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The 22nd meeting of APEC Finance Ministers was held in Cebu, Philippines on September, 10-11 2015. The meeting concluded with a joint statement adoption which includes Cebu Action Plan (CAP) - a roadmap for a more sustainable financial future for the Asia-Pacific region.
In their statement the ministers committed to collaborate with the Global Infrastructure Hub to establish a PPP knowledge portal with the following possible preliminary contents: (i) PPP infrastructure projects undertaken by APEC economies; (ii) directory of private firms, consultants, and experts involved in PPP infrastructure projects; and (iii) financial and legal, public and private risk mitigation instruments available to infrastructure investors in the region.
The ministers encouraged APEC economies to exchange experiences in facilitating long-term investment in infrastructure, through public-private initiatives.
The CAP, which will be submitted to the APEC Leaders, has four pillars: (i) promoting financial integration; (ii) advancing fiscal reforms and transparency; (iii) enhancing financial resilience; and (iv) accelerating infrastructure development and financing.
The CAP continues the progress towards the Bogor Goals of free and open trade and investment. In particular, economies committed to work towards more liberalized financial services and capital accounts across Asia-Pacific.
Each APEC presidency will be responsible for the short-term initiatives and deliverables (one year) of the plan. APEC economies will have the medium-term (two-four years) and long-term (five-10 year) objectives of the roadmap to guide their collective efforts.
The 23rd Finance Ministers' Meeting will be held in Lima, Peru in October 2016.
Joint Ministerial Statement
Press-release at the official APEC web-site