APEC finance execs tackle integration, transparency in Clark meeting

Finance officials from 21 Asia-Pacific Economic Cooperation (APEC) member-states on Wednesday started a two-day meeting in Pampanga aimed at coming up with a roadmap for greater economic coordination.

 

In a statement, Department of Finance (DOF) Undersecretary Gil Beltran said the meeting at the Clark Freeport Zone will focus on financial integration, transparency and resiliency.

 

"We see that these pillars will bring about, in the coming decade, a community of APEC economies with coordinated policies, rules and practices that enable and/or facilitate free trade and free flow of cross-border investments,” Beltran said Wednesday.

 

He added that the result of the Clark meeting, dubbed the “Cebu Action Plan,” is also expected to promote good governance and “the development of rapidly growing and robust financial markets” in APEC member-states.

 

The action plan will further be tackled when APEC finance officials meet once again in Cebu City in September 2015.

 

President Benigno Aquino III earlier said that the Philippine-hosted APEC Summit this year will focus on “building inclusive economies.”

 

World leaders will fly to the Philippines later this year for the annual APEC Economic Leaders’ Meeting. – Andreo Calonzo/VS, GMA News