"As regional cooperation and integration deepens on trade and investment in the real sector, there is an urgent need to increase the scope and intensity of linkages between real and financial sectors cooperation in East Asia. In this context, the Chiang Mai Initiative (CMI) Multilateralization (CMIM) is in the right direction. An important mechanism to achieve CMIM is the establishment of an Independent Surveillance Unit (ISU). It would be difficult to see how CMIM could operate without a dedicated institution to carry out economic surveillance and coordinate the mechanism. The Independent Surveillance Unit which will be called the ASEAN + 3 Macroeconomic Research Office (AMRO) will be in operation in May 2011 in Singapore."