Asia-Pacific

Mack participated in Finance Sector Roundtable and Dialogue with APEC Finance Officials and Ministers in Cebu, September 10-11, 2015

The Finance Sector Roundtable and Dialogue with APEC Finance Officials and Ministers in parallel to the APEC Finance Ministers’ Meeting (FMM) was held in Cebu, Philippines, on September 10-11, 2015.

This two-day event was held to provide financial sector and other private sector stakeholders the opportunity to exchange views and have dialogue with APEC Finance Ministers and policymakers on the priorities of the APEC Finance Ministers’ Process (FMP).

President Benigno S. Aquino III addressed APEC Finance Ministers, after Hon. Cesar V. Purisma opened the Roundtable with an overview of Cebu Action Plan.

This year, the participants focused their discussions on the Cebu Action Plan, 10-year roadmap containing the following four pillar initiatives proposed by the Philippines as host of the APEC FMP: (1) financial integration, (2) fiscal reforms and transparency, (3) financial resilience, and (4) infrastructure development and financing.

APEC 2015 Philippines official website

cebu1

Mack served as a speaker in the Session 2: Introduction to the Cebu Action Plan.
The panel was chaired by Mr Hiroyuki Suzuki, Chair, APEC Business Advisory Council (ABAAC) Finance and Economics Working Group; Chair, Asia-Pacific Financial Forum (APFF) and Director and Board Member, Nomura Holdings, Inc.
After the chairman’s introductory statement, the following speakers made their speeches:

  • Mr Roberto Tan, National Treasurer and Undersecretary, Department of Finance, Republic of Philippines
  • Mr Mark Johnson, Semior Advisor, Gresham Pattners Limited
  • Mr Masayuki Tagai, Managing Director and Industry Issues Executuve, Asia, JP Morgan Chase
  • Mr Keith Noyes, Regional Director, Asia-Pacific, International Swaps and Derivatives Association, Inc. (ISDA)
  • Makoto Okubo, General Manager, International Affairs, Nippon Life Insurance Company
  • Mr Jaime Garchitorena, CEO, Credit Information Corporation

cebu2

Mack made a presentation regarding an overview of the APFF Work Related to Insurance and Retirement Income, introducing a roadmap for sustainable development, stressing the linkage between promoting retirement savings and longevity solutions and capital market development/infrastructure funding, and summarizing retulatory, accounting, market and operational issues on promoting long-term investments in the Asia-Pacific.

Material
roadmapAn overview of the APFF Work Related to Insurance and Retirement Income

Mack also served as one of the facilitators in the working lunch between Finance Ministers and Finance Sector Stakeholders on the following day. The assigned topic was long-term investments in infrastructure.