The 13th APEC Finance Ministers’ Meeting (FMM 13), to be held from September 4-8, is one of the important events scheduled to take place before the meeting of APEC economic members in Hanoi in November.
 |
FMM 13 comprises of private meetings among ministers, dialogues between ministers and representatives of the private sector, a meeting between ministers and representatives of international financial organisations, a plenary session, and a press briefing of ministers.
APEC financial ministers also discuss recommendations on policy reforms in the region and cooperative mechanisms among APEC economic members.
The first policy theme entitled Promoting Public Finance Efficiency and Sustainability: Towards Stable and Efficient Revenue Sources will focus on analysing structures and budget sources in the context of global integration and trade liberalisation. It will also consider recommendations on reform and the possibility of cooperation to ensure stable and efficient revenue sources.
Under the second theme entitled Financial Sector Reform to Attract Capital Flows, delegates will look into impact of financial reforms (including financial institution reform, policy transparency and management) upon capital flows.
“These are two top priorities of the financial sector of all APEC member economies, including
|
The process for APEC financial cooperation was set up in 1993 to consult macro economic development and capital circulation. The process receives close cooperation from financial and monetary organisations, including the International Monetary Fund (IMF), World Bank (WB), and Asia Development Bank (ADB) |
The working agenda of the FMM13 and related conferences was built in conformity with the current norms and standards of the APEC Financial Cooperation Process and based on recommendations made by financial experts at conferences of the 21st and 22nd APEC Technical Working Group (TWG) to the FMM 13.
To prepare for the FMM 13, the Ministry of Finance has implemented a master plan identifying objectives and principles of the APEC Financial Cooperation Process. They include actively integrating into the world, effectively expanding external finance on the basis of maintaining financial and economic security, and fully tapping the result of the process.
The scheme also looks at objectives to strengthen the role of
Mr Ha also answered reporters’ questions concerning the renewal of policies to attract capital flows in the financial sector.
“Financial development is an important issue which captures great attention from APEC member economies as this sector is very dynamic, but poses numerous risks. Therefore, the Vietnamese Government will consider issuing appropriate legal documents,” said Mr Ha.
(Source: VOV)
