LABUAN BAJO (Indonesia): To facilitate regional economic integration, Asean leaders made a declaration on advancing regional payment connectivity and promoting local currency transactions during the two-day Asean Summit.
This year’s 42nd summit under Indonesia’s chairmanship is themed “Asean Matters: Epicentrum of Growth,” held from May 9-11 in the Indonesian town of Labuan Bajo.
Leaders declared to commit to advancing regional payment connectivity by utilising emerging opportunities brought by innovation to facilitate seamless and secure cross-border payment, taking country circumstances into consideration. Ahead of the summit, the Indonesian Employers Association had expected that Indonesia could drive regional dedollarisation through its 2023 Asean chairmanship.
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