Finance ministers and heads of delegations from APEC member economies, led by Philippines’ Finance Secretary Cesar Purisima, gather at Shangri-La Hotel in Mactan, Cebu on September 10-11.
In the meeting, the delegates will conduct final deliberations on the Cebu Action Plan (CAP) and then formally launch it as a non-binding development roadmap that may guide APEC member economies in their policy making over the medium to long term.
CAP was drafted by the Philippines, with inputs from other APEC member-economies, development partners, and private sector representatives. Its four key pillars are: (1) financial integration, (2) fiscal reforms and transparency, (3) financial resilience, and (4) infrastructure development and financing.
In his speech before the delegates, President Aquino highlighted how the Cebu Action Plan (CAP) can better help APEC member economies address challenges to a sustainable and more inclusive growth in the region.