ASEAN + 3 countries discuss threats from rising protectionism, geopolitics

MANILA (Reuters) - Finance ministers and central bank governors of East and Southeast Asian countries discussed the threat of trade frictions and rising protectionism on Friday and pledged to stay vigilant and work preemeptively to avert threats to the global economy.

In a statement after the meeting of the ASEAN plus three on the sidelines of the annual Asian Development Bank meeting in Manila, representatives of the 13 countries said protectionism, geopolitical tensions and a faster-than-expected tightening in global financial conditions were adding to uncertainty about recovery.

"These risks, individually or collectively, threaten the recovery in the global economy, and could induce large capital outflow and financial volatility in our region," they said.

The ASEAN plus three includes the 10 Association of South East Asian Nations members and Japan, China and South Korea.

(Reporting by Neil Jerome Morales and Karen Lema; Writing by Martin Petty; Editing by Kim Coghill)

Related News

Q&A: What's at stake in Indonesian capital's heated election

Feb 14, 2017

Residents of Indonesia's capital are set to vote in an election for governor that has become a battleground in a high-stakes tug-of-war between conservative and moderate forces in the world's most populous Muslim nation

Indonesian capital votes in test for moderate values

Feb 15, 2017

Voting was underway for governor of the Indonesian capital after a divisive campaign in which the monumental problems facing Jakarta took a backseat to religious intolerance and racial bigotry

Run-off election for Jakarta governor may heighten tensions

Feb 16, 2017

A tight and possibly ugly contest is expected in a second round election for governor of the Indonesian capital that will pit the minority Christian incumbent against a former cabinet minister backed by conservative Muslim clerics