Australia will take part in an Asia-Pacific initiative next year to make it easier for financial services firms to market investment products.
The APEC Asia Region Funds Passport will initially involve Australia, Korea, New Zealand, the Philippines, Singapore and Thailand.
A week of meetings of finance officials and regulators to iron out the details wrapped up in Singapore this week.
The initiative aims to cut down on incompatible or overlapping regulation that may hinder the marketing of managed funds between participating countries.
A study suggests it could save investors $US20 ($A25.70) billion a year in fund management costs, as well as offer higher investment returns at the same or lower degree of risk.
There is also the potential to create 170,000 jobs over five years as local offices of funds managers are set up across the region.
Before the pilot project is launched the six initial countries will have to pass legislation.
APEC finance ministers will be briefed on the project when they meet in September in the Philippines.
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