Ageing Economies and Capital Mobility Issues on Finance Ministers Agenda - Meeting September 8-9
Ageing economies and capital mobility are core policy themes for the 12th APEC Finance Ministers Meeting to be held in Jeju, Korea, on September 8-9.
In keeping with the tradition of the APEC Finance Ministers' Process, the meeting has adopted key themes that reflect significant finance related challenges faced by the regional economy.
Under the theme of "Meet the Challenge of Ageing Economies" ministers are anticipated to cover issues relating to savings and investment and the effect of these savings on the function of financial markets. Ministers are also likely to examine a range of issues relating to asset management industries in the regional economy.
The other theme of the meeting, developing policy recommendations for the "Free and Stable Movement of Capital," will likely assess issues including the current economic climate and impediments hindering capital movements.
APEC Finance Ministers meet once each year to exchange views and share information on regional financial developments. At the conclusion of each meeting, Finance Ministers present a joint statement that includes a series of policy recommendations to be implemented by Member Economies.
At each of these annual meetings, that have been held each year since 1994, Finance Ministers also endorse a series of cooperative programs that promote financial sector development and liberalization. When completed outcomes from these programs are then presented to Ministers.
This year Ministers will take stock of the outcomes from recent projects that include the APEC Future Economic Leaders' Think Tank Initiative and the APEC Remittance Initiative.
Included in these, the ongoing APEC Future Economic Leaders' Think Tank Initiative has been designed to facilitate improved problem-solving skills among people who display potential for future leadership roles in the financial sector. The project nurtures skills by encouraging participants to develop creative solutions to economic and financial challenges. The 2005 workshop was held in Australia on 22-24 June.
The APEC Remittance initiative sought to identify economic and structural factors contributing to the efficiency of informal channels for remittances. The initiative made progress in identifying key areas for public and private sector cooperation to encourage the wider use of the formal financial system. This ultimately aims to increase transparency and overcome money laundering activities and terrorist financing. The initiative involved ongoing research as well as a series of consultative seminars for government and business representatives working in the financial sector.
Additional details are available at: www.apecfmm2005.org