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MACTAN,
Cebu, September 10 (PIA)
– The private sector's participation is seen as crucial in crafting
the Cebu Action Plan (CAP) in its final form.
This after more than 100 financial industry
players gather in Cebu to join in the discussion on CAP, a development
roadmap drafted by the Philippines with inputs from the rest of the 21
member-economies of APEC.
In the event titled “Finance Sector
Roundtable and Dialogue with APEC finance officials and Ministers” and which
runs from September 10 to 11, details of the CAP will be presented to the
private-sector delegates.
The private sector are expected to share views
on the pressing issues confronting the financial industry and economies.
They will also give additional suggestions on
how the financial sector can help pursue the objectives of CAP.
Department of Finance Secretary Cesar Purisima
said the private sector participation is a crucial determinant success in any
endeavour.
“As host of the 2015 APEC meetings, we are
pleased with the overwhelming participation and interest of the financial
sector executives in the CAP discussions,” he said.
This, according to him, makes
Asia–Pacific’s financial future in great hands.
The two-day event with the financial sector
representatives runs parallel to the “APEC Finance and Central Bank Deputies’
Meeting and the APEC Finance Ministers Meeting.
The formal launch of CAP will be
held Friday to highlight the Finance Ministers' Meeting.
The four key pillars of CAP include: financial
integration, fiscal reforms and transparency, financial resilience and
infrastructure development and financing.
The roadmap will serve as a legacy of the
Philippines for the Asia Pacific as it enjoys broad support from APEC member
economies.
Earlier this month, the Senior Officials Meeting
and Related Meetings were also held in Cebu.
Over 80 APEC-related meetings were done in the
province. (rmn/fcc/PIA7-Cebu)