CHAPTER 5: DEVELOPING - 2018 Work Priorities COLLABORATIVE PARTNERSHIPS AND EXPANDING OUTREACH IN AN INTERCONNECTED - AMRO
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2018 Work Priorities
CHAPTER 5:
DEVELOPING
COLLABORATIVE
PARTNERSHIPS
AND EXPANDING
OUTREACH IN AN
INTERCONNECTED
WORLD
PARTNERSHIPS
F
orging and deepening
partnerships have been a
strategic priority of AMRO
since its inception. Through building
strong partnerships and embracing
a collaborative approach, AMRO has
fostered many win-win relationships
with partners – leveraging each
other’s experience and comparative
advantage to build capacity and
gain credibility, as well as enhancing
AMRO’s capabilities in surveillance,
CMIM support, technical assistance,
and corporate enhancement.
In 2018, AMRO set out to
introduce a holistic framework for
creating and sustaining meaningful
relationships by establishing clear
objectives, principles and target
partner groups in its Partnership
Strategy. The Strategy reaffirms
AMRO’s commitment to pursue
partnerships, which will enhance its
ability to better fulfill its mandate.
Besides a strong focus on its
comparative advantage and autonomy
in decision-making, the Partnership
Strategy also outlines priority areas
and modalities for cooperation.
AMRO’s EC endorsed this Partnership
Strategy during its meeting in Busan Deepening Engagement with discussions at the 21st ASEAN+3
in December 2018. Member Authorities Leaders’ Summit in Singapore in
November 2018. ASEAN+3 Leaders
M
ember authorities are both commended AMRO’s efforts, in
shareholders and key clients providing timely and high quality
of AMRO. As such, it is analyses on the regional economic and
essential for AMRO to strengthen financial situation, in the Chairman’s
communications with member Statement of the Summit. AMRO’s
authorities through delivering timely, involvement in the ASEAN+3 Leaders’
rigorous and comprehensive surveillance Summit for the second consecutive
products, and providing regular updates year has further entrenched its role
on its operations and developments. as a constructive contributor to the
In 2018, AMRO continued to be at ASEAN+3 cooperation process.
the forefront of economic and financial AMRO was also responsive to
developments, furnishing member member authorities’ feedback on ways
authorities with policy notes and to improve its operations, incorporating
analyses of pertinent developments their suggestions into its policy and
that impact the region. One significant strategy papers. These initiatives have
achievement is AMRO’s provision of fortified AMRO’s communication with
the policy note titled “ASEAN+3 and member authorities and increased the
External Risks: Sustaining Growth transparency of its operations and
through Cooperation” to support work.
30 ASEAN+3 MACROECONOMIC RESEARCH OFFICE
Messages
AMRO Key Achievements
Distinguished panel speakers discuss at the High-
Level Policy Dialogue on “Regional Cooperation
2018 Work Priorities
to Support Innovation, Inclusion, and Stability in
Asia,” co-organized by the AMRO, ADB and Bank
Indonesia in October 2018, in Bali, Indonesia.
Broadening Ties with regional organizations, with the aim of community. Twelve public lectures
Peer Institutions contributing to financial stability and were conducted during the year in
crisis management. Brunei, China, Indonesia, Japan, Korea,
B
uilding on the momentum of The academic community presents and Thailand. Such engagements
institutionalizing collaboration a valuable partner for information and facilitate information and knowledge
with peer institutions in 2017, knowledge exchange. AMRO’s signing exchange, enriching discussions
AMRO continued to deepen links with of an MoU with the Graduate School with diverse views from different
existing partners and established links of Public Policy of the University of backgrounds.
with new partners, amplifying the Tokyo (GraSPP) in November 2018 is Another notable achievement in
impact and reach of its work. expected to encourage the development 2018 is the EC’s approval of AMRO’s
Organization Factsheet
In October, AMRO signed a of academic exchanges, and joint Policy on Document Exchange with
Memorandum of Understanding research and events in areas of mutual other International Organizations. This
(MoU) with FLAR in Singapore. The interest. This is AMRO’s first MoU with document defines what, when, how,
MoU provides a general framework to an academic institution. Going forward, and with whom AMRO can engage
strengthen AMRO-FLAR collaboration AMRO will continue to pursue similar in document exchange. Given the
on issues of common interest through relationships with the aim of boosting importance of information sharing
joint activities, technical cooperation, its ability in fulfilling its mandate. and exchange to AMRO’s work, this
joint research and capacity building. AMRO also started delivering policy supports AMRO in fulfilling its
Given the momentum for RFSNs lectures at the sidelines of its Annual mandate by providing policy guidance
to enhance their roles in the GFSN, Consultation Visits and other visits to for document exchange, as well as
this MoU marks an important step member economies, in a bid to deepen broadening collaboration in the area
in promoting cooperation among relations with the region’s academic of information exchange.
ANNUAL REPORT 2018 31
in Brunei, and spoke as a panelist at the Working Group (IFA WG) in Seoul, Korea,
OUTREACH AND IMF-BI High-level International Conference, and the 3rd Asian Infrastructure Investment
VISIBILITY with the theme “New Growth Models in a
Changing Landscape” in Jakarta, Indonesia
Bank (AIIB) Annual Meeting “Mobilizing
Finance for Infrastructure: Innovation and
in February. Collaboration” in Mumbai, India.
A
s a newly-established international In March, AMRO participated in the In July, AMRO co-organized the 6th
organization, AMRO is keen China Development Forum in Beijing, China. Asian Regional Roundtable with ADB/
to strengthen its international The following month, AMRO was ADBI, Economic Research Institute for
presence and reputation, especially in invited to the 8th World Bank-Singapore ASEAN and East Asia (ERIA) and OECD.
the area of macroeconomic and financial Infrastructure Finance Summit in Singapore This Roundtable convened leading experts
surveillance and research. Throughout and 13th Asia-Europe Finance Ministers’ from Asia and the OECD to discuss the
2018, AMRO intensified its outreach Meeting in Sofia, Bulgaria. potential and implications of technology on
efforts by increasing its participation In May, AMRO and BSP co-organized economic growth in the region.
in, and organization of events in the a seminar with the theme “Asia’s Meanwhile, in August, AMRO
ASEAN+3 region and beyond to reinforce Emergence in the New World Order: Growth, participated in an ADB Workshop on
its position as a premier macroeconomic Integration, and Resilience” at the sidelines “Strengthening Regional Surveillance and
and financial surveillance organization and of the AFMGM+3 in Manila, Philippines. Financial Safety Net Mechanisms in Asia” in
a leading voice in the ASEAN+3 region. In the seminar, AMRO presented key Manila, Philippines.
AMRO also made more of its intellectual findings from its flagship report, AREO In October, AMRO capitalized on the
products and operational information 2018, setting the context for discussion. IMF-WB Annual Meetings in Bali, Indonesia,
accessible to stakeholders and the wider More than 120 high-level policymakers to co-organize back-to-back events with
public, hence, raising its voice and visibility and representatives from ASEAN+3, several partners. The first of these was a
on several fronts. international organizations, and academic workshop jointly organized with Boston
Building upon the regulations set institutions participated in an engaging University and Kyoto University on “Scaling
out in the Communications Policy and and fruitful discussion on how the regional Up and Leveraging Regional Surveillance”
the amended Publication Policy, AMRO economies have been able to develop into in Singapore. Another event that took
developed its Communications Strategy one of the most dynamic regions in the place at the sidelines in Bali was the 3rd
to provide clear directions and strategic global economy while remaining open RFA High-level Dialogue co-organized
approaches for the design and execution to trade and investment, and managing by AMRO, ESM and FLAR. The event saw
of its communication and outreach emerging risks and challenges. Singapore’s Deputy Prime Minister Mr
initiatives. Other events in May included the Tharman Shanmugaratnam share his
2nd RFA Seminar in Cartagena, Colombia, insights on ways to enhance the resilience
and the New Development Bank Annual of the GFSN to better support countries
Collaborating to Raise AMRO’s Meeting in Shanghai, China. during global liquidity shocks. AMRO
Voice on the Global and The month of June kicked off with also jointly convened a High-level Policy
Regional Stage AMRO’s participation in the Lujiazui Forum Dialogue on “Regional Cooperation to
in Shanghai, China. Other events that Support Innovation, Inclusion, and Stability
A
MRO actively organized and AMRO attended during the month included in Asia” with ADB and BI. Distinguished
participated in regional events and the G20 International Financial Architecture panelists – comprising ADB President
forums, widening its outreach and
networks and raising its visibility, voice and AMRO Director Dr Junhong Chang delivers the
role on the regional and global stage. This opening remarks at AMRO-BSP joint seminar
resulted in an eventful year for AMRO in with the theme “Asia’s Emergence in the New
World Order: Growth, Integration, and Resilience”
2018, with several events taking place each in May 2018 in Manila, Philippines.
month.
In January, AMRO presented
preliminary findings of its study on
resilience and growth in the face of
regional structural challenges at the 5th
AMRO-IMF Joint Seminar in Singapore.
AMRO also participated in the Shanghai
International Financial Conference in the
same month.
At the invitation of ASEAN, AMRO took
part in the ASEAN Senior Level Committee
(SLC) discussion on Financial Integration
32 ASEAN+3 MACROECONOMIC RESEARCH OFFICE
With the theme “Voyage in Growing Uncertainties,” the
Mr Takehiko Nakao, Bank of Thailand (BOT) ATFF 2018 discusses growing challenges faced by the
Messages
Governor Mr Veerathai Santiprabhob, ASEAN+3 region, including increasing trade protectionism,
National Bank of Cambodia (NBC) Deputy tightening financial conditions, and the new technological
revolution, as well as policy recommendations.
Governor Madam Neav Chanthana, BSP
Deputy Governor Mr Diwa Guinigundo,
Women’s World Banking President and
Chief Executive Officer Ms Mary Ellen
Iskenderian, MAS Managing Director Mr
Ravi Menon, and Bank Negara Malaysia
(BNM) Deputy Governor Mr Abdul Rasheed
– discussed ways to harness the potential
of new technologies for inclusive growth,
and respond to emerging challenges posed
by fintech.
Also in Bali, AMRO participated in
AMRO Key Achievements
a number of events organized by other
international organizations and the private
sector on various topics pertinent to
regional macroeconomic and financial on “Aging Populations and the Impact of Enhancing Accessibility of
developments, including debt sustainability Fiscal Sustainability in China, Japan and AMRO’s Knowledge Products
analysis, trade, neo-protectionism, Korea” in Tokyo, Japan. This Forum brought
I
financial risks and safety nets, and the Belt together policymakers and experts from n 2018, AMRO continued to explore
and Road Initiative. across the region to share their experience effective ways to disseminate its
Besides the Bali events, AMRO also in addressing challenges arising from an knowledge products to better serve
teamed up with the Ministry of Finance aging population. its audience in the ASEAN+3 region and
of China and the People’s Bank of China AMRO wrapped up the year on a high beyond.
(PBC) to co-organize a High-level Forum note. In December, the 2018 ASEAN+3 AMRO saw a greater turnout and
on the “40th Anniversary of China’s Reform Financial Forum (ATFF) themed “Voyage more engaged audience at the launch of
and Opening Up: Progress, Prospects in Growing Uncertainties” was held its second edition of the flagship report
2018 Work Priorities
and Impacts on the East Asia Region” in back-to-back with the AFCDM+3 in – AREO – in May in Manila, Philippines
Beijing, China, in October. One of the first Busan, Korea. The third installment of as well as subsequent roadshows in
and largest international conferences to this high-level event saw engaging and China, Indonesia, Singapore, Thailand
commemorate China’s reform journey and illuminating discussions among ASEAN+3 and Vietnam. For the first time, AMRO
its impact on the region, the Forum used Deputies, academics and high-level published AREO 2018 in three local
AMRO’s staff working paper titled, “China’s representatives from IFIs and other languages – Chinese, Lao, and Myanmar.
Reform and Opening-up: Experiences, multilateral organizations. The full-day This is in line with AMRO’s commitment
Prospects and Implications for ASEAN” as program focused on how ASEAN+3 to make its publications more relevant
a background document for discussion. members have continued to sustain and accessible to a larger audience in
Panelists at this High-level Forum included growth and stability in the face of growing member economies. This also helped
high-level policymakers from China uncertainties, including global trade issues increase the visibility and reach of
and the ASEAN+3 region, prominent and tightening financial conditions. In this AMRO’s materials on the Internet.
academics, senior representatives from context, the Forum discussed the future of In 2018, AMRO also published 19
international organizations and the private ASEAN+3 regional financial cooperation, reports and thematic studies, a significant
Organization Factsheet
sector. with a focus on enhancing the region’s increase from seven in 2017. These
Subsequently in November, AMRO financing arrangement – the CMIM – and included the AREO 2018, four Annual
partnered with the ISEAS-Yusof Ishak its contribution to the GFSN. AMRO, as Consultation Reports for 2018, seven
Institute to hold a seminar in Singapore the ATFF organizer, also contributed to the Annual Consultations Report for 2017,
on the same topic to further disseminate discussion by providing two introductory six thematic studies on various subjects,
the study and facilitate the discussion in a presentations on the ASEAN+3 regional and the Annual Report 2017.
regional context. The initiative reinforced economic outlook and possible evolution In October, for the first time, AMRO
AMRO’s role in leading discussions on path of the CMIM in the future. held a press conference to launch
topics pertinent to regional economic AMRO closed the year by partnering an Annual Consultation Report in
developments. with the IMF and MAS to convene a Myanmar. The event helped to increase
In the same month, AMRO, ADBI seminar under the theme “Macroeconomic dissemination of the report in the local
and Korea Development Institute (KDI) Prospects and Challenges in ASEAN: market, enhancing the public’s awareness
co-organized a High-level Policy Forum Monetary Framework in the New Normal”. of AMRO and CMIM.
ANNUAL REPORT 2018 33Strengthening Engagement Increasing AMRO’s releases, nine feature stories, and two
with the Media Online Presence infographics. This drew 140,500 page
views, a growth of almost 40% from the
A D
s a relatively young organization, igital communications – including previous year.
AMRO has identified media websites, multimedia platforms, Launched in 2017, AMRO’s blog page
coverage to be the key focus of and social media – are changing “Economic Insights” has become a regular
its public communications in the initial the way people form opinions, exchange platform for AMRO staff to share insights
stage. In 2018, AMRO was able to maintain ideas, and shape agendas. Fully aware on pressing economic issues. The number
a continuous high level of exposure in of the role of new media, AMRO actively of blogs published on the site increased
international, regional, and domestic explores novel ways in reaching out from three in the previous year to 12 in
media, through a proactive media relations to, and interacting with its audience. 2018, signifying AMRO staff’s growing
strategy. These approaches helped AMRO’s principal vehicle in this regard efforts in exchanging views and engaging
facilitate the flow of information and is its website, which provides primary in open discussions with the public.
knowledge between AMRO and its target information for external audiences. Some of the blogs were picked up and
audience. Other online platforms are also being republished in local newspapers.
During the year, AMRO Director developed as means to expand reach and In September, AMRO also started
Dr Junhong Chang and the management interaction. circulating its electronic monthly
team were featured in numerous In April, AMRO launched its corporate newsletters to interested parties,
interviews with prominent media outlets. LinkedIn Page, with the aim of interacting including member authorities, market
In addition, AMRO’s reports and analyses with professionals in economic, financial, participants, academia, and other
were cited in more than 500 news articles and public policy industries, and international organizations, to keep them
in both English and Asian local languages. attracting potential talents. informed of its main events and products.
International and local media that carried In September, following
stories about AMRO included Bloomberg, comprehensive consultations with
Reuters, the Nikkei, the Business Times, both external and internal users, AMRO
Xinhua News, the BusinessWorld, the launched a revamped website with new
Nation, and Vietnam Television, to name functions and user-friendly design that
a few. AMRO Chief Economist, Dr Hoe allows easy access to the wealth of
Ee Khor also spoke on live interviews on information. One example is the tagging AMRO Website
140,500
Bloomberg TV and Channel News Asia, and of each member economy to a dedicated
joined the Dialogue talk show on China page where all stories and reports related
Global Television Network. to that particular economy can be found.
To facilitate thought leadership, AMRO During the year, AMRO published 46 press page views
actively pitched op-eds on both regional
and country-specific issues to regional and
local newspapers. Throughout the year,
AMRO published nine opinion pieces. For
example, in May, AMRO Director, Dr Chang
co-authored an opinion article titled “Can
Services Become the New Driver of Growth
in Asia?” with BSP Governor Mr Nestor
A. Espenilla, Jr. for publication in the
BusinessWorld. In the same month, AMRO
Chief Economist, Dr Khor published the
op-ed “US Unilateral Protectionism Casts a
Long Shadow” in the Nikkei Asian Review.
In October, AMRO Deputy Director, Mr
Yasuto Watanabe contributed the article
“Preparing Asia for the Next Financial
Crisis” to the East Asia Forum Quarterly.
In the same month, AMRO staff published
an op-ed on the manufacturing sector as
a growth engine in the Myanmar Times
and two articles on China’s reforms and AMRO Chief Economist Dr Hoe Ee Khor (left)
opening-up in the Business Times and shares his views on regional economic prospects
and risks in a live interview with Bloomberg TV
People’s Daily. Philippines in May 2018, in Manila, Philippines.
34 ASEAN+3 MACROECONOMIC RESEARCH OFFICEYou can also read
