Agreement Financial Services

> Success of the WTO Negotiations on Financial Services in 1997 Ready for a Little Financial Direction? A financial services contract is a contract between you and your financial advisor. This allows you to outline the business relationship and make sure everyone is on the same side when it comes to tax issues, contact points and service charges. Make a financial services deal in no time – we`ll get you through it. In a few steps, you have a legal document that both parties can sign. Consolidated information on countries` financial services commitments and exceptions can be found in the services database. If you aspire to the obligations of a particular WTO member, go to “Jump to a particular sector for a particular member,” select financial services from the industry drop-down list, select the member who is of interest and click “Go.” To see a table showing which members have made financial services commitments, select “Look at which members have made commitments in a particular sector,” financial services and click “Walk.” In November 2001, the services negotiations were incorporated into the Doha Development Agenda, which gave greater importance to bilateral negotiations, demand and supply. A first timetable has been established, with clear dates for the submission of bilateral applications (end of June 2002) and first offers (end of March 2003). Interested members met in “friends` groups,” including “friends of financial services.” There are proposals for financial services. In addition, some service proposals covering different sectors also include a section on financial services (Kenya, Japan and Norway). Negotiations on financial services and other service sectors have developed at various stages since 2000. In accordance with the mandate of the GATS (Article XIX), negotiations on services were initiated in 2000. At the time, the negotiations were conducted on an almost purely multilateral basis and several negotiating proposals were presented. These proposals focused on the objectives and concerns of several members of the negotiations.

WTO Secretariat Study on Financial Services (1997): opening up financial services markets and the role of GATS. – “commercial presence” obligations by a foreign company (mode 3) for all financial services – mode 1 bonds (services from one country to another) and mode 2 (consumers or companies that use a service in another country) in appropriate sub-sectors (e.g. B financial services to demanding clients, such as reinsurance, asset management and securities; Marine and energy insurance services; The provision and transmission of financial and financial data processing information) has been initiated by some WTO members in accordance with the Agreement on Commitments in the Financial Services Sector. The agreement is an optional and alternative approach to specific commitments in the financial services sector.