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asia passport

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Description: The Asia Region Funds Passport is an economic initiative to provide regional management of funds throughout member states in Asia. It is led by Australia, Singapore, New Zealand and the Republic of Korea, all of whom signed a Statement of Intent on 20 September 2013 at the APEC Finance Ministers’ meeting in Nusa Dua, Bali.
The ministers from these economies signed with a view that their economies can potentially become members of the passport once it is launched in 2016, and that they agree with the principles set out in the framework document. This document forms the basis of the future passport arrangements.
The possibility exists for the passport to grow beyond Asia to Europe, if a mutual recognition agreement is signed.

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