 To expedite the process of financial services liberalisation, ASEAN has agreed on a positive list modality and adopted milestones to facilitate negotiations.Currency cooperation would involve the exploration of possible currency arrangements, including an ASEAN currency payment system for trade in local goods to reduce the demand for US dollars and to help promote stability of regional currencies, such as by settling intra-ASEAN trade using regional currencies.In regards to a common currency, ASEAN leaders agreed in November 1999 to create the establishment of currency swaps and repurchase agreements as a credit line against future financial shocks.