In a submission on the China-Australia Free Trade Agreement (ChAFTA) to the Senate Foreign Affairs, Trade and Defence Committee, Equity Trustees Limited has said any agreement should include measures that lead to increased participation by China and Australia in each other’s financial services sector.

Commenting on the submission, Harvey Kalman, Executive General Manager Corporate Trustee Services at Equity Trustees, said that Australia is recognised for its innovation and sophistication in the provision and administration of managed fund products.

“If we can increase recognition, not only in China but throughout Asia, for Australian Financial Services Licenses (AFSL) and Collective Investment Vehicles (CIVs) it will increase the strength of our financial services sector and its ability to compete, benefiting local investors and the economy overall.

Read the full Media Release here.