Allowing Greater Capital Mobility.
The liberalisation of capital movements is to be guided by the following principles:
a) Ensuring an orderly capital account liberalisation consistent with member countries’ national agenda and readiness of the economy;
b) Allowing adequate safeguard against potential macroeconomic instability and systemic risk that may arise from the liberalisation process, including the right to adopt necessary measures to ensure macroeconomic stability; and
c) Ensuring the benefits of liberalisation to be shared by all ASEAN countries.
Actions:
i. Remove or relax restrictions, where appropriate and possible, to facilitate the flows of payments and transfers for current account transactions;
ii. Remove or relax restrictions on capital flows, where appropriate and possible, to support foreign direct investment and initiatives to promote capital market development