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Deputy Prime Minister Lawrence Wong to attend G20 meetings in Bali

Deputy Prime Minister Lawrence Wong to attend G20 meetings in Bali

Deputy Prime Minister and Finance Minister Lawrence Wong speaking at the launch of the Foward Singapore exercise on Jun 28, 2022.

SINGAPORE: Deputy Prime Minister Lawrence Wong will attend the Third Finance Ministers and Central Bank Governors G20 meetings from Jul 14 to Jul 16 in Bali.

The meetings will cover topics such as the state of the global economy, pandemic preparedness, prevention and response, as well as the development of sustainable finance and infrastructure, said the Ministry of Finance (MOF) on Wednesday (Jul 13).

Mr Wong, who is also Finance Minister, will participate in the Asia Initiative Ministerial Meeting, organised by the Global Forum on Transparency and Exchange of Information for Tax Purposes.

The forum is an international body working on implementing international standards on tax transparency.

During his visit on Jul 14, DPM Wong will also sign the Bali Declaration, said MOF.

“The Declaration reinforces our commitment to encourage the adoption and implementation of internationally agreed standards for tax transparency for a sustainable mobilisation of domestic resources. This will help combat tax evasion and support effective domestic administration of taxes,” the ministry said.

Additionally, Mr Wong will sign a new memorandum of understanding on cooperation between Singapore and the Asian Development Bank, updating the previous one signed in 2012, MOF said.  

The MOU focuses on raising private capital for infrastructure financing, as well as finding new and innovative approaches to address challenges such as climate change and energy transitions in Asia.

Mr Wong will be accompanied by officials from the MOF and the Monetary Authority of Singapore.

Mr Wong previously attended the Second Finance Ministers and Central Bank Governors Meeting held in the United States in April.

Source: CNA/ng
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