| Download | |
| Additional Annexes |
2011-AFAS-FS-5-Annex-HC-SC.pdf |
| Summary Information | |
|---|---|
| Full Title |
2011 Protocol to Implement the Fifth Package of Commitments on Financial Services under the ASEAN Framework Agreement on Services |
| Short Title / Abbreviations |
AFAS 5th Package on Financial Services/AFAS FS 5 |
| CIL Subject Classification | |
| Date of Adoption | 04/05/2011 |
| Place of Adoption | Hanoi, Viet Nam, sidelines of the 14th ASEAN+3 Finance Ministers’ Meeting (AFMM+3) |
| 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: “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 |
This protocol states that its annexes include each Member State’s Consolidated Schedule of Specific Commitments on Financial Services and the Lists of Most-Favoured-Nation Exemptions. Annex documents provided on the ASEAN website are as follows: Consolidated Schedule of Specific Commitments on Financial Services:
Lists of Most-Favoured-Nations Exemptions
Schedule of Specific Commitments (Supplementary) – Viet Nam Safeguard Framework for Financial Services Liberalisation under ASEAN Framework Agreement on Services |
| Entry Into Force Status | In Force |
| Source |
ASEAN Legal Instruments |
| Date of Entry into Force |
04/08/2011 |
| Entry into Force / Termination Provisions |
Paragraph 5: “This Protocol and the commitments set out in the Annexes shall enter into force 90 (ninety) days after the date of its signing.” Paragraph 8: “Where a Member State is unable to complete its internal procedures for the entry into force of this Protocol within ninety (90) days from the date of its signing, the rights and obligations of that Member State under this Protocol shall commence on the first day following the date on which notification was made under paragraph 7.” |
| Status | |
| ASEAN States | (Source: as of 12/12/2022) |
| Brunei Darussalam |
Signature 04/05/2011 Signature 09/08/2011 |
| Cambodia |
Signature 04/05/2011 Signature 10/08/2011 |
| Indonesia |
Signature 04/05/2011 Ratification 22/08/2013 |
| Lao PDR |
Signature 04/05/2011 Acceptance 04/10/2011 |
| Malaysia |
Signature 04/05/2011 Signature 29/06/2012 |
| Myanmar |
Signature 04/05/2011 Ratification 21/11/2011 |
| Philippines |
Signature 04/05/2011 Ratification 18/01/2012 |
| Singapore |
Signature 04/05/2011 Signature 13/09/2011 |
| Thailand |
Signature 04/05/2011 Signature 05/07/2011 |
| Vietnam |
Signature 04/05/2011 Approval 21/09/2011 |
| Related Instruments | |
| Protocols / Amendments to this instrument | |
| 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 |
WTO General Agreement on Trade in Services |
| External Links |
ASEAN Secretariat accessed on 12/12/2022 ASEAN, Annex: Schedule of Specific Commitments accessed on 12/12/2022 |
| Additional Information |
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 execution of the instruments of ratification/accession, rather than their date of receipt by the depository. Links to other Annexes outside of the List of Specific Commitments are hyperlinked above in the Annex field. |
