Report: Full liberalisation key to Asean Economic Community success

PETALING JAYA: Full and complete capital account and financial services liberalisation is key to the success of the creation of the Asean Economic Community (AEC) by 2015, according to a summary report.

“Though a gradual and judicious approach is the only pragmatic and feasible option at present, this must be considered as a step toward the eventual elimination of all restrictions on cross-border capital flows and financial services,” the summary report, launched on Wednesday at the 9th Asean Central Bank Governors' Meeting in Brunei, highlighted.