• Homepage
  • Database
  • 2016 Protocol to Implement the Seventh Package of Commitments on Financial Services Under the ASEAN Framework Agreement on Services
Download
Additional Annexes

2016-7th-AFAS-Financial-Package-Annexes.pdf

Summary Information
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
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:

  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

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