Vietnamese PM calls for finance cooperation among APEC members

Vietnamese Prime Minister Nguyen Tan Dung Thursday called for all the APEC (Asia-Pacific Economic Cooperation) members to cooperate in the development of finance sector in a bid to solve some issues in this regard.

Dung made the remarks at the opening ceremony of the two-day 13th APEC Finance Ministers' Meeting (FMM 13) which kicked off here on Thursday afternoon.

He said that he hoped APEC finance ministers will actively exchange views and put forth measures to promote public finance efficiency, and attract capital flows as well as minimize the flow- related risks.

"With its inherent volatility and the trend of market opening and financial liberalization nowadays, the capital flows will bring along risks to macro policies and institutional mechanism, especially for the developing countries,"he said.

The FMM 13 is taking place in the context of the global and regional economies' continuing active growth, but they are faced with many difficulties and challenges, including"the global imbalance, the volatility of the world oil price, the bird flu pandemic and global climate changes,"the prime minister noted.

At a retreat on Thursday morning, the ministers centered their discussions on policies of fiscal revenue sources and had dialogues with representatives from the private sectors on polices of financial sector's reform.

APEC Finance Ministers have met each year since 1994 to discuss issues of significance to the regional and global economy.

APEC has 21 member economies, including China, the United States, Japan, Vietnam, Singapore and Australia, which account for more than a third of the world's population, over 41 percent of world trade.

Source: Xinhua