Finance and central bank deputies to fine-tune Cebu Action Plan
Cebu will host the Third APEC Senior Officials’ Meeting and Related Meetings (SOM3) from Aug. 22 to Sept. 6, the Department of Foreign Affairs (DFA) said in a statement.
This will be an intensive 16-day meeting since it will be the last SOM before the Asia-Pacific Economic Cooperation (APEC) Leaders’ Summit in November.
In a statement posted on the APEC Philippines 2015 website, www.apec2015.ph, the DFA said APEC committees and working groups will continue discussions and initiatives from the second SOM held in Boracay in May.
Among the issues on the table are APEC’s connectivity; services; micro, small and medium enterprises (MSME) agenda; Internet economy; urbanization; and work towards the realization of a Free Trade Area of the Asia-Pacific (FTAAP).
Finance and central bank deputies are also expected to fine-tune the proposed Cebu Action Plan, a road map pushed by the Philippines to make APEC more financially integrated, transparent and resilient.
The Cebu Action Plan will be launched during the APEC Finance Ministers’ Meeting on September 10-11 in Cebu.
The plan proposes the harmonization of APEC economies’ policies, rules, and practices in order to facilitate free trade and the free flow of cross-border investments; good governance that will result to sustainable and inclusive economic growth; and rapidly growing and robust financial markets that offer diversified financial instruments.
During the SOM3 meetings, a series of exhibits, workshops and special events will also be held. Among the special events are the Fifth High-Level Meeting on Health and the Economy, and the Symposium on Urbanization.
Another minister-level meeting that will be held in Cebu is the Structural Reform Ministerial Meeting (SRMM), which has been set for September 7-8 with the National Economic and Development Authority (NEDA) as lead agency.
APEC 2015 carries the theme “Building Inclusive Economies, Building a Better World.”
Marciano Paynor, Jr., director general of the APEC 2015 National Organizing Council, earlier said around 3,000 delegates are expected to attend the meetings in Cebu.
Among the venues are Radisson Blu Hotel, Marco Polo Plaza Hotel, and Shangri-La’s Mactan Island Resort and Spa.
Paynor had said Cebu organizers should ensure smooth traffic flow during the meetings to allow delegates to travel fast between the venues.
APEC groups Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia Singapore, Chinese Taipei, Thailand, the United States, and Vietnam.
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