APEC Financial Meeting Opens in Hanoi

The 13th APEC Finance and Central Bank Deputies Meeting began today in Hanoi as a preparation step for the upcoming APEC Finance Ministers’ Meeting (FMM 13), scheduled for September 7-8.

 

Attendants in the meeting including Deputy Finance Ministers and Central Bank Deputy Governors of the APEC economies, chairman of the APEC Senior Official Meeting (SOM), representatives from international financial institutions (IMF, WB and ADB), from the private sector (ABAC) and from the APEC Secretariat.

 

Speaking at the opening ceremony, Vietnamese Deputy Finance Minister Tran Xuan Ha said that the meeting would review the progress of the whole process in 2006.

 

The two-day meeting will exchange ideas and discuss the two main themes: “Promoting Public Finance Efficiency and Sustainability: Towards Stable and Efficient Revenue Sources” and “Financial Sector Reform to Attract Capital Flows”.

 

The APEC finance and central bank deputies will also review the process of finance cooperation so far and consider some additional important initiatives, as well as propose the strategic initiatives for further improving the effectiveness of the process and contributing to the APEC Summit’s process.

 

The delegates will review the nine initiatives on finance cooperation taken and implemented by the APEC member economies, the working agenda of such initiatives, and endorse the draft Joint Statement of the Ministers and the Annex at Deputies level of the FMM 13.

 

With such a heavy agenda, the meeting would play a very important role in the APEC finance cooperation 2006, Ha said.