ASEAN finance ministers to discuss cooperation, integration in Laos

According to a draft joint statement obtained by Kyodo News, the ministers and governors will also discuss issues related to capital market development, financial services liberalization, capital account liberalization, and payment and settlement systems, taxation, insurance and customs.

The draft says they will "intensify our cooperation and integration initiatives to strengthen ASEAN's resilience against possible changing market conditions and potential external shocks and volatile financial market conditions."

It says implementation of structural reforms, aimed at strengthening domestic demand in order to support sustainable and inclusive economic growth in the region, "remains a key priority."

ASEAN is one of the largest economic zones in the world with a market of more than 600 million people. The regional economy grew by 4.5 percent in 2015, despite the global economic downturn.