Singapore, 11 May 2004...The Finance Ministers of ASEAN, China, Japan and the Republic of Korea (ASEAN + 3) will meet in Jeju, Korea on 15 May 2004.  This is the first time that Singapore is chairing this event since the ASEAN + 3 Finance Ministers process was officially established in 2000.

The Finance Ministers and their deputies from the ASEAN + 3 countries meet annually to discuss economic and financial developments and policies, and review the progress of regional financial cooperation initiatives.

The Meeting in Jeju will include discussions on the progress of the various initiatives such as the Chiang Mai Initiative and the Asian Bond Market Initiative. The Finance Ministers will also launch the Asian Bonds Online website which has been developed with the assistance of the Asian Development Bank (ADB).  The website is a one stop information portal that provides information on the bond markets in the region.

The Meeting will be attended by Finance Ministers of the following countries:  Brunei Darussalam, Cambodia, Indonesia, Japan, Lao PDR, Malaysia, Myanmar, the People's Republic of China, the Philippines, the Republic of Korea, Thailand and Vietnam.  The Singapore delegation will be led by Mr Lim Hng Kiang, Minister in the Prime Minister's Office and Second Minister for Finance. Minister Lim will chair the Meeting.

Minister Lim will also attend the 37th Annual Board of Governors Meeting of the ADB which takes place in Jeju, Korea from 15 to 17 May 2004.

***

Notes to Editor

Media are invited to cover the press conference where a joint ministerial statement would be issued. Details of the press conference are as follows:

Date: Saturday, 15 May 2004,

Time: 5:30pm (4:30pm, Singapore time)

Venue: Halla Room 1
             The Shilla Cheju
             3039-3 Saekdal-dong
             Seoguipo Jeju-do

Only media accredited for the ASEAN + 3 Finance Ministers meeting and/or the Asian Development Bank's (ADB) 37th Annual Meeting of the Board of Governors are allowed to attend the press conference. 

More information on the ASEAN meetings and initiatives is available at www.aseansec.org .