Minister of Finance Vuong Dinh Hue affirmed this in an interview granted to reporters after the closing of the APEC Finance Ministerial Meeting on the sidelines of the 19^th APEC summit in Hawaii, USA on November 13.

Minister Hue recalled the ministers’ agreement that the Asia-Pacific region is facing big challenges both within and from the outside, such as the Europe public debt crisis, the danger of increasing inflation rates in regional countries, unbalanced growth and volatility of capital flows.

In their views, regional countries should strengthen cooperation, especially in finance, to deal with risks and challenges.

The ministers voiced support for measures proposed by G20 financial leaders at a recent meeting in Paris, France and agreed to accelerate the recovery of the global economy and sustainable growth of the financial sector, creating a firm foundation for strong, sustainable and balanced growth.

They also agreed on the initiatives taken within the framework of APEC financial cooperation, including a proposal to mobilise private capital for infrastructure projects and create conditions for small and medium-sized enterprises, to access financial resources.

Regarding the role of Vietnam in APEC financial cooperation, Minister Hue said since 2006 the country has proposed strengthening financial coordination among regional countries and put forward many other initiatives for APEC.

At this year's meeting, Vietnamese officials delivered speeches, pointing out issues related to growth and comprehensive approaches to credit and finance for poor and developing countries. They maintained that member countries must strictly fulfill their commitments to improve the standards and regulations for banking and finance institutions.