The United States and Australia have pledged to enhance financial connectivity in the Pacific region

On July 8th, Jin10 Data reported that Australia and the United States hosted a two-day Pacific banking forum in Brisbane on Monday, where Financial Institutions and officials in the region discussed strengthening banking services. US and Australian officials said on Monday that they are committed to improving financial connectivity in the Pacific region. Pacific Island countries are facing challenges as Western banks have ended long-term relationships with their counterparts in these countries, and some banks are seeking to close their operations, thereby restricting people’s use of US dollar-denominated bank accounts. Australian Assistant Treasury Minister Stephen Jones said that Australia hopes to become the preferred partner in the Pacific region, whether in the banking industry or in the defense sector.