Finance Ministers Meeting This Week
Finance Ministers from APEC Member Economies are meeting this week to address current issues on the regional economic agenda and to discuss long-term regional policy direction.
Hosted by Viet Nam, the 13th APEC Finance Ministers' Meeting will take place in Ha Noi on September 7-8.
The meeting is an annual opportunity for Finance Ministers and Treasurers from several of the world's leading and smaller economies to address issues of concern to financial stability in the region.
The APEC Finance Ministers' Meeting is one of the most important meetings of senior ministers on the global political calendar.
Mr. Vu Van Ninh, Finance Minister of Viet Nam, said in addition to dealing with a number of current issues, two key policy themes have been highlighted for the attention of ministers.
The first theme, 'Promoting Public Finance Efficiency and Sustainability' will address new internal and external factors affecting government revenue sources
"Globalization has induced changes that over time have transformed government revenue structures, tax bases and types of taxes in APEC Member Economies," Minister Vu said.
"Ministers will have an opportunity to share experiences in managing this change while sustaining economic and fiscal stability."
The other theme, 'Financial Sector Reform to Attract Capital Flows' will provide ministers with an opportunity to discuss a recurring theme in the APEC Finance Ministers Process.
"Policies and reforms to facilitate capital flows in APEC economies have been addressed and updated at successive APEC Finance Ministers' Meetings," Minister Vu said.
"Ministers will now take a fresh look at capital flows in the context of the current global economy, particularly during the current period of change.
"The growth of institutional investors such as pension funds, mutual funds and hedge funds has had a substantial impact on capital markets and influences efforts aimed at financial market liberalization. To this end, financial institutions reform, regulatory transparency and prudential regulations are some areas that are likely to feature in discussions."
The APEC Finance Ministers Meeting will be preceded with a meeting of APEC Finance and Central Bank Deputies' on September 5-6.
APEC Finance Ministers have met annually since 1994.