Finance ministers of the Asia-Pacific Economic Cooperation (APEC) have approved the Cebu Action Plan.
On Friday the finance ministers of 21 member economies approved the Cebu Action Plan at the end of a two-day ministerial meeting in the Philippine city of Cebu. The plan was introduced by the Philippines in January and covers financial integration, fiscal transparency and policy reform, financial resilience, and infrastructure developing and financing.
While in Cebu, Taiwan’s Finance Minister Chang Sheng-ford also held bilateral talks with delegations from a number of other countries, including United States, Vietnam, India, and Australia.
During talks with the US delegation, the US promised to support Taiwan’s bid to join the Trans-Pacific Partnership (TPP) and to push for an agreement to avoid double taxation.
Finance minister Chang Sheng-ford is scheduled to return to Taiwan Saturday.