aiwan is ready to become an Asia Pacific capital-raising hub, as the nation is speeding up its financial reform for internationalization, Minister of Finance Lin Chuan (林全) said yesterday in Phuket.
Lin made the remark at a meeting for the 10th APEC finance ministers' conference.
With a high saving rate and an ample supple of market capital, several international financial institutions have raised funds in Taiwan, Lin said at the two-day APEC meeting.
On Wednesday, Lin reached an agreement with Singapore's second finance minister on cooperation between the two countries in finance service inspection.
After the three-hour talk over dinner Wednesday evening, Lin said they had also reached agreement on exchanges of visits by banking professionals and personnel of the two countries.
Lin added that the two failed to reach any agreement regarding online stock market cooperation.
The two sides also exchanged views on and experiences in capital market management, while the Taiwan side sought to learn more about Singapore's experience in signing a free trade agreement with the US, Lin said.
The APEC conference, whose theme is "a new APEC financial cooperation," centering on the issues of "grass-roots and SME [small and medium enterprises]development," "regional bond market development," and "the fiscal and financial aspects for regional trade agreements."
In addition to taking part in the ministerial meeting, Lin is also expected to hold bilateral talks with his counterparts from seven APEC members before tomorrow to seek closer ties with those countries.
He, however, declined to name which ministers he will meet.
Members of Lin's entourage include William Tseng (
The finance ministers meeting -- which ends today -- is one of a series of APEC events which will culminate in the 11th APEC Leaders Meeting in Bangkok on Oct. 20 and Oct. 21.
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