APEC agrees to boost economic, social, and financial inclusion

Jakarta (ANTARA News) - High-ranking officials of the Asia-Pacific Economic Cooperation (APEC) have agreed to encourage increased economic, social, and financial inclusion in the Asia-Pacific region, according to a Foreign Affairs Ministrys press release here, Thursday.

It said the agreement was reached at the 3rd APEC senior officials meeting in Ho Chi Minh City, Vietnam, on August 29-30, 2017.

The initiative to boost economic, financial, and social inclusion is expected to be adopted by APEC leaders at the APEC Economic Leaders Meeting on November 11, 2017, in Da Nang, Vietnam.

The initiative comprises three pillars: economic inclusion or equal economic opportunities for all members of society, financial inclusion that means individuals and businesses have access to useful and affordable financial products and services, and social inclusion aimed at empowering the poor and marginalized to take advantage of global opportunities and improve equity.

The initiative holds significance for Indonesia, as a developing economy, for reducing poverty and economic, financial, and social disparities, particularly in rural and remote areas.

The Government of Indonesia believes that the sharing of experiences and expertise between developed and developing economies, with regard to addressing economic inequalities at the national level, can help to achieve quality growth in the region.

Director General of Asia-Pacific and Africa of the Ministry of Foreign Affairs Desra Percaya also encouraged APEC to immediately launch the process of formulating its post-2020 vision, which is inclusive, and is able to answer the challenge of anti-globalization and overcome the development gap by realizing the APEC community, which is fair and prosperous.(*)

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