My third and final point is that enhancing cross-border payments is a pathway to Prosperity, as it clearly raises the potential for the growth of our economies and for job creation. Easier and less costly access to international funds transfers improves the participation of consumers in the markets for goods and services and the integration of SMEs into global value chains and e-commerce platforms.
It also facilitates the management of liquidity and currency risks by large corporations, the international mobility of workers and the countercyclical role of remittances. The way for public and private sectors to jointly achieve these goals is to fully harness the opportunities offered by technology and regulation.