The Third RFM Meeting took place in Lima, Peru, on May 27-28, 2010. The debate on current issues focused on the global financial architecture, as the global economy started to recover from the previous year’s crisis. In terms of structural issues, the Ministers discussed the actions needed to promote the integration of physical infrastructure and the reduction of intra-regional trade costs, as agreed during the Second Meeting, in order to strengthen the region’s competitiveness in the aftermath of the financial crisis.