RESTRICTED
WORLD TRADE S/FIN/M/8
26July1995
ORGANIZATION
(95-2161)
Committee onTrade inFinancial Services
REPORT OFTHE MEETING HELD ON21JULY 1995 AFTERNOON
Note bytheSecretariat
1. TheeighthmeetingoftheCommitteeonTradeinFinancialServiceswaschairedbyAmbassador
Christer Manhusen ofSweden. Theagenda forthemeeting wasprocedural issues andother business.
2. Onprocedural issues, theChairman reminded delegates thattheSecretariat hadprepared four
draftdocumentswhichwerediscussedinthemeetingoftheCommitteeinthemorning.Thesedocuments
werethe"Second Protocol totheGATS" andthe"Decision Adopting theSecond Protocol totheGATS"
which wererequired tobeadopted bytheCommittee, andthe"Decision onCommitments inFinancial
Services" andthe"Second Decision onFinancial Services" tobeadopted bytheCouncil forTrade
inServices. Theonlychange suggested tothese drafts wastoaddthedateof1November 1997 in
paragraph 1.ofthe"Second Decision".
3. TheChairman,aftersummarizingtheproposalmadeinthemorningbytheEuropeanCommunity
toadopt theDecisions intheCommittee andintheCouncil forTrade inServices scheduled totake
place justafterthismeeting oftheCommittee, asked whether delegates agreed thattheCommittee
adopt the"Decision Adopting theSecond Protocol ontheGATS", andrecommend totheCouncil for
Trade inServices toadopt the"Decision onCommitments inFinancial Services" andthe"Second
Decision onFinancial Services". ThetextoftheSecond Protocol should alsobeadopted, butitwas
understood thatitwould bevalidonlywhen thecomplete schedules andMFN exemptions wereannexed
toitthefollowing week.
4. Japan responded bystating that,afterconsultations withitscapital, ithadnoobjection tothe
adoption oftheDecisions, withtheunderstanding thattheDecisions tobetaken werepurely procedural,
andthattheadoption ofthese Decisions didnotprejudge inanywaythefinalposition ofthiscountry.
Intheabsence ofanycomments, theCommittee adopted the"Decision Adopting theSecond Protocol
ontheGATS", anddecided torecommend totheCouncil forTrade inServices theadoption ofthe
"Decision onCommitments inFinancial Services" andthe"Second Decision onFinancial Services".
5. Itwasagreed thatthenextmeeting oftheCommittee would beheldonWednesday 26July
at10a.m. TheChairman urged alldelegations tomake theirfinalefforts inachieving asatisfactory
conclusion ofthenegotiations.