ASEAN financial integration proves successful in capital market development: Vie

ASEAN financial integration has proven particularly successful in capital market development, capital account liberalization, financial services liberalization and insurance cooperation.

Vietnamese Finance Minister Dinh Tien Dung addressed more than 200 ASEAN country delegates at the ongoing 16th ASEAN Insurance Regulators' Meeting (AIRM) and the 39th ASEAN Insurance Council ( AIC) in Vietnam's central Da Nang city on Thursday, saying that insurance is an important pillar of ASEAN financial cooperation and has benefited from the progress towards realizing a united ASEAN Community by 2015.

ASEAN and Northeast Asian countries including China, Japan, and South Korea, have established premium risk prevention mechanisms, a roadmap for developing the securities market, and a credit guarantee and investment trust fund, Vietnam's state-run radio online Voice of Vietnam quoted the official as saying.

During the two-day meeting, AIC members will share experiences in developing new insurance products and innovative risk sharing mechanisms, with priority given to natural disaster risks.