JAKARTA, 23 October 2020 – ASEAN Economic Ministers signed the ASEAN Trade in Services Agreement (ATISA) on 7 October 2020. The agreement affirms ASEAN’s commitment to free and open trade and regional economic integration, against the present multifaceted challenges of trade tensions, global pandemic and economic uncertainties.
ATISA deepens the integration of the services sectors, and creates a more liberal, stable and predictable environment for service suppliers in the region. It builds upon all of the achievements made by ASEAN Member States (AMS) to-date, under the ASEAN Framework Agreement on Services (AFAS), as well as other related initiatives related to trade in services.
The agreement mandates AMS to transition their existing Schedules of Commitments under the AFAS based on a positive list approach, into Schedules of Non-Conforming Measures based on a negative list approach within specific timelines.
The negative listing approach under the ATISA provides greater transparency on the details of current services regime in AMS, thus providing service-suppliers a higher level of confidence on the region’s economy.
ATISA will supersede AFAS, including all of its Implementing Protocols as signed by ASEAN Economic Ministers, ASEAN Transport Ministers and ASEAN Finance Ministers.
There are three sectoral annexes under the ATISA, namely; Annex on Financial Services, Annex on Telecommunication Services; and Annex on Air Transport Ancillary Services. These annexes include sector-specific obligations intended for deeper commitments and strengthened regulatory cooperation.
The full text of the ATISA can be downloaded here.
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The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration) by the Founding Fathers of ASEAN: Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam joined ASEAN on 7 January 1984, followed by Viet Nam on 28 July 1995, Lao PDR and Myanmar on 23 July 1997, and Cambodia on 30 April 1999, making up what is today the ten Member States of ASEAN.Menu - WHAT WE DO
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