ASEAN Framework Agreement on Services
ASEAN Framework Agreement on Services: adopted by ASEAN governments on 15 December 1995. The Agreement seeks (a) to enhance cooperation in services among member states to improve the efficiency and competitiveness of ASEAN services providers and to diversify production capacity and supply and distribution of services within and outside ASEAN, and (b) to eliminate substantially restrictions on trade in services among member states and to liberalize trade in services by expanding the depth and scope of liberalization beyond the commitments made under the GATS with the aim of realizing a free-trade area in services. Article II seeks cooperation through establishing or improving infrastructural facilities, joint production, marketing and purchasing arrangements, research and development, and exchange of information. Article III requires member states to liberalize trade in services in a substantial number of sectors within a reasonable timeframe through the removal of discriminatory measures and market access limitations and a prohibition of new restrictive measures. Under Article IV, member states are to enter into negotiations on measures affecting specific services sectors. Article V permits the mutual recognition of qualifications, education, experience and licences, but it does not require any member state to do so. The Agreement stipulates that the provisions of the GATS will apply on matters where it is silent. See also AFTA and ASEAN Investment Area.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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