RESTRICTED
WORLD TRADE S/L/47
12December 1997
ORGANIZATION(97-5481)
Original: Spanish Trade inServices
COMMUNICATION FROM CHILE
Specific Commitments inFinancial Services
Thefollowing communication hasbeenreceived fromthedelegation ofChile withtherequest
thatitbecirculated toMembers oftheCouncil forTrade inServices.
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Asyouknow, theGovernment ofChile iscommitted tothesuccess oftheongoing financial
services negotiations which willendtoday. Thisisborne outbytheactive rolewhich Chile hasplayed
since theUruguay Round, andthereafter inthenegotiations concerning thissector. Accordingly, in
1995Chile introduced improvements inthefinancial services section ofitsschedule, thusmaintaining
substantive commitments withfullrespect forthemost-favoured nation clause andtheprinciple of
non-discrimination.
Inaddition, on24November lastanotecontaining Chile'sconditional offeronfinancial services
wastransmitted totheWTO Secretariat, asacontribution tothecurrent negotiating process. Itisthe
Government ofChile'sintention thatifallthenecessary conditions specified therein arefulfilled and
provided thenegotiations areconcluded on12December asscheduled, thisconditional offerwillreplace
thepresent section onfinancial services appearing inChile'sSchedule ofCommitments (GATS/SC/18;
GATS/SC/18/Suppl.1).
Inaccordance withtheDecisions oftheCouncil forTrade inServices (S/L/9) of21July1995
and(S/L/39) of29May1997, Chile withdraws theentire section onfinancial services contained in
itsSchedule ofCommitments onservices (GATS/SC/18; GATS/SC/18/Suppl.1). Thewithdrawal of
theentire section andthecommitments setouttherein willtakeeffect on29January 1999, thetime-limit
foracceptance oftheFifth Protocol totheGeneral Agreement onTrade inServices.
IfthecurrentnegotiationsonfinancialservicesdonotendtodayinaccordancewiththeDecisions
oftheCouncil forTrade inServices S/L/9 of21July1995andS/L/39 of29May1997, thewithdrawal
oftheentire section onfinancial services from Chile'sSchedule ofCommitments onServices
(GATS/SC/18; GATS/SC/18/Suppl.1) willtakeeffect asfrom thisdate.