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Second Protocol to the General Agreement on Trade in Services (Interim Agreement on Financial Services)

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Chapter Summary

The Second Protocol to the General Agreement on Trade in Services, in the context of GATS and the Financial Services Agreement, was a new agreement reached in 1995 under the auspices of the World Trade Organisation (WTO). It entered into force on 1 September 1996. It is also known as the Interim Agreement" on financial services. The Third and Fourth Protocols relate to movement of natural persons and basic telecommunications. The Fifth Protocol, referred to as the Financial Services Agreement, relates to financial services. There is no First Protocol: it was to contain special concessions for developing country Members, which were eventually incorporated into the Uruguay Round schedules, so that there was no need for a separate protocol.

Keywords: financial services agreement; interim agreement; second protocol

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