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Friday, October 11, 2019

Undersecretary Moreno presides over the close of the APEC 2019 Finance Deputies’ Meeting

Santiago, October 13, 2019. Treasury Undersecretary Francisco Moreno presided over the close of the APEC Chile 2019 Finance and Central Bank Deputies’ Meeting today. The event, which lasted all day Sunday, featured a discussion of the economic and financial perspectives of the Asia-Pacific region, digital economy, financial inclusion, financing of natural disaster risks and tax cooperation issues.

There was also a discussion of the Cebu Action Plan and its initiatives, deliverables and implementation.

“If all of these issues are addressed adequately, they will help us to achieve greater prosperity for the people of the region and to promote balanced, inclusive, sustainable, innovative and safe growth,” the Undersecretary explained during his final remarks.

The official thanked all of the delegations for their cooperation and commitment during the discussion in search of a consensus regarding the Joint Ministerial Statement, which will be presented during the Finance Ministers’ Meeting this Tuesday.

“On behalf of the Chilean government and the Treasury Ministry, I would like to express my gratitude for your valuable contributions and opinions and for sharing the experiences of your economies in regard to the issues addressed in the Workshop on Credit Reporting Systems, during the Seminar on Environmental, Social and Governance Factors in Financial Markets and during this Finance and Central Bank Deputies’ Meeting,” Undersecretary Moreno concluded.

APEC 2019 Schedule

Chile is hosting APEC during 2019. The meetings began in December 2018 and will end on November 16 and 17, when the 21 leaders of the economies that comprise APEC meet in Santiago.

The finance-related activities began on Wednesday, October 9 and will continue through October 14 and 15, when the ministers from this sector will meet. The Undersecretary highlighted the busy schedule related to the event and the Chilean government’s optimism regarding the APEC agenda, which is one of the most ambitious of recent years and will contribute to allowing the Asia-Pacific region to achieve sustainable and inclusive growth.

Yesterday the “Seminar on Environmental, Social and Governance Factors in Financial Markets” was held. The activity was organized by the Treasury Ministry with the Financial Market Commission.

Tomorrow’s activities will begin with the seminar “Enhancing Financial Risk Management Against Disasters,” which Chile is organizing with the support of its co-host, the World Bank. The Finance Ministers’ Group activities officially begin on Monday at noon with a luncheon and closed meeting that will be limited to the ministers of the 21 economies. The events for that day will culminate in an official dinner for APEC Finance Ministers and participating delegates.

The APEC Finance Ministers’ Meeting will continue on Tuesday, October 15 at the Sheraton Hotel, chaired by Minister Larraín in his capacity as Treasury Minister of Chile and host. The day’s activities will end with a joint press conference.

About APEC

APEC is a technical and economic cooperation forum that operates on the basis of non-binding commitments and open dialogue. Its purpose is to promote cooperation, growth, facilitation and liberalization of trade and investments in the Asia-Pacific region.

APEC has 21 members, known as economies, which together represent 40% of the world's population, 60% of global GDP and 50% of total trade.

APEC cuenta con 21 miembros, denominados economías, que en su conjunto representan un 40% de la población mundial, el 60% del PIB global y el 50% del intercambio comercial total.