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Vietnam ratifies ASEAN Trade in Services Agreement

The Vietnamese Government on October 18 issued Resolution 131/NQ-CP ratifying the ASEAN Trade in Services Agreement (ATISA).
Vietnam ratifies ASEAN Trade in Services Agreement ảnh 1ASEAN economic ministers officially signed the ATISA on April 23, 2019. (Photo: VNA)
Hanoi (VNA) – The Vietnamese Government on October 18 issuedResolution 131/NQ-CP ratifying the ASEAN Trade in Services Agreement(ATISA).

The Ministry of Planning and Investment is tasked with collaborating withother ministries and agencies to implement the deal when it comes into force.

ATISA is considered a new step in ASEAN 's integration process ofservices. Upon coming into force, the pact will replace the ASEAN Framework Agreement on Services (AFAS) thattook effect in 1995.

As a principle, ATISA establishes frameworks to implementliberalisation commitments from AFAS, reduce discriminatory barriers betweenservice providers, and lay a solid legal foundation and a more transparentmechanism for trade in services in the region.

ATISA applies a "negative list" approach, underwhich all services sectors are considered as liberalised by default. A Statewould then list only those sectors/sub-sectors in which it has taken measuresthat it considers to run counter to the obligations of the agreement (alsoknown as non-conforming measures).

ATISA also includes three sectoral annexes namely Annex onFinancial Services, Annex on Telecommunication Services, and Annex on AirTransport Ancillary Services. These annexes include sector-specific obligationsintended for deeper commitments and strengthened regulatory cooperation. Inaddition, the agreement also has Appendices I and II including the list ofnon-conforming measures of each ATISA member country./.
VNA
#ASEAN #ATISA #ASEAN Trade in Services Agreement #AFAS #Vietnam #Vietnam news ageny #vietnamplus
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