May 14, 1993
TO: INTERNATIONAL COMMITTEE NO. 11-93
RE: INSTITUTE LETTER TO CHAIRMAN MARKEY REGARDING FOREIGN
MARKET ACCESS ISSUES
__________________________________________________________
On May 3, 1993, the Institute sent the attached letter to
Edward J. Markey, Chairman of the House Subcommittee on
Telecommunications and Finance, regarding the Institute's goals
in the Japanese market and in certain ongoing foreign trade
negotiations. The letter expresses the Institute's support for
the North American Free Trade Agreement (NAFTA), which will
permit U.S. money managers for the first time to sponsor, advise
and distribute Mexican mutual funds, through wholly-owned Mexican
mutual fund operating companies. The letter also sets forth the
U.S. investment management industry's desire to obtain better
access to the Japanese pension fund and investment trust
management markets. Finally, the letter supports steps in the
GATT Uruguay round negotiations that would prevent countries with
closed financial services markets from taking advantage of the
open U.S. markets.
We will keep you informed of developments.
Angela C. Goelzer
Associate Counsel - International
Attachment