Developing Bond Markets in APEC - Toward Greater Public-Private Sector Regional Partnership

Post-event Statement

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Background

Bond markets play an important role in mobilizing capital for investments that are critical for economic development. An efficient bond market will help promote economic growth and reduce the risk of financial crises. In order to improve bond market efficiency, DMCs will need to strengthen financial market regulation and supervision, enhance market infrastructure, strengthen corporate governance, introduce new investment products to better mobilize of savings and mitigate risks, and improve investment decision making and investor bases.

This conference will enable participants to share experiences and explore appropriate policy measures for developing efficient domestic bond markets. The conference will discuss

• regional experiences in developing bond markets
• cross-border investment in Asian bond markets
• development of asset-backed securities markets in the region
• defining a public–private partnership for bond market development

The conference will complement the initiatives of ADB in promoting bond market development in the region.

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Objectives

• To identify how policy frameworks and market practices can promote the development of domestic bond markets and the emergence of a regional bond market, building on ideas outlined in the report of the joint ABAC/PECC 2004 bond market conference.
• To assist public and private sector participants in preparing action plans to promote efficient domestic bond markets in their respective economies.
• To define a specific agenda for regional cooperation based on public-private sector partnership and promoting capacity-building to help develop domestic and regional bond markets.

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Outputs

• Target of 100 participants (about 30-40% will come from government and 60-70% from the private sector and academe).
• Conference report (with executive summary) for endorsement and submission by ABAC and PECC to the APEC Finance Ministers.
• Summary of proceedings and conference materials that will be published in a CD-ROM and on the ABAC/PECC and ADBI websites.

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Participants

Senior government officials from securities markets supervisory authorities, finance ministries and central banks, and representatives from private sector, academe and policy-oriented research institutes that play a major role in bond market development in APEC economies. Although discussions will focus on APEC member economies, participants from non-APEC member economies are welcome. Most participants will attend on a self-financed basis.

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Language

English (No interpretation will be provided)

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Responsibilities

Speakers are requested to submit their conference papers and presentations by 27 May 2005.

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Cosponsors

The conference will be co-organized by the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC), and the Pacific Economic Cooperation Council (PECC).