2002 Protocol to Implement the Second Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services

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Additional Annexes	2002-AFAS-FS-2-Annex-HC.pdf 2002-AFAS-FS-2-Annex-SC.pdf
Full Title	2002 Protocol to Implement the Second Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services
Short Title / Abbreviations	AFAS 2nd Package on Financial Services / AFAS FS 2
CIL Subject Classification	ASEAN Documents ASEAN Economic Community ASEAN Free Trade Area Finance Services
Date of Adoption	06/04/2002
Place of Adoption	Yangon, Myanmar, 6th ASEAN Finance Ministers Meeting (AFMM)
Issued/Adopted by	Finance Ministers of ASEAN
Dispute settlement provisions	Paragraph 4: “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: “1. 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. 2. 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	Annex I – Horizontal Commitments Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Philippines Singapore Thailand Viet Nam Annex II – Schedule of Specific Commitments Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Annex III – Lists of Most-Favoured Nation Exemptions (Not available)
Entry Into Force Status	Not In Force
Source	ASEAN Legal Instruments
Entry into Force / Termination Provisions	Paragraph 5: “This Protocol shall enter into force upon the deposit of instruments of ratification or acceptance by all signatory governments with the Secretary-General of ASEAN, which shall be done not later than 30 September 2002.”
Status
ASEAN States	(Source: ASEAN Legal Instruments as of 07/05/2026)
Brunei Darussalam	Signature 06/04/2002 Signature 26/08/2003
Cambodia	Signature 06/04/2002 Ratification 19/12/2002
Indonesia	Signature 06/04/2002 Ratification 29/01/2003
Lao PDR	Signature 06/04/2002
Malaysia	Signature 06/04/2002
Myanmar	Signature 06/04/2002
Philippines	Signature 06/04/2002
Singapore	Signature 06/04/2002 Ratification 25/09/2002
Thailand	Signature 06/04/2002 Ratification 08/10/2002
Vietnam	Signature 06/04/2002 Acceptance 02/09/2002
Timor Leste
Related Instruments
Protocols / Amendments to this instrument	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 2016 Protocol to Implement the Seventh Package of Commitments on Financial Services Under the ASEAN Framework Agreement on Services 2019 Protocol to Implement the Eighth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services Commitments under the 1995 ASEAN Framework Agreement on Services and its protocols will be terminated in phases by the 2020 ASEAN Trade in Services Agreement.
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
Related Instruments	2009 ASEAN Mutual Recognition Arrangement Framework on Accountancy Services 2014 ASEAN Mutual Recognition Arrangement on Accountancy Services WTO General Agreement on Trade in Services
External Links	ASEAN Secretariat accessed on 07/05/2026 ASEAN, Annex: Horizontal Commitments accessed on 07/05/2026 ASEAN, Annex: Schedule of the Specific Commitments accessed on 07/05/2026
Additional Information	The text of the List of Most-Favoured Nation Exemptions annexed to this Protocol is not available as of the date of update. The ASEAN Finance Integration page may update the link to provide this annex (under the Key Documents tab). Dates of ratification and accession given above were obtained from the ASEAN Secretariat’s Legal Instruments website and its electronic collection of instruments of ratification, accession and notification. Some of the dates given appear to be the dates of signature or transmission of the instruments of ratification/accession, rather than their date of receipt by the depository.
Last Updated on	07/05/2026