This week I will be representing the Treasurer at the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting in Bangkok, Thailand.
These meetings are an opportunity, ahead of next month’s APEC Leaders’ Meeting in Thailand, for APEC economies to discuss fiscal and monetary interventions and key risks. This is especially timely given the highly uncertain global outlook and the fact that many APEC economies are currently dealing with similar challenges to Australia, including high inflation, skills shortages, energy transitions, and increased public sector borrowing costs.
At the APEC Finance Ministers’ Meeting, we will affirm the importance of sustainable finance in curbing carbon emissions, and digitalisation in making growth more inclusive. We will also collaborate on areas which require collective action including climate change, sustainable development, and digital connectivity.
In addition to the Finance Ministers’ Meetings, I will also meet bilaterally with senior economic policymakers from other nations to discuss looming challenges in the global economy. A key emphasis for me will be discussing initiatives to promote economic dynamism in the Asia-Pacific region, including greater engagement on competition policy.