In this period, the Committee addressed the following matters: the acceptance of the Fifth Protocol to the General Agreement on Trade in Services; technical issues; recent developments in financial services trade; presentations by the International Monetary Fund and the World Bank; and the transitional review under section 18 of the Protocol on the Accession of the People's Republic of China.
Discussions under this agenda item focussed on the sectoral classification of financial services, on the basis of an informal note submitted by Thailand (Job(02)/47, dated 30 May 2002) on classification issues raised in the negotiating proposals submitted by Canada and Switzerland to the Special Session of the Council for Trade in Services (documents S/CSS/W/50 and W/71,
The presentation described the regulatory process by which the United States Executive Branch developed regulations for the implementation of the Gramm-Leach-Bliley Act, including the request for public comment from interested parties.
the Committee carried out the first transitional review of the implementation by China of its WTO commitments, pursuant to section 18 of the Protocol on the Accession of the People's Republic of China.
At its meetings in June and July 2002, the Committee discussed preparations in connection with that review.