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Zeti: Asia better positioned for economic integration

February 10, 2012

KUALA LUMPUR: Bank Negara Malaysia governor Zeti Akhtar Aziz says Asia is at the cusp of experiencing significant collective economic growth and development.

And Asian economies would be better positioned to collectively strive and work towards achieving the shared vision of financial and economic integration, she said.

This would not only unlock their potential but also enhance the prospects to contribute towards a more balanced and sustainable global economy, she said in a keynote address at the International Conference on “Asian Market Integration and Financial Innovation” in Tokyo today.

She also said the region should significantly draw important lessons from the global financial crisis and recognise the implications of greater interdependence.

“The sovereign debt crisis in Europe relates not only to fiscal matters but to debt management which has significant implications for financial markets.

“While fiscal issues may remain a national matter, its financing and its broader consequences needs to be addressed,” she said.

Zeti said that given the positive environment in Asia, the opportunity needs to be taken to put in place the necessary arrangements to best address these challenges.

– Bernama


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