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Wednesday, July 10, 2019

Taking place in the Arica and Parinacota region on July 25 and 26

Treasury and International Economic Relations Undersecretaries announce the official go-ahead for the APEC meeting in Arica

Santiago, July 10, 2019. Treasury Undersecretary Francisco Moreno, together with International Economic Relations Undersecretary Rodrigo Yáñez, announced today in a videoconference with the Regional Governor of Arica and Parinacota, María Loreto Letelier, the details of APEC’s 1st Senior Finance Officials' Meeting (SFOM), which will be held in the Arica and Parinacota region.

The meeting will take place in the region on July 25 and 26 and will focus on four key areas, which will be discussed by representatives of the 21 APEC member economies. These are: 1) to promote integration in financial markets through the digital economy, 2) financial inclusion: closing the gap through digitalization, 3) financial management of disaster risks: mitigation and resilience, and 4) implementation of the Cebu Action Plan (CAP).

"This is great news for the region of Arica and Parinacota; and for the owners of micro-, small- and medium-sized businesses in the region who want to participate in the digital economy; for women and senior citizens who are waiting for greater financial inclusion, and for everyone who is working towards integrating Arica and Parinacota with the rest of the world. It is a very important gathering that will allow the region to move towards trading with a market that represents 40% of the global population," said the Treasury Undersecretary.

The International Economic Relations Undersecretary, Rodrigo Yáñez, stressed that "around 57% of Chile's economy depends on foreign trade, so we are talking about a central issue for the development of our country and the region, which undoubtedly has a natural inclination towards the Pacific. This is why we must take advantage of the opportunities represented by participating in APEC, of which we have formed part of for the last 25 years."

The Regional Governor of Arica and Parinacota, María Loreto Letelier, took the opportunity to emphasize the importance of the meeting for the region.

"We are honored that our region is part of this global event. It is a pleasure for us and it provides the region of Arica and Parinacota with an opportunity to showcase ourselves and our characteristics to the world," said the Regional Governor.

Chile has been a member of APEC since 1994 and is chair of APEC during 2019, hosting and organizing different activities, such as ministerial and senior officials’ meetings, working groups, workshops and the Economic Leaders’ Meeting. The Treasury Ministry leads the organizational process for Finance Ministers and plays an active role in the Economic Committee.

The Treasury Undersecretary stressed that this is the second time that Chile has hosted APEC. The first occasion was in 2004, when meetings were also held in the region of Arica and Parinacota, when they were focused on healthcare issues. The forthcoming meetings, however, will deal with financial issues and are the prelude to the meeting of Finance Ministers that will take place in Santiago in October, he explained.

APEC is an economical and technical cooperation forum that operates on the basis of non-binding commitments and open dialogue, the purpose of which are to promote cooperation, growth, facilitation and liberalization of trade and investment in the Asia-Pacific region. The undersecretaries stressed that currently APEC has 21 members, referred to as economies, which together represent 40% of the world’s population, 60% of global GDP and 50% of total trade.

Videoconference Link

Revisa más fotos de este evento aquí.