The Development and Strengthening of International Forums in Asia with the Participation of the Bank of Japan

In Asia, economic growth across jurisdictions has deepened economic and financial ties with Japan, underscoring the importance of close monitoring of regional developments and advancing cooperative efforts toward financial stability. Major regional forums in which the Bank of Japan participates, namely EMEAP and ASEAN+3, have played distinct roles. Within EMEAP, central banks have fostered long-standing mutual trust, enabling frank and candid exchanges on shared regional challenges. Meanwhile, ASEAN+3 has pursued more targeted and practical initiatives, such as establishing a regional financial safety net and developing local currency bond markets, drawing lessons from the Asian financial crisis. Today, these platforms have become increasingly pivotal amidst growing complexities in the global environment. It is imperative to continue proactive engagement in these forums, while further deepening collaboration with central banks in the region in light of Asia's evolving economic landscape.