Ease of movement of people, capital, services and data across borders
The Government will continue to promote and support regulatory cooperation frameworks for trade in financial services, including through free trade agreements and multilateral fora.
Government continue to address international regulatory barriers to trade in financial services via multilateral and bilateral mechanisms including trade agreements and capacity building.
Progress to date
The Australia-Singapore Digital Economy Agreement sets new global benchmarks for trade rules and a range of cooperation initiatives. Key outcomes included commitments on data flows, data localisation, electronic authentication, electronic signature and treatment of source code. It also established a framework for collaboration between FinTech and RegTech (regulatory technology) enterprises and industry bodies to explore business opportunities and develop standards.