Themes set for 2006 APEC Finance Ministers’ Meeting

Quang Ninh, Viet Nam, December 13, 2005, The issues of public finance sustainability and capital flows will top the agenda when APEC Finance Ministers hold their annual meeting in 2006.

The themes for the APEC Finance Ministers’ process were agreed at the meeting of the APEC Finance Ministers’ Technical Working Group in Quang Ninh, Viet Nam last week. The working group will carry out a work program in 2006 to support the themes for discussion by APEC Finance Ministers when they meet in Ha Noi, Viet Nam on 7-8 September 2006.

Chair of the Technical Working Group, Mr Nguyen Ba Toan, said that one of the key issues for ministers will be ensuring the efficiency and financial sustainability of government activities as APEC Member Economies intensify liberalization and international economic integration efforts.

“Fiscal sustainability and efficient revenue sources are of key importance particularly for developing economies as our region becomes increasingly integrated,” Mr Nguyen said after the conclusion of the meeting.

“This means that APEC Member Economies must ensure that internal structures relating to taxation are robust and stable.”

Mr Nguyen said another key issue for ministers will be to address issues relating to promoting capital inflows in the APEC region.

“Finance Ministers will address specific factors to further develop financial markets and make them more conducive to capital flows in the region,” Mr Nguyen said.

“Ministers will discuss policy cooperation measures aimed at enhancing reform in member economies to attract foreign investment.”

APEC Finance Ministers have met each year since 1994 to develop policy initiatives and discuss macroeconomic and financial issues confronting the region.

The participants involved in the APEC Finance Ministers process include ministers, finance and central bank deputies and senior officials as well as high-level representatives from the APEC Business Advisory Council and International Financial Institutions.

Mr Nguyen Ba Toan is also the Deputy Director-General of the International Cooperation Department, Ministry of Finance of Viet Nam.

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Christopher Hawkins

Asia-Pacific Economic Cooperation

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