AFDC Participated in 4th APEC Senior Finance Officials’ Meeting
The 4th APEC Senior Finance Officials’ Meeting was held in Cusco, Peru on July 10th and 11th, 2008. The AFDC representative Dr. Johnson Cao attended this meeting and briefed the meeting on the work progress of AFDC.
The first session focused on the hot issues of the current global economic issues. The experts and representatives from the World Bank, the International Monetary Fund, the Asian Development Bank, the Peru’s and Australia’s governments discussed several global economic issues such as the global inflationary pressure, food security, possible effects of global economic slowdown, the credit market turbulence. It was followed by the discussion on topics and agenda of APEC Ministers’ Meeting to be held. The meeting reached consensus on adopting the mechanisms to improve the quality of public expenditure, in particular, the results-based budgeting as well as strategies to implement capital market reform as the topics for the upcoming APEC Ministers’ Meeting.
Implementing regional economic integration agreed actions as the Medium-Term agenda was also discussed. The global economic issues, capital market reform and improving quality of public expenditure will be the official topics for the Finance Ministers’ Meeting.
The Chinese delegation was actively involved in the discussion of every session and made their points on the arrangements for Finance Ministers’ Meeting and joint ministerial statement as well as the priority of the topics to be discussed in the Ministers’ Meeting. The AFDC representative reported the work progress of AFDC, stating that AFDC has successfully held two seminars and five international workshops with 401 participants from APEC economies present at these events from October 2007 to July 2008. During the later half of 2008, AFDC will host a high-level forum and four international workshops and expand training scale by using distance learning technology. The AFDC representative also expressed the appreciation for the support given by APEC economies and the hope for continuous support.