They have unleashed a cross-border flow of money and ideas that has speeded up the pace of progress back home.

However, the treaty had little effect as the Kenyan army was not able to stem the cross-border flow of materiel from Somalia to the guerrillas.

Banks like Citigroup and Bank of America have been looking for ways to tap into this cross-border flow.

"The strategy is not to go head-to-head on the domestic business, but to be second to none on the cross-border flows."

Free, cross-border flows at the touch of a computer key: this suggests unreliable 'hot' money rather than the loyal cold sort.

The US did not view cross-border flow of funds necessary or desirable for promoting trade or economic development.

The third development was the emergence of deregulated global financial markets after the Cold War that made cross-border flow of funds routine.

Ms. Rice said the sides agreed generally to permit the cross-border flow of goods and people to "allow for economic revival to begin immediately."

They involve the handling of cross-border flows of goods between different states, not only within the European Union but also across the entire world.

The accord was set up in order to facilitate the cross-border flow of travellers and goods, while co-ordinating enforcement efforts in the two countries.