World Trade
Organization S/FIN/14
20 September 2005 (05-4145)



ANNUAL REPORT OF THE COMMITTEE ON TRADE IN FINANCIAL SERVICES TO THE COUNCIL FOR TRADE IN SERVICES (2005)


Since its last annual report to the Council for Trade in Services (S/FIN/12), the Committee on Trade in Financial Services has held three formal meetings, on 23 November 2004, and 10 February and 23 June 2005. 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; and a joint statement by a group of Members on financial services liberalization. Additionally, the Committee carried out the third 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.
acceptance of the fifth protocol to the gats
Three Members have not yet accepted

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.
At the Committee's invitation, those Members reported periodically on the situation of their domestic ratification processes and acceptance procedures.
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.
At its meeting in October 2002, the Committee decided to invite the World Bank to make a presentation on its policy report entitled "Finance for Growth: Policy Choices in a Volatile World".
At its meeting on 21 October 2002, 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.

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.

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.
At the Committee's invitation, those Members reported periodically on the situation of their domestic ratification processes and acceptance procedures.
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.
At its meeting in October 2002, the Committee decided to invite the World Bank to make a presentation on its policy report entitled "Finance for Growth: Policy Choices in a Volatile World".
At its meeting on 21 October 2002, 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.

World Trade
Organization S/FIN/15
23 September 2005
(05-4221) Committee on Trade in Financial Services


TRANSITIONAL REVIEW UNDER SECTION 18 OF THE PROTOCOL ON THE ACCESSION OF THE PEOPLE'S REPUBLIC OF CHINA

Report to the Council for Trade in Services


At its meeting on 19 September 2005, the Committee on Trade in Financial Services carried out the fourth transitional review of the implementation by China of its WTO commitments and of the related provisions of the Protocol on the Accession of the People's Republic of China (WT/L/432), pursuant to section 18 of the said Protocol.
Written communications from the European Communities (S/FIN/W/44); the United States (S/FIN/W/45); Japan (S/FIN/W/46); and Chinese Taipei (S/FIN/W/48) were included in the agenda for the meeting. Australia and Canada also submitted written communications (S/FIN/W/49 and S/FIN/W/50, respectively).
A detailed account of the discussions during the meeting can be found in the