Pacific Countries Look To Boost Financial Products Trade

Law360, New York (September 26, 2013, 12:53 PM EDT) -- Australia, New Zealand, South Korea and Singapore have agreed to work toward a long-awaited agreement designed to remove barriers to the trade of financial instruments and enhance investment across the South Pacific, the Asia-Pacific Economic Cooperation said Tuesday.

Ministers from the four nations on Friday signed a statement of intent to establish a so-called Asia Region Funds Passport, an initiative designed to increase the signatory nations' exports of financial products and services and facilitate cross-border investment by streamlining financial regulations.

The deal, still in its formative...
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