Kenneth Willman, general counsel of Goldman Sachs (Asia),
used the opening address at IFLR's Asia Capital Markets Forum
last month to call for greater liberalization of the region's
Speaking at the two-day event in Hong Kong, Willman said:
"The importance of open markets access cannot be
overemphasized," citing a World Bank report that says countries
with fully open financial services industries grow on average
one percent faster a year.
"The imperative for open market access is justified by more
than just trying to improve the competitive landscape for
international securities firms," he said.
Willman went on to detail the work of several groups headed
by the Securities Industry Association (SIA) and the
International Capital Market Association (ICMA) to push for
more open markets.
In connection with the Doha Round of World Trade
Organization trade negotiations, these groups have developed a
set of market...