ANNEX P:
A FRAMEWORK FOR TRANSPARENCY IN SERVICES
SUMMARY
CSI very s trongly believes that the pr oposed trade agreement must contain cr os s cutting
dis ciplines to promote gr eater regulator y transpar ency f or s ervices. Regulatory practice in
the services sector has developed unevenly and often at odds with the market access and
national treatment commitments. As a result, the experience of industry in both emerging
and developed markets has been increasingly one of frustration with regulatory processes.
A transpar ent and fair regulatory s ystem is a pr econdition f or the liberalization of s er vices .
A ll curr ent trade negotiations pr ovide an opportunity to build on the trans par ency
dis ciplines obtained during the U ruguay Round negotiations . A review of pr ior
achievements suggests that the best negotiating approach w ill be to for tify the G ATS r ules
r egar ding trans par ency for all sectors and, as needed, to supplement thes e gener al rules
w ith additional and/or special rules to gover n par ticular sectors .
CSI has pr oposed a f r amew ork f or achieving tr ans par ency. The propos ed tr ade agr eement
s hould contain s tr onger disciplines to pr omote greater trans par ency acr os s the boar d f or all
s er vices . In particular s er vice sectors , s ector al agreements or s cheduling can be us ed to lay
out additional trans par ency requirements for that s ector , including br oader regulator y
r ef or m as neces s ar y and appr opr iate. Some sectors may need little s upplementation, w hile
other sectors may need many special rules tailor ed to that s ector . This suggested approach
w ould allow negotiators to r es pond f lexibly to the particular needs of each sector while at
the s ame time building on the trans par ency dis ciplines that apply acros s all s ector s.
G ener al tr ans par ency commitments should be sought in thr ee ar eas: (A ) S tandard s etting;
( B) the Regulatory A pplication Pr ocess ; and ( C) Judicial, Ar bitral, or Adminis tr ative
Tribunals.
The attached paper by CSI addr ess es in detail the dis ciplines providing transpar ency in the
above three areas. I t is couched in the terms of G ATS but is applicable in the propos ed
bilateral agr eement. A paper by the S ecurities Indus tr y A ss ociation ( S IA ) is als o pr ovided.
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