The Department of Finance is hosting a series of related meetings on the Asia-Pacific Economic Cooperation (APEC) the output of which will form part of the Cebu Action Plan that will be launched during the APEC Finance Ministers Meeting in September in Mactan.
The series of APEC meetings started Tuesday, March 3, in Tagaytay City with the Asia-Pacific Forum on Financial Inclusion. The APEC Public Private Partnership (PPP) Experts Advisory Panel Meeting is set on Wednesday, March 4, as well as the Asia-Pacific Infrastructure Partnership Meeting.
The APEC Finance and Central Bank Deputies’ Meeting is set on March 5 and 6.
Held under the APEC Philippines 2015 theme of “Building Inclusive Economies, Building a Better World”, these meetings aim to promote discussions on various financial policies and programs affecting the 21 APEC member economies, as well as the regional network.
Specifically, delegates will tackle issues on financial inclusion, financial transparency, and financial resiliency, among others.
In keeping with the three APEC pillars of trade and investment liberalization, business facilitation, and economic and technical cooperation, these meetings are targeted toward the development of a more integrated financial network within the Asia-Pacific region, said DFA spokesperson Charles Jose.
In line with the outcome of the meetings in Tagaytay, Jose said the Cebu Action Plan envisions an APEC community that is more financially integrated, transparent, and resilient.
The plan proposes the harmonization of APEC economies’ policies, rules, and practices to facilitate free trade and the free flow of cross-border investments.
It wants to ensure good governance that results in sustainable and inclusive economic growth and rapidly growing and robust financial markets that offer diversified financial instruments.
“It is within this context that the series of meetings in Tagaytay will take place, with the aim of promoting a more open and accessible financial environment in the region,” Jose said in the statement. (with a report from PND)
