- Title: PHILIPPINES: ASIA-PACIFIC ECONOMIC COOPERATION MEETING ENDS
- Date: 6th April 1997
- Summary: CEBU CITY, PHILIPPINES (APRIL 6, 1997) (RTV - ACCESS ALL) 1. SV FINANCE MINISTERS ENTERING THE SESSION HALL 0.09 2. SV U.S. TREASURY SECRETARY ROBERT RUBIN, ENTERS MEETING 0.18 3. SLV DELEGATES ENTERING MEETING 0.31 4. SV RUBIN AND CHINESE FINANCE MINISTER LIU ZHONGLI SHAKE HANDS AT BILATERAL MEETING 0.36 5.
- Embargoed: 21st April 1997 13:00
- Keywords:
- Location: CEBU, PHILIPPINES
- City:
- Country: Philippines
- Reuters ID: LVA5AQK0WGC2FU4OZV3PO6OVOX4T
- Story Text: - INTRO: Asia-Pacific Finance ministers have wound up their weekend meeting endorsing proposals to attract private sector investment to the development of infrastructure in the region.
The Finance ministers said major currency misalignments in the exchange markets had been corrected but called for the completion of a schedule of worldwide negotiations on liberalising financial services.
The 18 Finance Ministers of the Asia-Pacific Economic Cooperation (APEC) forum ended a two-day meeting on Sunday (April 6) on the luxury resort island, with a communique saying regional economic slowdown in some member countries did not hamper the positive outlook for sustained growth in the region as a whole.
The ministers said they supported a resumption of the World Trade Organisation's (WTO) financial services talks this month, and urged all WTO members to look forward to the full implementation of commitments to improve market access.
They said a more free and stable flow of capital was important to the economic development of the region, and agreed to prepare voluntary action plans to reduce barriers to the flow of funds into the region.
APEC includes Australia, Brunei, Canada, Chile, China, Indonesia, Japan, Mexico, Malaysia, New Zealand, Papua New Guinea, Hong Kong, Singapore, Thailand, Taiwan, South Korea, the Philippines and the United States.
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