ASIA PACIFIC - The first meeting of the Asian-Pacific regional International Network of Pension Regulators and Supervisors (INPRS) took place in Beijing, China last month.
The meeting ran in conjunction with a workshop on occupational pensions in China in Beijing, jointly organised by the Chinese government and the Organisation for Economic Co-operation and Development (OECD).
Twelve Asian-Pacific countries and economies, most of whom were private pensions regulators or supervisors, (Australia; Bhutan; Brunei Darussalam; China; Hong Kong; India; Indonesia; Japan; Korea; Malaysia; Philippines and Sri Lanka) participated in the INPRS meeting, with the US attending as observers. Representatives from the Asian Development Bank and the World Bank also participated in the meeting.
The INPRS was established on the occasion of the OECD Forum on Private Pensions, organised in Prague in April 2000. Currently, the INPRS comprises more than 120 regulatory and supervisory authorities from over 60 countries around the world.
During the meeting of the Asian-Pacific regional INPRS, strong support was shown for the establishment of a regional INPRS in Asia-Pacific. Policy dialogue and exchange of information were seen to be key benefits which the Asian-Pacific regional INPRS could provide. Further developments regarding the organisational structure of the regional INPRS, as well as the hosting of the next meeting of the Asian-Pacific regional INPRS in Asia in 2002 are expected.
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