ABAC submitted the 2017 Progress Report of the APFF (Asia Pacific Financial Forum) to APEC Finance Ministers.
As an annex to the ABAC Letter to Finance Ministers, the report has been sent to the Finance Minister of Vietnam (2017 Chair)
and to the APEC Secretariat, for circulation to all 21 APEC finance ministries and ABAC’s fellow observer international organizations, such as ADB, IMF, OECD and World Bank Group.
This Progress Report covers the following areas to provide information and high-level recommendations to support Cebu Action Plan in the Asia Pacific:
- Expanding MSMEs’ Access to Finance
- Creating Deep, Liquid and Integrated Capital Markets
- Expanding the Region’s Long-Term Investor Base
- Fostering Financially Resilient Communities
- Dialogue and Research on the Future of Financial Regulation
- Retirement and Long-Term Investment (page 32-40)
- Enabling Islamic financial institutions to expand cross-border investment in infrastructure (page 40-42)
- A roadmap for expanding the coverage of microinsurance in APEC (page 43-45 and Appendix)
- Disaster risk financing and insurance (page 45-48)
As for insurance, retirement and long-term investment, the progress report covers topics, including
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.