RESTRICTED
WORLD TRADE S/FIN/M/2
8May1995
ORGANIZATION
(95-1192)
Committee onTrade inFinancial Services
REPORT OFTHE MEETING HELD ON28APRIL 1995
Note bytheSecretariat
1. Thesecond meeting oftheCommittee onTrade inFinancial Services waschaired byMr.David
Hartridge oftheSecretariat, asMr.Frank Swedlove ofCanada wasunable toattend themeeting.
Thediscussion followed theagenda contained inAirgram WTO/AIR/66.
2. TheChairmaninformedtheCommitteeofarequestfromtheOECDSecretariatforobservership
inawiderange ofWTO bodies, including theCommittee onTrade inFinancial Services. Itwasagreed
thatadecision would betaken induecourse, following abroader consideration ofthequestion of
observer status forintergovernmental organizations inWTO bodies.
3. TheChairman thenturned totheprincipal agenda itemforthemeeting, which wastoexamine
andapprove thereport oftheCommittee onTrade inFinancial Services totheCouncil forTrade in
Services regarding thestatus ofnegotiations onfinancial services. Aninformal noteprepared bythe
Secretariat wasintroduced, indicating suggested amendments based oncomments made bydelegations
toanearlier draftdistributed prior tothemeeting. TheChairman reminded delegates thatthereport
wasintended essentially asafactual statement ofprogress made sofarinthenegotiations. Following
further discussions andsomemodifications tothedraft, theCommittee approved itsreport totheCouncil
forTrade inServices.
4. Norway confirmed itsintention tosubmit revised schedules around theagreed dateof8May.
TheUnited States noted that,given thestrong attention thatthenegotiations onfinancial services was
receiving from thepress, itwasnecessary toreadpress reports withcare; anarticle hadappeared
giving awrong listofcountries withwhich theUSwasnegotiating.
5. TheChairman reminded delegates thatthenegotiating timetable inAnnex 2ofthereport called
forsubmission ofdraftrevised schedules andMFN exemption listsfromparticipants by8May. The
nextmeeting oftheCommittee would takeplace on18Mayintheafternoon.