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Friday, July 26, 2019

Treasury Undersecretary leads the closing session of APEC Senior Finance Officials’ Meeting in Arica

Arica, July 26, 2019. Treasury Undersecretary Francisco Moreno led the closing session of the two-day APEC Senior Finance Officials' Meeting (SFOM) in Arica.

“We’ve had two intense days of work in the city of Arica, and we are delighted with what we have achieved,” the Undersecretary stated.

Undersecretary Moreno outlined the four key themes that were addressed during the meeting, which are being developed with the various economies.

  • Promoting integration in financial markets through the digital economy;
  • Improving financial inclusion through 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.

“We have been able to make progress in many areas, so we will be able to go to the Finance Ministers’ Meeting in October this year armed with all the fruitful preparatory work that the economies’ technical representatives have been working on,” the official added.

Undersecretary Moreno announced that the Finance Ministers’ meeting that will be held in Santiago in October will include a seminar on financial management and natural disasters organized by Chile as the APEC host country.

“There is an urgent need to continue to improve the financial management of natural disasters, especially since many economies in the region are constantly faced by such situations. This is a key challenge for all governments around the world and is particularly important for the Asia-Pacific Region. As such, we must continue to build upon the progress made in this area,” he added.

Undersecretary Moreno highlighted the government’s firm commitment to decentralization and the importance of holding the meeting in Arica and Parinacota. “We know that a great deal of our development is taking place in our regions. More than 14,800 small- and medium-sized companies in the Arica and Parinacota Region between them generate 74.2% of all the jobs and we hope that they will continue to grow and open up to the world. This will allow them to take advantage of the opportunities for integration and foreign trade that fora like this one generate”, he added.

Statement from the Regional Governor: “We are grateful that our region hosted the event because it has allowed us to showcase ourselves to the world. We know that the representatives of the 21 economies will talk about their experiences in Arica, its highlights, cuisine and ancient land, as well as how successful these days of work have been.” 

The closing session of APEC SFOM in Arica was also attended by Arica and Parinacota Governor María Loreto Letelier and Senator José Durana.

Source: Subsecretaría de Hacienda

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