In 1997, Mr Cayetano and legislative leaders convened an Economic Revitalisation TaskForce made up of government officials, business leaders and organised labour.
Earlier this year, two Paris-based organisations, the Organisation for Economic Co-operation and Development and the Financial Action TaskForce, took aim at the Caribbean.
IETF's founders, to launch last year an Internet societal taskforce as a forum for deliberating social and economic issues thrown up by the spread of the Internet.