The ASEAN Plus Three (APT) has been successful in facilitating coordination in various fields, and helped address financial and health crises impacting the region. Thus, it is important to work together to ensure food security, especially by ensuring the continued preparedness of the APT Emergency Rice Reserve, which is vital in safeguarding food security during emergencies.
In a titah delivered during the 26th ASEAN Plus Three Summit, His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam recognised that relevant mechanisms such as the Chiang Mai Initiative Multilateralisation (CMIM), ASEAN+3 Macroeconomic Office (AMRO) and the Asian Bond Markets Initiative were developed to respond to previous economic and financial crises.
In this regard, His Majesty expressed satisfaction with the ongoing discussions to explore the use of local currencies for settling regional transactions, which will further enhance overall regional resilience and strengthen trade and investment.
-- Courtesy of Borneo Bulletin