Digital fund transfer system between Asean, Japan eyed
Trade and Industry Secretary Alfredo Pascual (Voltaire F. Domingo / Senate PRIB)
TOKYO, Japan — The government will explore ways to improve supply chains through digital transformation and minimal to zero transfer of funds fee between Association of Southeast Asian Nations (Asean) member nations and Japan, Trade Secretary Alfredo Pascual on Saturday.
Pascual joined President Ferdinand “Bongbong” Marcos Jr.’s delegation to Tokyo for the 50th Commemorative Asean-Japan Friendship and Cooperation Summit.
“An example of this would be coming up with a digital system for enabling transfer of funds and digital payments with minimal or even zero fee, and having automatic exchange of currencies,” Pascual said.
Asked for more details on how this innovation could be achieved, Pascual said that it could be tackled in a session during the Asean Summit.
“We will have to pursue those initiatives in the area of digital payment in future investment promotions in Japan,” he said.
