 2 July
2002
ACD Breakfast
Meeting, 14 Sept.
2002, New York
2nd
Ambassadorial
Retreat, 23
December 2002
2nd ACD Retreat,
21-22 June 2003,
Chiang Mai
Why Asian Bond ?
• To solve the problem of Asia’s over-reliance on
foreign banking systems and short-term borrowing
from abroad which mainly led to the 1997 financial
crisis
• To utilize a large portion of the total combined
international reserves of Asia for the maximum
benefits of the region
• To allow Asian financial institutions to better
prepare themselves for risk management and to
resolve problems of liquidity by selling bonds
• To provide alternatives for investment of Asian
countries
Development of Asian Bond Market
Product
Component Forum
1. Demand Side EMEAP
2. Supply Side ASEAN + 3
APEC FMM
3. Infrastructure
Asian Bond Fund
Capital market
development
Regional Bond Market
Development
Credit Guarantee
Arrangement
Development of
Securitization
Risk Management
Regional Clearing &
Settlement System
ACD as the “missing link”
to provide political impetus
to the
existing Asian Bond process
2nd ACD Retreat in June 2003
“Political launch” of the
Asian Bond concept
Timeline for Asian Bond
ACD Chiang Mai Declaration on
Asian Bond Market Development
22 June 2003
May
Asian
Bond
Fund
Launch
May 2003
June
September
THANK YOU