ASEAN+3 Finance Think-tank Network Grows to Amplify Regional Cooperation

ASEAN+3 Finance Think-tank Network Grows to Amplify Regional Cooperation

Amid a rapidly evolving global landscape, the ASEAN+3 region faces mounting challenges—from escalating trade protectionism to structural shifts like aging populations, climate change, and technological disruptions. In this complex environment, regional cooperation and collective thinking are more vital than ever.

Launched in September 2023, the ASEAN+3 Finance Think-tank Network (AFTN) embodies this spirit of collaboration. With strong support from the ASEAN+3 members, AFTN connects AMRO with leading think-tanks and research institutions to share insights, foster policy dialogue, and jointly develop solutions to promote regional macroeconomic and financial stability, resilience, and sustainability.

AFTN in action: Building a regional community of ideas

In less than two years, AFTN has grown into a dynamic and impactful platform for regional cooperation. It has hosted over 60 events, including its flagship AFTN Seminar, launched in 2024 and has been successfully held twice to date—focusing on population aging and technology development, respectively. AMRO Café Fridays, another regularly held event, has spotlighted critical issues like digital assets, corporate default risks, and central bank digital currencies.

These initiatives have promoted knowledge sharing, strengthened policy coordination, and enhanced capacity building across the region. As a win-win cooperation platform, all AFTN members have benefited from this network by amplifying their regional presence, deepening collaborative ties, and promoting economic resilience and stability through shared expertise and resources. Notably, insights from the 2024 AFTN Seminar on population aging informed discussions at the ASEAN+3 Finance Ministers’ Fiscal Exchange in May 2025, underscoring the network’s influence in shaping regional policy dialogue.

AMRO’s surveillance function has also been steadily reinforced through targeted workshops during annual consultation visits and played a key role in promoting AMRO’s flagship products—including the ASEAN+3 Regional Economic Outlook (AREO) report, ASEAN+3 Fiscal Policy Report (AFPR), and ASEAN+3 Financial Stability Report (AFSR)—via joint outreach and discussion events.

In addition, AFTN has championed joint research initiatives, such as the multi-stakeholder project on the Fiscal Management of Social Protection Systems in selected ASEAN+3 economies. This research identified underdeveloped public financial management frameworks as a key barrier to the sustainable development of social protection systems, highlighting the critical need for stronger governance and fiscal management as the foundation for resilience. AFTN has also organized regional events and seminars like the ASEAN-Korea Financial Cooperation Forum, exploring themes like financial inclusion, digital transformation, financial stability, and banking regulation.

Capacity building has been another important pillar. The AMRO-HKMA-ADBI Financial Leadership Training Program has brought together senior policymakers from the region to sharpen analytical and leadership skills through discussions on macroeconomic and structural issues, including climate risks and AI, and hands-on exercises like a net-zero roleplay.

In 2025, AFTN took a significant step forward. The impact of its early initiatives on regional policy discussions not only laid a robust foundation but also demonstrated the need to amplify its value. This momentum paved the way for membership expansion. Led by the Malaysian Ministry of Finance—Co-chair of the 2025 ASEAN+3 Finance Process—and with strong support from ASEAN+3 members, the Network welcomed seven new members from five member economies, expanding its reach from 21 to 28 institutions.

New members include:

• Cambodia Development Resource Institute (CDRI)
• Institute of Malaysian and International Studies at Universiti Kebangsaan Malaysia (IKMAS-UKM)
• Institute of World Economics and Politics, Chinese Academy of Social Sciences (IWEP-CASS)
• Khazanah Research Institute (KRI)
• Korea Institute for International Economic Policy (KIEP)
• Thailand Development Research Institute (TDRI)
• Xiamen National Accounting Institute (XNAI)

This expansion enhances the Network’s geographical reach, research diversity, and collective capacity—positioning AFTN to better tackle complex global and regional challenges.

Existing members warmly welcomed the newcomers and reaffirmed their commitment to collaboration and peer learning. The expansion was also recognized at the 28th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM+3) in May 2025, where top officials expressed confidence in AFTN’s growing role in advancing ASEAN+3’s macroeconomic and financial resilience and stability.

With an expanded network and growing momentum, AFTN is poised to play a more influential role in regional economic dialogue and serve the interests of all members. It will continue supporting AMRO’s policy work by contributing regional insights and serving as a bridge between research and policymaking.

Ultimately, the AFTN is more than a network—it is a community of thought leaders united by a common goal: advancing resilience, stability, and prosperity across ASEAN+3. In an age of uncertainty, its value lies in its collective power.

As the saying goes, “One plus one is greater than two.” When 28 institutions unite, their collective impact can far exceed the sum of their individual contributions.

Source: Amro