2016 Protocol to Implement the Seventh Package of Commitments on Financial Services Under the ASEAN Framework Agreement on Services

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Additional Annexes	2016-7th-AFAS-Financial-Package-Annexes.pdf
Full Title	2016 Protocol to Implement the Seventh Package of Commitments on Financial Services Under the ASEAN Framework Agreement on Services
Short Title / Abbreviations	ASEAN 7th Package on FInancial Services/AFAS FS 7
CIL Subject Classification	ASEAN Documents ASEAN Economic Community ASEAN Free Trade Area Finance Services
Date of Adoption	23/06/2016
Place of Adoption	Ha Noi, Viet Nam
Issued/Adopted by	Finance Ministers of ASEAN
Dispute settlement provisions	This Protocol is one of the ‘Covered Agreements’ pursuant to Article 1.1 of the 2019 ASEAN Protocol on Enhanced Dispute Settlement Mechanism read together with its Appendix 1. The 2019 Protocol will only apply with respect to new requests for consultations made on or after its entry into force (20 June 2022). Paragraph 2: “This Protocol and its Annexes shall form an integral part of the [1995] ASEAN Framework Agreement on Services.” Article VII ‘Settlement of Disputes’ of the 1995 ASEAN Framework Agreement on Services: “The [1996] Protocol on Dispute Settlement Mechanism for ASEAN shall generally be referred to and applied with respect to any disputes arising from, or any differences between Member States concerning the interpretation or application of, this Framework Agreement or any arrangements arising therefrom. A specific dispute settlement mechanism may be established for the purposes of this Framework Agreement which shall form an integral part of this Framework Agreement.” The 1995 ASEAN Framework Agreement on Services is also one of the “Covered Agreements’ pursuant to Article 1.1 of the 2004 ASEAN Protocol on Enhanced Dispute Settlement Mechanism read together with its Appendix I. The 2004 Protocol will only apply with respect to disputes that arose after its entry into force (29 November 2004).
Depository	Secretary-General of ASEAN
Annexes	Brunei Darussalam: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Cambodia: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Indonesia: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Lao PDR: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Malaysia: Schedule of Specific Commitments for Financial Services under AFAS Myanmar: Schedule of Specific Commitments for Financial Services under AFAS Philippines: Schedule of Specific Commitments for Financial Services under AFAS Singapore: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Final list of MFN Exemptions Thailand: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS Viet Nam: Schedule of Horizontal Commitments under AFAS Schedule of Specific Commitments for Financial Services under AFAS
Entry Into Force Status	In Force
Source	ASEAN Secretariat
Date of Entry into Force	20/12/2016
Entry into Force / Termination Provisions	Paragraph 6: “This Protocol and the commitments set out in the Annexes shall enter into force one hundred and eighty (180) days after the date of its signing. Subsequent commitments made in accordance with paragraph 5 shall enter into force one hundred and eighty (180) days after the date such commitments are notified in writing to the AFMM.”
Status
ASEAN States	(Source: ASEAN Legal Instruments as of 12/12/2022)
Brunei Darussalam	Signature 23/06/2016 Ratification 01/02/2017
Cambodia	Signature 23/06/2016 Acceptance 18/12/2017
Indonesia	Signature 23/06/2016
Lao PDR	Signature 23/06/2016 Acceptance 07/12/2016
Malaysia	Signature 23/06/2016 Ratification 19/05/2017
Myanmar	Signature 23/06/2016 Ratification 03/08/2017
Philippines	Signature 23/06/2016 Ratification 08/06/2017
Singapore	Signature 23/06/2016 Ratification 28/10/2016
Thailand	Signature 23/06/2016 Ratification 17/11/2016
Vietnam	Signature 23/06/2016 Acceptance 10/03/2017
Related Instruments
Protocols / Amendments to this instrument	2019 Protocol to Implement the Eighth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Financial Services
This instrument amends/supersedes	1995 ASEAN Framework Agreement on Services The first Package of Commitments on Financial Services was made in the 1998 Protocol to Implement the Second Package of Commitments under the ASEAN Framework Agreement on Services 2002 Protocol to Implement the Second Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2005 Protocol to Implement the Third Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2008 Protocol to Implement the Fourth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2011 Protocol to Implement the Fifth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services 2015 Protocol to Implement the Sixth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services
Related Instruments	WTO General Agreement on Trade in Services
External Links	ASEAN Secretariat accessed on 12/12/2022