At the event (Source: VNA) Khanh Hoa (VNA) – The APEC Finance and Central Bank Deputies’ Meeting (FCBDM)successfully concluded in Nha Trang city in the central coastal province ofKhanh Hoa on February 24 after two days of working.
The event wasco-chaired by Vice Minister of Finance Tran Xuan Ha and Deputy Governor of theState Bank of Vietnam Nguyen Thi Hong.
The hosting of themeeting marked an important milestone in the Vietnam Chairmanship of the APECFinance Ministers’ Process and the APEC Vietnam 2017 in general.
Addressing theevent, APEC 2017 SOM Chair Bui Thanh Son said the APEC Finance Ministers’Process plays a crucial and indispensable role in APEC cooperation. The goalset in the Cebu Action Plan to build an APEC community that is more financiallyintegrated, transparent, resilient, and connected, is indeed vital to support strong,sustainable, inclusive and balanced growth in the region, he added.
The APEC SeniorOfficials’ Meeting (SOM 1) and the Senior Finance Officials’ Meeting (SFOM) arealso mutually supportive and complementary. There are a range of areasaddressed by both SOM and SFOM, including infrastructure, infrastructureinvestment for food security, financial services, women’s economic empowerment,finance for micro-, small- and medium-sized enterprises (MSMEs), human resourcesdevelopment and disaster risk reduction.
During thetwo-day meeting, the delegates discussed recent economic and financialdevelopments and outlook in the APEC region in order to identify appropriatepolicy responses for APEC economies to cope with the global economicvolatilities as well as cooperation priorities for the 2017 APEC FMP and theirimplementation plans.
They discussedand agreed upon the implantation plans on the 4 priority policy themes whichinclude: Long-term financing for infrastructure; Base erosion and profitshifting (BEPS); disaster risk financing and insurance; and financialinclusion.
The Finance andCentral Bank Deputies discussed and agreed on the implementation and review ofthe Cebu Action Plan and the reforms of the APEC Finance Ministers’ Process andagreed that financial cooperation among APEC members should pay more focus onpractical and efficient activities besides meetings and seminars.
They also taskedthe APEC senior finance officials to meet tentatively in May 2017.-VNA
VNA
