zeti akhtar aziz : expanding asean - eu economic links - the role of the euro speech by dr zeti akhtar aziz, governor of the central bank of malaysia, at the euro conference a€œexpanding asean - eu economic links - the role of the euro ", kuala lumpur, 14 july 2005. * * * your excellency ambassador thierry rommel, head of the eu commission delegation in malaysia, your excellencies, distinguished guests, ladies and gentlemen, good morning. it is my great pleasure to welcome you to the " euro conference : expanding aseaneu economic links - - the role of the euro ". bank negara malaysia is indeed honoured to co - host this event and would like to especially thank the european commission for the opportunity. the purpose of this conference is to bring together recognised experts to discuss the important issues affecting economic, monetary and financial interests in asean and the eu. i believe that the exchange of ideas and views over the next two days would contribute towards an increased understanding of the developments and issues important to our respective regions. our agenda is for the further strengthening of the close asean - eu partnership that offers mutually reinforcing benefits to both regions. it is our hope that this conference would serve as a catalyst to promote greater appreciation of the potential for an expanded asean - eu economic relationship - a relationship in which trade and investment flows between our regions can be enhanced. the asean - eu partnership has developed steadily over time through a number of well - established forums. this has taken place in a global environment in which the world economies and financial systems are increasingly becoming more integrated. as a result, it can be expected that there is increased interdependence, events that take place in one part of the world will have implications on other parts of the world. this is likely to be more pronounced in the asean economies and financial systems, given their openness and their high degree of integration with the global economy and international financial system. as the asean and the eu continues to evolve as strategic partners, new opportunities can also be realized. an enhanced relationship will also contribute towards more effective management of the new challenges in the ever - changing global environment. indeed, this conference takes place at an important time when it becomes even more constructive and meaningful for our two regions to strengthen our associations, our inter - linkages and our relationships. learning from the experiences of the eu ladies and gentlemen, the unification of europe on many fronts is a major structural enhancement to

make judgements in situations that are not always well - defined. taken in this context, the work of the fspb serves as an important anchor for decisions and actions that will engender trust in the financial industry. in a fast moving world, a strong commitment to a professional code of conduct provides the assurance that the public seeks – that financial institutions and employees are held to and will consistently demonstrate high standards of professional and ethical conduct. i hope that the industry will continue to lend its strong support to the fspb ’ s work. following today ’ s launch of the professional code, the bank would urge financial institutions and professional bodies to reflect the standards set out in the code in the values and conduct that you demand of your staff, agents and members. this needs to move beyond symbolic gestures, to the diligent implementation of policies and programs that promote the desired culture. the bank is confident that the fspb will continue to play an important role in supporting these efforts – including through its work to identify implementation challenges, develop solutions and introduce improvements to reflect emerging issues. the financial industry has demonstrated leadership in so many areas – surely none can be as important as leadership in something as fundamental as professional and ethical conduct. on that note, let me once again commend and congratulate the fspb on this important, and certainly most relevant initiative. 3 / 3 bis central bankers'speeches