APEC 2017 Senior Finance Officials Meeting underway in Ninh Binh

The two-daymid-term SFOM in Ninh Binh, opened on May 18, looks to assess the progress of realizing the four priorities in financial cooperation that is planned to be submitted to the APEC Finance Ministers' meeting at the end of the year.

The four prioritized subjects include long-term investment in infrastructure, Base Erosion and Profit Shifting (BEPS), Disaster Risk Financing and Insurance (DRFI), and cooperation in the comprehensive financial field.

Together with SFOM, delegates also discussedthe international and regional economic situation, assessed advantages and disadvantages the Asia-Pacific region is facing, and forecast regional prospects in the coming time.

They will also review the progress of implementing the Cebu Action Plan's initiatives.

During the event, for the first time, there will be discussions between the senior financial officials and APEC Life Sciences Innovation Forum and the Health Working Group on the impacts of community health to budget and the economy, and with the Economic Committee on financial issues in APEC structural reform and infrastructure development programme.

These are important steps, opening up future cooperation activities between financial officials and other working groups forums within and outside APEC.

The outcomes of the meetings will be submitted to APEC financial ministers in October, 2017.

(Translated by Nguyen Thuy)