A meeting of finance ministers from Asia-Pacific Economic Cooperation(APEC) members began on Tuesday in South Korea.

According to the finance ministry on Tuesday, the APEC Finance Ministers’ Meeting and Structural Reform Ministerial Meeting has kicked off its three-day run at a resort in Incheon.

It marks the last ministerial meeting to take place ahead of the APEC summit, which will run next Friday and Saturday in Gyeongju. 

The attendees plan to hold wide-ranging discussions on innovation, finance, fiscal policy and structural reform ahead of the APEC summit.

The finance ministers’ meeting is expected to produce a joint declaration outlining innovative finance and fiscal cooperation measures for sustainable economic growth, as well as the “Incheon Plan,” a five-year plan for economic cooperation.

In remarks at the opening ceremony, Finance Minister Koo Yun-cheol expressed hope for substantive and productive discussions, noting that the "Incheon Plan" will follow the conclusion of the previous ten-year Cebu Action Plan.