The ASEAN+3 Macroeconomic Research Office (AMRO) held the ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) in Seoul, South Korea in collaboration with the International Monetary Fund (IMF) and Bank of Korea (BOK).
Centered on the theme “Sustainable Growth: Reinforcing Resilience, Revitalizing Productivity,” the third edition of the AMRO Forum gathered policymakers, academics and experts from multilateral institutions to discuss evolving economic challenges affecting the ASEAN+3 region and to explore potential solutions.
AMRO director Kouqing Li, in his opening remarks, Li emphasized the region’s global significance. “Nearly five years after the onset of COVID-19 pandemic and multiple shocks, the ASEAN+3 region has demonstrated remarkable resilience. While ASEAN+3 is expected to remain the world’s fastest-growing region, our longer-term prospects face formidable challenges, including aging populations, climate change risks, heightened geopolitical tensions, and growing geoeconomic fragmentation,” he said.
Li underlined three priorities for the region to adapt to the long-term challenges. “First, we must prepare by rebuilding policy space and enhancing policy flexibility to respond to shocks. Second, it is crucial to revitalize long-term growth by embracing technological advances and adopting innovative strategies. Finally, we must intensify regional cooperation to navigate the complexities of an increasingly fragmented world,” he said.
