Scene at the meeting (Photo: VNA) Khanh Hoa (VNA) – The APEC Finance and Central BankDeputies Meeting (FCBDM) finished the first working day in Nha Trang city, inthe central province of Khanh Hoa on February 23.
Opening the APEC Finance Ministers’ Process (FMP) this year, thetwo-day event is co-chaired by Vietnam’s Deputy Minister of Finance Tran XuanHa and Deputy Governor of the State Bank Nguyen Thi Hong.
The agenda on the first working day consisted of global andregional economic-financial outlook; the implementation of the Cebu Action Plan;long-term infrastructure investment; base erosion and profit shifting; and disaster-riskfinancing and insurance.
Concerning the economic-financial outlook, participants agreedthat the global and regional economic growth is positive but still faced withdifficulties and challenges, such as sluggish external demand, environmental issues,and inequality.
They took note of diverse policy responses bymember economies, saying there was high demand for cooperation and coordinationon macro-policy responses in the region to promote growth and macro-economicrebalancing in member economies, in a bid to boost trade, regional connectivity,and the participation in global value chain.
Discussing the Cebu Action Plan (CAP) andproposed reform plan for the APEC FMP, the deputies heard a report on the CAPimplementation and endorsed a list of initiatives/deliverables implemented bymember economies and technical support from international organisations.
The meeting encouraged APEC members to continueregistering their initiatives/deliverables with the APEC Secretariat forfurther implementation and requested international organisation to reserveadditional resources for technical assistance to support APEC member economiesin their activities for the successful realisation of the CAP.
On the subject of long-term infrastructure investment,participating delegates shared their respective experiences on challenges topublic-private-partnership (PPP) projects.
They focused on risk allocation issues between Stateand private investors, tools to mitigate and share risks, as well as the roleof private investors in PPP projects.
The deputies also discussed ways to promotecooperation on the issue among APEC members and to implement related activitiesin 2017.
Regarding base erosion and profit shifting(BEPS), participants discussed and shared experience on implementing BEPSpackages, including BEPS minimum standards.
Member economies including Australia, Japan andIndonesia presented their respective cases on implementing BEPS packages andprojects.
The meeting ended its first day with a sessionon disaster risk financing and insurance, where participants discussed nationalstrategies on the matter as well as methodologies on building disaster riskdatabases.
Member economies such as Japan, Australia sharedexperiences on the formulation of their respective national strategies on thesubject as well as the management of pubic assets against the consequences ofnatural calamities.
The second working day will focus on financialinclusion and other business issues.-VNA
VNA
