ASEAN+3

This week, I think I want to write about the ASEAN +3.

ASEAN +3 is that the framework which will continue to work together in Japan, China, Korea, in close interaction with the community of Association of Southeast Asian Nations (ASEAN). On the occasion of the economic crisis, the Asian currency that began in the summer of 1997, ASEAN +3 Summit, the start in the form of the leaders of Japan, China and South Korea have been invited to the summit of the anniversary ASEAN30, which was held in Kuala Lumpur. Since then, foreign ministers, finance ministers, ministerial-level meeting of economic ministers' meeting, etc. is launched, progress pragmatic cooperation in the financial field, such as a variety of food security. They will celebrate the 15th anniversary of the partnership in 2012.

Began in the form of ASEAN +3 leaders of Japan, China and South Korea have been invited to the ASEAN Summit in 1997 in order to continue to the East Asia regional cooperation in the Asian currency crisis in 1997. There is a summit and foreign ministers' meeting in the main thing, there is a consultative body of 48 field 17 December 2005.To become the center of an East Asian community in the 9th ASEAN +3 summit was held in Kuala Lumpur, Malaysia in 2005 has been revealed by the Kuala Lumpur Declaration. Agreed to show the future of the community put together a new declaration in 2007.

In the ASEAN +3 Finance Ministers' Meeting 2nd May 2000, is the swap network currency bilateral using foreign exchange reserves to agree to (CMI) Chiang Mai Initiative, by the end of 2003 eight countries　(Japan, China, Indonesia, Malaysia, Philippines, Singapore, Thailand, South Korea) participated. Thereafter, the contract into CMI multi came into force in March 2010 with the aim of standardizing the process triggering currency swap between the authorities, in order to facilitate accelerate support, in 13 countries all of ASEAN +3 participated.

Based on the proposal of Japan, ASEAN +3 Finance Ministers' Meeting 6th August 2003 at (Manila, Philippines), medium-and long-term issues of regional financial cooperation further, take advantage of the knowledge of regional research institutions, ASEAN studied from an academic perspective established under +3 Finance Ministers' process of "research Group" has been agreed upon. In response to this, in the research group, various studies have been performed so far.

2011-12 years, research has been performed on the following three themes.

To cope with changes in commodity prices in East Asia 

 ①The role and function of the banking sector in the region's financial system 

 ② ASEAN +3 is the role of regional financial safety net in global architecture 

 ③These studies report (Note) has been posted on the website of the ASEAN Secretariat has compiled a research group in May 2012.

Research themes of the year 2012-13 are as follows.

Improvement of infrastructure to strengthen the capacity of community rating in the region and the international debate on the ASEAN +3 rating agency

ASEAN +3 will continue to influence the world in the future.