The meeting agreed to resume discussion to develop mutual recognition framework to facilitate cross-border mutual fund offerings. The discussion was initiated in 2004 before later being halted.  To be eligible for cross-border offerings, the mutual funds must meet acceptable standards. Such mutual recognition would help to increase competitive edge of the asset management business in the international market and offer more investment choices for investors in both jurisdictions.
 
In addition, the Memorandum of Understanding concerning mutual cooperation signed between the regulators in 1993 will be reviewed to be more consistent with the current market landscape. This will benefit further development of international cooperation to be more comprehensive and efficient.