Financial market integration was one of the main issues discussed at the Baltic Development Forum Summit in Tallinn 4-6 November 2008. The conclusion of the subject was:

"A better integrated financial services market in the Baltic Sea Region can help reap the benefits of globalisation by injecting efficient lubricant in the business system, thus fostering economic growth and prosperity for its citizens. Deregulation has lead to increased regulation in the implementation phase, which in turn severely hampers such a development. Governments, regulators and market actors in the Baltic Sea Region are therefore urged to develop a system for the financial services sector that can open up for a better integrated and stronger financial service market in the Region. Baltic Development Forum will seek support from these partners to develop an analysis similar to “Sustaining New York’s and the US’ Global Financial Services Leadership” providing better insight into possible financial niche markets for the Baltic Sea Region."

In addition, the report "Financial Integration in the Baltic Sea Region - Benefits and Barriers", serving as a factual foundation of the discussion, was distributed and discussed at the Tallinn Summit. Download the report below.