(VOVworld) - The Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting opened in Cebu Island in the Philippines on Thursday.

The Philippines’ Cebu Resorts. (Photo: suitcasestories.com)

Addressing the opening ceremony, the Philippines’ National Treasurer Roberto Tan said it is imperative for APEC member economies to enhance financial integration to boost intra-regional trade and investment.

He also called for fiscal reforms to make policy more effective and underlined the importance of public-private partnerships in meeting the region’s infrastructure needs.

The meeting took place amid growing concerns over the growth slowdown in China, the world’s second biggest economy, and recent fluctuations in the global financial markets following Beijing’s devaluation of its yuan.