A photo of the meeting. (Source: VNA)Ninh Binh (VNA) - The APEC Senior FinanceOfficials’ Meeting (SFOM) officially opened in the northern province of NinhBinh on May 18.
This is an important mid-term meeting that reviews theprogress of cooperation activities and proposes deliverables to the FinanceMinisters Meeting in October, Vu Nhu Thang, Director of the InternationalCooperation Department under the Ministry of Finance, who is also SFOM Chair2017, said in his opening remarks.
On the first dayof the meeting, officials are reviewing the global and regional economic andfinancial outlooks, discussing upside and downside risks that the Asia-Pacificregion is facing, and forecasting regional prospects in coming time. They are alsoreviewing the implementation progress of the Cebu Action Plan.
During the two-day meeting, APEC senior financialofficials are scheduled to continue discussing and assessing the progress ofrealising cooperation priorities initiated by Vietnam and approved at the APECFinance and Central Bank Deputies Meeting in Khanh Hoa province’s Nha Trangcity in February.
The four prioritised subjects include long-terminvestment in infrastructure, base erosion and profit shifting, disaster riskfinancing and insurance, and cooperation in the comprehensive financial field.
2017 is the first year the regionaleconomies implement the APEC Strategy for Modernisation of Finance Ministers Processadopted at the Finance Ministers’ Meeting in Peru last year. The realisation offour financial cooperation priorities during the year not only attaches to the nationalpriorities but also contributes to effectively implementing the strategy,towards practical benefits for the whole region.-VNA
