We should also continue to cooperate in the area of financial sector, among other; to develop the Asian Bond Market that could facilitates Asian savings to be smoothly reinvested in the region, encourage alternative longer term financing through capital market, and formulate the task for the regulatory oversight to deal with the complexities of financial instrument between banks and non banks financial institution.
Our ultimate objective is, of course, to establish the financial stability in the region. The role of central banks has to be in conjunction with that of other guardians of financial stability. Complexity, globalisation, and institutional interdependence forcefully argue for close cooperation between central banks, monetary authorities and other standard setters.