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☆ Indonesia held multiple engagements on Myanmar, urges end to violence, minister says
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: 1 min

JAKARTA, May 5 (Reuters) - Indonesia's foreign minister on Friday confirmed her country had engaged with Thailand, China, India and the United Nations on the crisis in Myanmar, as well as Myanmar's key stakeholders, during which it called for an immediate halt to violence. Foreign Minister Retno Marsudi told a press conference it was crucial to build trust and not use megaphone diplomacy. Retno earlier on Friday told Reuters exclusively that Indonesia, the chair of the Association of Southeast Asian Nations (ASEAN), had been communicating with key stakeholders in Myanmar's crisis, with its diplomats involved in more than 60 engagements in the past four months. Reporting by Ananda Teresia; Writing by Martin Petty; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. It also came as Asian policymakers, gathering for the annual Asian Development Bank (ADB) meeting this week in the South Korean city of Incheon, discussed regional economic challenges and ways to beef up buffers against various shocks. In a joint statement issued after their meeting on Tuesday, Asian finance leaders warned of risks to the region's economy and called for countries to stay vigilant to potential spillovers from the recent U.S. and European banking sector turmoil. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

SummarySummary Companies Japan, South Korea hold 1st bilateral finance meeting in 7 yearsTwo nations to resume regular finance dialogue, likely annualAsia policymakers to discuss safeguardsINCHEON, South Korea May 2 (Reuters) - Japan and South Korea held their first finance leaders' meeting in seven years on Tuesday and agreed to resume regular dialogue, as tensions in the region and slowing growth prod them to increase co-operation and mend strained relations. The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea next week for talks with President Yoon Suk Yeol. "Japan and South Korea are important neighbours that must cooperate to address various challenges surrounding the global economy, as well as the regional and international community," Japanese Finance Minister Shunichi Suzuki said at the meeting with his South Korean counterpart Choo Kyung-ho. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances the use of existing currency swap lines, and allows members to tap funds in emergencies, said three sources with direct knowledge of the matter. But the swap lines have never been used, not even during the COVID-19 pandemic, leading to calls within the group for the system to be more accessible. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

SummarySummary Companies ASEAN+3 finance leaders meet in Incheon, South Korea, TuesdayJapan hopes to propose strengthening currency swap linesExpansion will offer better safeguards vs pandemic, disastersINCHEON, May 2 (Reuters) - Asian finance leaders on Tuesday will debate ways to beef up regional safeguards to better address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. Japan, which co-chairs this year's meeting of ASEAN+3 nations with Indonesia, hopes to discuss strengthening currency swap lines, Finance Minister Shunichi Suzuki told reporters on Friday. Japan is keen to propose a facility that enhances usage of existing currency swap lines, and allows members to tap funds in times of emergencies such as pandemics and natural disasters, said three sources with direct knowledge of the matter. But the swap lines have never been used, including during the COVID-19 pandemic, giving rise to calls from within the group to make the system more easily accessible in the event of shock events. The ASEAN+3 finance leaders, including Suzuki and Bank of Japan (BOJ) Governor Kazuo Ueda, are meeting on the sidelines of the ADB's annual meeting in Incheon in South Korea this week.

"It's not as if we're heading into a major crisis now," Suzuki said. Suzuki said he plans to attend the ASEAN+3 meeting on Tuesday, to be held on the sidelines of the Asian Development Bank's (ADB) annual meeting in Incheon in South Korea next week. The Bank of Japan also said its Governor Kazuo Ueda will travel to Incheon on May 1-4 to attend the meetings. The International Monetary Fund has urged Asian central banks to keep monetary policy "tighter for longer" to combat still substantial inflation risks. Reporting by Leika Kihara; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Myanmar's neighbours, some ASEAN members hold secretive talks on crisis - sources
▼ + stars: | 2023-04-26 | by ( Devjyot Ghoshal | ) www.reuters.com time to read: +3 min

BANGKOK, April 26 (Reuters) - Government and think-tank representatives from Myanmar and its neighbours, including India and China, held talks in New Delhi on Tuesday as part of a secretive effort to de-escalate a bloody crisis in the army-run Southeast Asian nation, two sources said. One of the sources said participants were interested in bringing into the process Myanmar's shadow National Unity Government (NUG), an organisation affiliated with the resistance and declared "terrorists" by the junta. "The neighbouring countries' perspective needs to be taken into account," said the source, "For them, the foremost priority is the de-escalation of the violence." ASEAN has barred the junta from attending until they implement the plan, which has infuriated the generals. "This effort will not supplant ASEAN," the second source said of the ongoing talks, "This will only complement."

☆ Australia PM says Sydney to host Quad leaders' summit on May 24
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, April 26 (Reuters) - Australian Prime Minister Anthony Albanese said on Wednesday that Sydney will host the 2023 Quad Leaders' summit on May 24, the third in-person meeting of the leaders of Australia, the United States, India and Japan. "I am honoured to host the first ever Quad Leaders' Summit in Australia in Sydney," Albanese said. China sees the Quad as an attempt to push back against its growing influence in the Indo-Pacific. Albanese said he also plans to visit the US when Biden hosts the Asia-Pacific Economic Cooperation summit in the second half of the year. Reporting by Renju Jose in Sydney; Editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

☆ ASEAN 'strongly condemns' deadly airstrike in Myanmar which reportedly killed up to 100
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: +1 min

Young demonstrators at an anti-coup protest in Yangon, Myanmar, on July 17, 2022. Myanmar has been in chaos since a military coup in early 2021 that upended a decade of tentative democratic reform, with a bloody crackdown on protests giving rise to an armed struggle against the junta. The chair of the Association of Southeast Asian Nations said on Thursday the bloc "strongly condemns" a military airstrike this week on a village in Myanmar, which is reported to have killed up to 100 people including civilians. Tuesday's attack in the Sagaing area was the deadliest in a recent string of military air attacks, with children reported to be among the dead, and has drawn global condemnation. Myanmar has been in chaos since a military coup in early 2021 that upended a decade of tentative democratic reform, with a bloody crackdown on protests giving rise to an armed struggle against the junta.

☆ ASEAN "strongly condemns" deadly air strike in Myanmar
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, April 13 (Reuters) - The chair of the Association of Southeast Asian Nations (ASEAN) said on Thursday the bloc "strongly condemns" a military air strike this week on a village in Myanmar, which is reported to have killed up to 100 people including civilians. Tuesday's attack in the Sagaing area was the deadliest in a recent string of military air attacks, with children reported to be among the dead, and has drawn global condemnation. "All forms of violence must end immediately, particularly the use of force against civilians," chair Indonesia said in a statement. "This would be the only way to create a conducive environment for an inclusive national dialogue to find a sustainable peaceful solution in Myanmar," it said. A junta spokesperson said Tuesday's attack targeted a ceremony held by the NUG for their armed People's Defence Force, adding the attack aimed to restore peace and stability in the region.

☆ Malaysia says Beijing concerned about its energy projects in South China Sea
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

KUALA LUMPUR, April 4 (Reuters) - Malaysian Prime Minister Anwar Ibrahim on Tuesday said Beijing has expressed concerns about energy activities by Malaysian state firm Petronas in the South China Sea, even though Kuala Lumpur believes the projects are in its territory. China claims sovereignty over almost the entire South China Sea, through which about $3 trillion worth of ship-borne trade passes annually. China was worried that "Petronas has carried out a major activity at an area that is also claimed by China," Anwar said, responding to a parliamentary question about his discussions on the South China Sea during his visit to China last week. China claims its territory via a "nine-dash line" on its maps, which cuts into the EEZs of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. Malaysia's foreign ministry will issue a protest note if there were "collisions" between Malaysian and Chinese vessels there, Anwar said.

☆ Southeast Asian finance leaders discuss containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Talks between Southeast Asian central bank governors and finance ministers entered their final day on Friday, with the leaders focused on strengthening the region's resilience against global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Indonesia's central bank governor Perry Warjiyo called on the forum to boost the use of local currencies for settlements to reduce volatility and exposure to major currencies. They also discussed cryptocurrencies and central bank digital currencies, he added. Reporting by Stefanno Sulaiman; additional reporting by Ananda Teresia in Jakarta Editing by Ed Davies, Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Southeast Asian finance leaders in talks on containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Southeast Asian central bank governors and finance ministers are set to wrap up talks on Friday, after meeting in Bali this week for discussions often focused on how the region can remain resilient in the face of a spike in global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Dody also said finance deputies discussed connecting payment systems in the region, even though the infrastructure of some ASEAN countries was not fully developed yet. They also discussed cryptocurrencies and central bank digital currencies, he said. They knew the memory of the Asian financial crisis," Philippine central bank governor Felipe Medalla told the seminar on economy resiliency.

☆ Vietnam communist party chief, Biden agree to boost ties in phone call
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

HANOI, March 30 (Reuters) - The chief of Vietnam's ruling Communist Party Nguyen Phu Trong and U.S. President Joe Biden agreed in a telephone call on Wednesday to "promote, develop and deepen" ties, Vietnam's state media reported. The United States is now Vietnam's largest export market and the two former foes are celebrating the 10th anniversary of a "comprehensive partnership" this year. The report said Trong, who is Vietnam's most powerful figure, and Biden repeated invitations to visit each others country. In October, Trong was the first foreign leader to meet Xi Jin Ping in Beijing after he secured a precedent-breaking third term as General Secretary at the Chinese Communist Party. Reporting by Khanh Vu in Hanoi and David Brunnstrom in Washington Editing by Ed Davies and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ US to announce more sanctions against Myanmar junta -State Dept official
▼ + stars: | 2023-03-22 | by ( Stanley Widianto | ) www.reuters.com time to read: +2 min

JAKARTA, March 22 (Reuters) - The United States will announce further sanctions against entities inside Myanmar in the coming days, a senior State Department official said on Wednesday. Speaking to reporters in Jakarta, U.S. State Department Counselor Derek Chollet said the sanctions will make it more difficult for Myanmar's junta to generate revenue to buy weapons. To date, the United States has imposed sanctions on 80 individuals and more than 30 entities inside Myanmar, Chollet said. He said that to see a solution to the Myanmar conflict, Russia must stop supplying military equipment to the junta. ASEAN currently bars junta leaders from high-level meetings, but has demurred on imposing sanctions and ruled out ousting Myanmar from the 10-member regional bloc.

☆ How Indonesia is using diplomacy to call for the end of Russia's war in Ukraine
▼ + stars: | 2023-03-16 | by ( Sponsor Post | Created Insider Studios With Fcdo | ) www.businessinsider.com time to read: +6 min

Indonesia has joined the vast majority of the world's countries in condemning Russia's invasion of Ukraine. Agriculture, IT, and energy are just a few of the areas with potential for partnership between Indonesia and Ukraine. Indonesia has worked hard to build bridges in the interests of global trade and regional stability. Bilateral opportunities: Trade between Indonesia and Ukraine totaled $1.24 billion before Russia invaded Ukraine. 141 countries, including Indonesia, voted in favor of Russia's immediate, complete, and unconditional withdrawal from Ukraine.

☆ Singapore to work with Indonesia, ASEAN, UN to push Myanmar peace plan - PM
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

[1/5] Singapore's Prime Minister Lee Hsien Loong meets with Indonesia's President Joko Widodo at the Istana in Singapore March 16, 2023. REUTERS/Edgar Su/PoolSINGAPORE, March 16 (Reuters) - Singapore Prime Minister Lee Hsien Loong said on Thursday the city-state would work with Indonesia and other Southeast Asian countries, as well as partners like the United Nations, to push Myanmar's military rulers to implement a stalled peace plan. "Singapore will continue working with Indonesia and ASEAN members, plus ASEAN's partners like the U.N., to push for the full implementation of the five-point consensus," he said, referring to the peace plan that Myanmar's top general agreed to with ASEAN. In addition, Singapore and Indonesia would work together on developing renewable energy, their leaders announced. Reporting by Xinghui Kok in Singapore and Stanley Widianto in Jakarta; Editing by Ed Davies and Martin PettyOur Standards: The Thomson Reuters Trust Principles.

☆ South Korea's Yoon arrives in Tokyo hours after North's missile launch
▼ + stars: | 2023-03-15 | by ( Sakura Murakami | ) www.reuters.com time to read: +4 min

[1/6] South Korea's President Yoon Suk Yeol and his wife Kim Keon-hee arrive at Tokyo International Airport (Haneda Airport) in Tokyo, Japan March 16, 2023. Before Yoon's flight, North Korea fired a long-range ballistic missile, which landed in the sea between the Korean peninsula and Japan, emphasising both the urgency of regional security and the threat posed by North Korea. "There is an increasing need for (South) Korea and Japan to cooperate in this time," Yoon said in a written interview with international media on Wednesday, calling both North Korea's nuclear and missile threats and supply chain disruptions a "polycrisis". South Korea and Japan at the time agreed to exchange real-time intelligence on North Korea's missile launches, which experts say will help both countries better track potential threats. Tokyo worries that Russia's invasion of Ukraine has set a precedent that will encourage China to attack self-ruled Taiwan.

☆ South Korea, Japan to Hold First Two-Way Summit Talks in More Than a Decade
▼ + stars: | 2023-03-09 | by ( Alastair Gale | ) www.wsj.com time to read: 1 min

Japanese Prime Minister Fumio Kishida, right, greeting South Korean President Yoon Suk Yeol during an Association of Southeast Asian Nations summit in Cambodia last year. TOKYO—South Korean President Yoon Suk Yeol will visit Tokyo for talks with Japanese Prime Minister Fumio Kishida next week, a resumption of two-way summit diplomacy after more than a decade as tensions with North Korea and China drive the U.S. allies to work more closely together. The trip, announced by both sides on Thursday, comes after the South Korean government released a plan earlier this week for paying compensation to Koreans who were forced to work for Japanese companies during World War II. Under the plan, the companies themselves wouldn’t have to pay.

Indonesia's Foreign Minister Retno Marsudi met with Chinese counterpart Qin Gang in Jakarta, ahead of a round of negotiations on the code starting in March. Qin added that China and ASEAN will jointly safeguard peace and stability in the strategic trade corridor, through which about $3.4 trillion of goods pass each year. China would work with ASEAN countries to accelerate consultations on the code, he said. Beijing claims much of the South China Sea and has built islands from which it is capable of deploying advanced weaponry. China and ASEAN countries agreed in 2002 to work towards creating a code of conduct and it was 15 years before moves were underway to create a framework for negotiations.

☆ Investors turn picky in Asia after easy wins from China’s reopening
▼ + stars: | 2023-02-09 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

Herald van der Linde, HSBC's head of equity strategy for Asia Pacific, points out that travel and gaming stocks have already benefited. That has led investors to hunt for sectors and companies with depressed valuations outside China. Reuters GraphicsMSCI China Vs MSCI Asean vs MSCI Asia excluding JapanGLOBAL PUSH OR CHINA PULL? After a torrid 2022, investors have been betting that a swift recovery in China's economy will somewhat cushion the impact of a global slowdown and possible recession. "China and its reopening trade, on the other hand, are in early stages and may be the additional tailwind for Asian equities later this year."

☆ ASEAN chair Indonesia to intensify talks on code for South China Sea
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Willy KurniawanJAKARTA, Feb 4 (Reuters) - Indonesia plans to intensify talks with China and other Southeast Asian countries to finalise a code of conduct (COC) for the disputed South China Sea, its foreign minister said on Saturday, amid escalating tensions in the strategic waterway. Indonesia is preparing to host a round of negotiations on the COC this year, the first taking place in March, the foreign minister said. China claims jurisdiction over almost the entire South China Sea based on its U-shaped "nine-dash line", a boundary found to have no legal basis by the Permanent Court of Arbitration in the Hague in 2016. ASEAN members the Philippines, Vietnam, Malaysia and Brunei all have overlapping claims with China in the strategic waterway. Separately, ASEAN members wrapped up talks having only reiterated support for the bloc's five-point peace plan on Myanmar which includes the cessation of conflict in the conflict-torn nation and the start of dialogue.

JAKARTA, Feb 1 (Reuters) - Indonesia plans to send a top general to Myanmar to talk to its junta leaders in the hope of showing Myanmar's military rulers how Indonesia made a successful transition to democracy, President Joko Widodo said on Wednesday. We have the experience, here in Indonesia, the situation was the same," the president, who is widely known as Jokowi, told Reuters in an interview in his offices in Jakarta. The military took over in Myanmar in 1962, isolating the country and suppressing dissent for decades until a tentative opening up began in 2011. Other members have appeared increasingly frustrated with the Myanmar military and are keen to maintain a ban on its top officials taking part in ASEAN forums. Managing rifts over Myanmar, and escalating tension in the disputed South China Sea, will be among the main challenges for Indonesia in its role as ASEAN chair.

☆ Myanmar junta hits out at critics while thanking some countries for help
▼ + stars: | 2023-01-04 | by ( ) www.nbcnews.com time to read: +3 min

Myanmar’s junta chief on Wednesday lashed out at countries for intervening in his country’s affairs while thanking others for “positively” cooperating, noting how it was working closely with neighbors such as China, India and Thailand. We will work together for border stability and development,” Min Aung Hlaing said in a televised speech from a national day parade in the capital, Naypyitaw. Suu Kyi is being held in a jail in Naypyitaw in solitary confinement, and the military insists she has received due process in an independent court. The United States, the European Union and countries such as Britain and Canada have imposed sanctions on Myanmar’s military and individuals deemed to have helped the junta come to power. Referring to international pressure, Min Aung Hlaing hit out at what he said were “disruptions from countries and organizations who want to intervene in Myanmar’s internal affairs.”Still, the junta has maintained some international support.

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