RESTRICTED
WORLD TRADE GATS/EL/70/Suppl.1
28July1995
ORGANIZATION
(95-2222)
Trade inServices
THE PHILIPPINES
ListofArticle II(MFN) Exemptions
Supplement 1
(This isauthentic inEnglish only)
____________________
Thistextreplaces theFinancial Services section contained inpage2ofdocument GATS/EL/70.THE PHILIPPINES -LIST OFARTICLE II(MFN) EXEMPTIONS
Sector orsubsector Description ofmeasure
indicating itsinconsistency
with Article IICountries towhich the
measure appliesIntended duration Conditions creating theneed
fortheexemption
Commercial banking Authorization forfinancial
service suppliers ofanother
Member toestablish commercial
presence orexpand existing
operations incommercial
banking inthePhilippines shall
besubject toareciprocity testAllcountries Indefinite Toensure Philippine financial
service suppliers areaccorded
fullmarket access andnational
treatment inthefinancial service
market ofanother Member
GATS/EL/70/Suppl.1
Page1