Formed in November 1998, the MAS International Advisory Panel (IAP) comprises some of the world's leading financial and industry experts. The panel advises MAS on Singapore's financial sector reforms and strategies. It also gives MAS a global perspective on financial sector issues, and helps us keep abreast of market developments and policy initiatives in major international financial centres.
The IAP is chaired by Lim Hng Kiang, Minister for Trade & Industry and Deputy Chairman of MAS. The panel held its sixth meeting at the Istana in Singapore on 17 September 2006. It discussed the economic outlook for Asia, as well as the challenges and opportunities for financial institutions operating in the region.
IAP members were optimistic about Asia’s prospects for continued growth. They urged the ASEAN countries to accelerate regional trade and financial integration.
The IAP expressed confidence that Singapore was well-positioned to tap regional and global opportunities for growth, given its strong reputation for integrity and reliability, its connectivity with Asia and the rest of the world, and its cost-effectiveness for high value-added activities.
Following the meeting, IAP members called on Prime Minister Lee Hsien Loong and Minister Mentor Lee Kuan Yew. They were also hosted to lunch by Senior Minister and MAS Chairman Goh Chok Tong.