Regarding the financial inclusion, the meeting has focus on discussion and sharing experience on financial inclusion in supporting sustainable agri and rural development, on which propose policy recommendations, comprehensive financial inclusion measures, including policy on credit support, financial services, application of new financial technologies, risk insurance, financial literacy.
The meeting has welcomed the SOM Chair, Deputy Foreign Minister Bui Thanh Son to present the overview and priorities of Viet Nam in the APEC Year 2017. Besides, the meeting has noted the APEC Economic Committee Chair’s reports on the EC’s activities and opportunities for collaboration with Finance Ministers’ Process; Australia’s report on update of the Asian Regional Fund Passport (ARFP) initiative; the ABAC’s report on ABAC activities.
Photo: Khac Kien
After 2 working days (February 23rd-24th, 2017), the 2017 APEC Finance and Central Bank Deputies’ Meeting, co-chaired by Vice Minister of Finance, Mr. Tran Xuan Ha and Deputy Governor of the State Bank of Vietnam Mrs. Nguyen Thi Hong, has completed successfully in Nha Trang, Vietnam. The successful hosting of the Meeting marked an important milestone in the Vietnam Chairmanship of the APEC Finance Ministers’ Process and the APEC Vietnam 2017 in general.
The major outcomes of the discussions through 2 day Meeting of the Finance and Central Bank Deputies include:
Finance and Central Bank Deputies discussed recent economic and financial developments and outlook in the APEC region in order to identify appropriate policy responses for APEC economies to cope with the global economic volatilities;
Finance and Central Bank Deputies discussed cooperation priorities for the 2017 APEC FMP and their implementation plans;
Finance and Central Bank Deputies discussed and agreed upon the implantation plans on the 4 priority policy themes which include: (i) Long-term financing for infrastructure; (ii) Base erosion and profit shifting (BEPS); (iii) Disaster risk financing and insurance; and (iv) Financial inclusion;
Finance and Central Bank Deputies discussed and agreed on the implementation and review of the Cebu Action Plan and the reforms of the APEC Finance Ministers’ Process;
Finance and Central Bank Deputies agreed that financial cooperation among APEC members should pay more focus on practical and efficient activities besides meetings and seminars; and
Finance and Central Bank Deputies tasked the APEC senior finance officials to meet, tentatively in May, 2017;
Delegates from 21 member economies and international organizations participated in the Meeting. In attendance at the Meeting are representatives from various professional organizations, business sectors and domestic and international press covering the event. High ranking officials from People’s Committees of Khanh Hoa Province and the City of Nha Trang also joined the Meeting and provided strong and generous supports, without which the Meeting wouldn’t have been so successful./.