On September 11, FSA announced that Japan has decided to participate in the Asia Region Funds Passport (ARFP). FSA has participated in the discussion of the Working Group in order to ensure that the ARFP will be effective in increasing cross-border investments among member economies and contributing to the development of financial markets in the region.
Economies in the Asia region recognize the value of creating better connections between their financial markets. Working together toreduce the barriers to cross-border financial transactions, created by differences between economies’ laws and regulations, economies in the region can further the development of deeper and more efficient financial markets which, in turn, can contribute to sustainable and sound economic growth. The Asia Region Funds Passport Working Group, which consists of Australia, Japan, Korea, New Zealand, the Philippines, Singapore and Thailand, continues its efforts to progress the Passport alongside other interested regional economies.