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Friday, July 19, 2019

Arica to host the next APEC Finance Meeting

The four-day meeting is part of the schedule that Chile has set as the host of the most important economic forum of the Asia-Pacific region.

July 18, 2019. Arica, the capital of Chile’s Arica and Parinacota Region, will host the First Senior Finance Officials' Meeting (SFOM) of APEC Chile 2019 as well as a seminar on FinTech and RegTech, and an APEC Citizen event.

 

The point of departure will be the workshop “Challenges in the New Digital Era”, which will be held on July 23 in Hotel Arica. It is part of the APEC Citizen events, which seek to bring the forum closer to the public by inviting international experts to Chile to participate in official meetings during the year Chile is hosting APEC.

 

The prelude to SFOM scheduled for July 24 will be the “Policy Discussion Seminar on FinTech and RegTech in APEC Economies”. This event will provide an opportunity to discuss the benefits, opportunities and risks of FinTech and RegTech in the APEC region, and participants will also identify best practices and experiences that facilitate the regulatory compatibility of the digital economy in the financial sector of the Asia-Pacific region.

 

During the discussion, representatives of the APEC member economies will review the main changes and challenges in the competitive landscape that the digital economy can generate, such as FinTech systemic risk regulations, the emergence of payment methods, the challenges of artificial intelligence (AI) and technological innovations that will support SMEs.

 

The First Senior Finance Officials' Meeting (SFOM) will be held on Thursday, July 25 and Friday, July 26. Its purpose is to move APEC economies towards financial market integration.

 

The SFOM will focus on four themes: promoting integration in financial markets through the digital economy, improving financial inclusion using digitalization, addressing the financial management of disasters, and implementing the Cebu Action Plan (CAP), which promotes economic and financial integration through intraregional trade and investment with sustainable and inclusive growth.

 

This meeting will be chaired by Treasury Ministry Finance Undersecretary Francisco Moreno and will be attended by representatives of the International Monetary Fund, the Asian Development Bank, The Inter-American Development Bank, The World Bank, the Organization for Economic Cooperation and Development (OECD) and the APEC Business Advisory Council (ABAC).

 

Furthermore, as part of Chile’s strategy of showcasing its geographic, cultural and social diversity and wealth to the APEC economies and thus promoting trade and tourism, a visit to the Azapa Valley will be conducted. The area is known for its production of fruit for export including olives, mangoes and bananas. Participants will also visit the San Miguel de Azapa Archaeological Museum, which is run by Universidad de Tarapacá and houses the Chinchorros mummies, which are approximately 7,600 years old and thus considered to be the oldest in the world.

 

The APEC Senior Finance Officials' Meeting will provide an opportunity to delve into the priorities for the year and report on the status of deliverables heading into the ministerial meeting in October.

 

NOTE: Members of the media who wish to cover these activities must request accreditation by sending an email to media@apecchile2019.cl.

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