amando m tetangco, jr : ensuring efficient & eco - friendly asean mints speech by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at the 14th technical meeting of mints in asean ( teman ), manila, 23 november 2009. * * * distinguished members and participants to the 14th technical meeting of mints in the asean, special guests, good morning! on behalf of the bangko sentral ng pilipinas and our security plant complex, it is with pleasure that i welcome all of you to the philippines for the 14 teman conference. as you may have noticed, the conference theme we adopted is spcwhich stands for “ strengthening partnership and cooperation. ” i understand that in indonesia, the abbreviated word teman means friends. what better way to move forward with friends therefore than to strengthen partnership and cooperation. the organizing committee envisions the conference to be a catalyst for new and dynamic ideas, for critical thinking, and for open discussions on issues affecting the minting industry. among others, we want to create more value for our products, to facilitate advancements and enhancements in our systems, and to contribute ultimately in the broader and lofty task of building up our respective nations. indeed, teman plays a vital role in empowering its member mints to provide quality products and services to their people. given the global financial crisis that had triggered a global economic slowdown, teman must take appropriate steps to work out a common agenda that will promote process and cost efficiencies, while addressing urgent issues such as the need to adopt more environment - friendly processes. ladies and gentlemen. the world has realized that there is no progress to speak of if this is made at the expense of the environment ; because in the end, it is a step backward not forward if the environment suffers as a result of our operations. we have seen how industrialization made for the benefit of human beings has been generating toxins and pollutants which now threaten the very same human beings. the challenge for teman therefore is to align itself with the goals of the association of southeast asian nations which is committed to continue sustainable development or the pursuit of a green and eco - friendly economy. afterall, the 10 teman members have one thing in common : we are all members of asean. that goes for brunei darussalam, cambodia, indonesia, lao pdr

fatf ), the body that evaluates the anti - money laundering regimes of individual countries. meanwhile, section 4 of circular no. 1389 dated 13 april 1993, as amended, requires any person who brings in or out of the philippines an amount exceeding php 10, 000 to obtain prior bsp authorization therefore. the rule was promulgated to help prevent speculation against the peso and maintain the convertibility of the currency. vigilance in the implementation of the bsp rules, particularly in the transport of foreign currencies, is important in addressing incidents such as recent events involving the discovery by u. s. customs authorities of large amounts of undeclared foreign currency found in the possession of filipino citizens arriving in the u. s. we are glad that we will be assisted by other government agencies in this regard. the moa defines the functions and responsibilities of the various government agencies involved and aims to promote harmony and maximum cooperation in the implementation of bsp rules on the transport of currencies. the moa demonstrates the strong commitment of the government, thru the heads of the various agencies who are signatories to the agreement, in instituting measures versus money laundering in the philippines. again, thank you for your support and we look forward to the smooth implementation of the moa.