Japan was to submit to a World Trade Organization committee in Geneva on July 11 its package of initial offers to liberalize financial services, including steps for greater deregulation in the areas of insurance and foreign exchange control.
The offers stipulate that foreign insurers would be able to supply insurance for Japanese ships and aircraft used for international shipping and commercial flights without being established in Japan, and also set up insurance brokering services. In addition, Japanese branches of foreign life insurance firms would no longer be required to keep their assets in yen.
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