Press conference on outcomes of APEC Finance Ministers’ Meeting (Photo:TTXVN)

Concerning the main content of the Joint ministerial statement, Vietnamese Finance Minister Dinh Tien Dung said APEC Finance Ministers discussed the economic and financial outlook that the economies face and shared views on appropriate policy actions. The near-term outlook for global economic growth is encouraging, with a more broad-based pick up across both emerging markets and advanced economies. In the medium term, the risk of global financial conditions tightening remains and slower productivity gains continue to inhibit sustainable growth. The Ministers agreed to focus on priorities and economic and financial cooperation to promote growth towards the goal of fostering a shared future. They are well aware of the importance for four cooperation priorities of this year which include long-term investment in infrastructure, disaster risk financing and insurance, tax avoidance through base erosion and profit shifting (BEPS), and inclusive finance. Minister Dinh Tien dung said: “APEC Finance Ministers discussed important issues which will be reported to APEC leaders at the APEC Summit in November. They emphasized long-term investment in infrastructure and inclusive finance. The outcomes of inclusive finance cooperation will be summarized in the report on promoting economic, financial, and social inclusion.”

The Filipino Finance Secretary reported on the outcomes of the Cebu Action Plan. Under the joint statement, the 25^th APEC Finance Ministers’ Meeting will be held in Papua New Guinea next October.