Veerathai Santiprabhob: Asian Financial Cooperation Association (AFCA) - enhancing financial connectivity and cooperation within Asia

Keynote speech by Dr Veerathai Santiprabhob, Governor of the Bank of Thailand, at the Opening Ceremony of the Asian Financial Cooperation Association (AFCA), Beijing, 24 July 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Today's opening ceremony of the Asian Financial Cooperation Association (AFCA) is a very auspicious occasion, and I am honoured to be a part of this historical event. I would like to congratulate the Chinese government for successfully establishing AFCA - a new forum, which I am certain, will play a significant role in enhancing financial connectivity and cooperation within Asia. I would therefore like to take this opportunity to share with you my thoughts on how we can further enhance financial connectivity to ensure sustained shared benefits - as stated in AFCA's mission.

Ladies and gentlemen,

People have long been connected by trade along the ancient Silk Road dating back more than 2,000 years ago. Today in modern times, many trade and investment agreements between China and other Asian countries have promoted close economic ties in the region. Thanks to the Chinese leadership, the spirit of connectivity and cooperation is further enhanced through the One Belt One Road initiative. The Asian Infrastructure Investment Bank (AIIB) is an added funding impetus to ensure that there will be physical infrastructure connectivity, laying the strong foundation for shared economic prosperity.