Finance Ministers' Process

The APEC Finance Ministers' Process (FMP) has served as a forum for APEC member economies to address regional macroeconomic and financial issues as well as domestic and regional financial policy priorities.

APEC Leaders established the FMP during their first meeting in 1993 to consult on broad economic issues and jointly address economic challenges facing the region.

Finance Ministers have met annually since 1994. Prior to each Finance Ministers’ Meeting (FMM), Finance and Central Bank Deputies and Senior Finance Officials gather to consult on the priorities for the year and finalize the deliverables for Ministers to endorse.

The strategic goals of the FMP are to promote sound and credible policies for:

  • Sustainable and inclusive growth and development in the APEC region;
  • Macroeconomic stability in the APEC region;
  • Prudent public finance management;
  • Good corporate governance;
  • Stable and efficient financial markets;
  • Greater economic cooperation, integration, and openness among APEC economies; and
  • Facilitation of economic and technical cooperation within the region in pursuit of the above goals.

The FMP works closely with the APEC Business Advisory Council (ABAC) and the following key external partners:

  • Asian Development Bank (ADB)
  • Inter-American Development Bank (IADB)
  • International Monetary Fund (IMF)
  • Organization for Economic Co-operation and Development (OECD)
  • World Bank Group (WBG)

Last Update: June 2021

Current Activities

The priorities for FMP under New Zealand’s host year in 2021 are:

  • Macroeconomic outlook and COVID-19 responses

Officials will discuss the impact of the pandemic, economic outlook and future policy responses. An informal Finance Ministerial Meeting will be held with ABAC to discuss the impacts of COVID-19 on business and the policy responses needed to support business going forward.

  • Future of fiscal policy and budget frameworks

Officials will discuss fiscal policy and budget frameworks in light of COVID-19 and in the long term. Workshops will be held to examine fiscal policy and budget frameworks in more depth. 

  • FMP future success

Officials will discuss the Cebu Action Plan (CAP) refresh and implementation strategy for the second half of the 10-year CAP timeframe (2021-2025). FMP’s contribution to the Putrajaya Vision 2040 implementation plan will also be discussed.

Key Dates of APEC FMP Meetings in 2021

Dates

Event

17 - 18 March 2021

First Finance and Central Bank Deputies’ Meeting (FCBDM)

22 – 23 June 2021

First Senior Finance Officials’ Meeting (SFOM)

25 June 2021

Informal Ministerial/ABAC Business Leaders Meeting

22 October 2021

Finance Ministers’ Meeting (FMM)

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Achievements

Finance Minister Process

The APEC Finance Ministers’ Findings, Kyoto 1996 had identified Policies Contributing to Stable Capital Flows, Policies Fostering Domestic Financial and Capital Market Development, and the importance of developing policies and financing techniques which attract and channel private investment in infrastructure development.

Events

See all events
25 Jun

Informal Ministerial/ABAC Business Leaders Meeting

Virtual Meeting,
22 Oct

Finance Ministers’ Meeting (FMM)

Virtual Meeting,

Contact Us

Mr James Beard

SFOM Chair
Director, Economic System, New Zealand Treasury
[email protected]

Dr Caralee McLiesh

FCBDM Chair
Secretary and Chief Executive to the Treasury, New Zealand

Hon Grant Robertson

FMM Chair
Deputy Prime Minister and Minister of Finance, New Zealand

Ms Felicity HAMMOND

Program Director
[email protected]