ABAC submitted the 2016 Progress Report of the APFF (Asia Pacific Financial Forum) to APEC Finance Ministers.
This Progress Report covers the following areas to provide information and high-level recommendations to support Cebu Action Plan in the Asia Pacific:
- Advancing the Financial Infrastructure Development Network (FIDN)
- Strengthening Financial Resilience
- Expanding the Region’s Long-Term Investor Base
- Deepening the Region’s Capital Markets
- Modernizing the Asia-Pacific Financial Market Infrastructure
- Harnessing Fintech to Accelerate the Development of Financial Markets
- Fostering Continued Dialogue and Research on the Future of Financial Regulation
As for insurance and pensions, the progress report covers topics, including
- Disaster Risk Financing and Insurance (page 20-23)
- Microinsurance (page 23-25)
- Retirement Income and Long-Term Investment (page 26-39)
The Asia-Pacific Financial Forum (APFF), a platform for public-private collaboration to develop robust and integrated financial markets in the region, was proposed by the APEC Business Advisory Council (ABAC) and adopted by the APEC Finance Ministers at their 2013 annual meeting in Bali. The APFF identified undertakings to advance development in key areas of financial markets that are critical to the region’s economic aspirations. These areas are: (a) lending infrastructure; (b) trade and supply chain finance; (c) insurance and retirement income; (d) financial market infrastructure and cross-border practices; (e) capital markets; and (f) linkages and cross-border issues.