[11148]
July 30, 1999
TO: INTERNATIONAL COMMITTEE No. 33-99
RE: US AND TAIWANESE OFFICIALS DISCUSS MARKET ACCESS ISSUES IN
TAIWAN
______________________________________________________________________________
On July 9, 1999 the Institute sent a letter to Treasury Under Secretary Timothy F. Geithner
outlining the problems US investment managers have had in obtaining effective market access to
Taiwan’s investment management industry. A copy of the Institute’s letter is attached.
In a letter dated July 28, 1999, Under Secretary Geithner informed the Institute that the US
government raised a number of these issues with Taiwanese authorities in the fourth Subcabinet Level
Economic Dialogue held in Taipei on July 16, 1999. US negotiators raised the issue of the need for
timely regulatory approval of investment funds offered by foreign financial institutions and the
importance of moving toward a disclosure based registration system. A copy of a press statement issued
after the Subcabinet Level Economic Dialogue is attached.
Mary S. Podesta
Senior Counsel
Attachments