The Australian financial services industry would be wise to look to expand in Japan, Richard Gilbert, head of Australia’s Investment and Financial Services Association, told Kyodo News.

Gilbert noted that Japanese investors’ appetite for foreign investments is growing and that Japanese regulators plan to liberalize the investment management industry.

Specifically, he said that Japanese investments in publicly traded Australian securities has increase 10 times over the past six years to 3.2 trillion yen due to the market’s strong performance. Likewise, Japanese investors have flocked to Australian government bonds because of their “attractive interest rates.” While this has been “highly successful,” Gilbert said, “We think we can do more.”

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