May 3 - Finance ministers and central bank leaders representing China, Japan, South Korea and the 10 members of the Association of Southeast Asian Nations met in Samarkand, Uzbekistan, and issued a joint statement highlighting their readiness to address risks linked to excessive volatility in financial markets.
The officials, convened as the grouping known as ASEAN+3, said they would maintain an ongoing policy dialogue aimed at preserving macroeconomic and financial stability. In their statement they said: "We strongly reaffirm our commitment to sustained policy dialogue to safeguard macroeconomic and financial stability."
The communique emphasized vigilance toward swings in market conditions. "To this end, we will remain attentive to risks stemming from excessive volatility and disorderly movements in financial markets and shifts in global liquidity conditions, and stand ready to respond in line with the domestic conditions," the statement said.
Beyond market stability, the members also underscored their commitment to keeping trade and investment channels open and supply chains resilient. The statement reiterated support for a multilateral trading framework that is non-discriminatory and rules-based, saying: "We are determined to maintain open and well-functioning trade and investment flows as well as resilient supply chains, and reaffirm our support for a rules-based, non-discriminatory, free, fair, open, inclusive, equitable, and transparent multilateral trading system, with the World Trade Organization at its core."
The meeting took place on the sidelines of the Asian Development Bank's annual meeting in Samarkand. The ASEAN group referenced in the statement comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
The wording of the statement centers on coordination and preparedness: officials committed to watching for "excessive volatility" and "disorderly movements" in markets and to responding as domestic circumstances warrant. The declaration pairs financial vigilance with a parallel emphasis on preserving trade links and supply chain resilience.
Contextual note: The communiqué was released following the ASEAN+3 session in Samarkand and signals a cautious posture by finance and central bank leaders toward potential market disruptions while reiterating trade and supply chain priorities.