APEC meetings in Tagaytay to promote discussions on financial policies, programs

The Department of Finance will host a series of Asia-Pacific Economic Cooperation (APEC) meetings in Tagaytay this week to promote the discussion of financial policies and programs among member economies. 

 

"Under the APEC 2015 theme 'Building Inclusive Economies, Building a Better World,' these meetings are aimed at promoting discussion on various financial policies and programs affecting the 21 APEC member economies as well as the regional network," the Department of Foreign Affairs (DFA) said Sunday.

 

"Specifically, delegates will tackle issues on financial inclusion, financial transparency, and financial resiliency, among others," it said.

 

The meetings that will be held are: the Asia Pacific Forum on Financial Inclusion on March 3 to 4, the APEC Public Private Partnership Experts Advisory Panel Meeting on March 4, the Asia Pacific Infrastructure Partnership Meeting on March 4, and the APEC Finance and Central Bank Deputies' Meeting on March 5 to 6.

 

"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 and harmonious financial network within the Asia-Pacific region," DFA noted.

 

The meetings aim to promote a more open and accessible financial environment in the region.

 

The output of the discussions will contribute to the creation of a Roadmap that will be proposed by the Philippines in line with the country's hosting of the APEC Finance Ministers Process 2015.

 

The Roadmap, which will be called the Cebu Action Plan, will be launched at the APEC Finance Ministers Meeting that will held on Sept. 10 to 11 in Mactan.

 

"Consistent with the agenda of the Tagaytay meetings, the Cebu Action Plan envisions an APEC community that is more financially integrated, transparent, and resilient," DFA said.

 

"Concretely, the plan proposes the harmonization of APEC economies’ policies, rules, and practices in order to facilitate free trade and the free flow of cross-border investments; good governance that results in sustainable and inclusive economic growth; and rapidly growing and robust financial markets that offer diversified financial instruments," it said.

 

Last month, the First APEC Senior Officials' Meeting was held in Clark, Pampanga. 

 

President Benigno Aquino III led the the kick-off ceremony for the APEC 2015 Summit on December 1, 2014.

 

Various APEC meetings will be held across the country in preparation for the World Leaders’ Summit on November 17 and 18, 2015.

 

These areas include Pampanga, Manila, Bataan, Albay, Tagaytay City, Iloilo, Boracay Island, Bacolod City and Cebu. — Kathryn Mae P. Tubadeza/JDS, GMA News