Financial inclusion and trade agreements Sanya Reid Smith Third - - PowerPoint PPT Presentation

U N I T E D N A T I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T U N I T E D N A T I O N S C O N F E R E N C E O N T R A D E A N D D E V E L O P M E N T

Expert Meeting on THE IMPACT OF ACCESS TO FINANCIAL SERVICES, INCLUDING BY HIGHLIGHTING THE IMPACT ON REMITTANCES ON DEVELOPMENT: ECONOMIC EMPOWERMENT OF WOMEN AND YOUTH

12-14 November 2014

SESSION 6: FINANCIAL INCLUSION, TRADE AGREEMENTS AND REGULATORY REFORM

• Ms. Sanya Reid Smith

Senior Legal Adviser Third World Network

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P R O S P E R I T Y F O R A L L

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Financial inclusion and trade agreements

Sanya Reid Smith Third World Network 14/11/2014

Some trade & investment provisions

Provision that can adversely affect financial inclusion In GATS? In FTA (including TISA)? In BIT/investment chapter of FTA? Liberalisation of financial services Can be Can be Can be Access for new financial services N Can be Can be Removal of certain lending requirements Requested Can be Can be Subsidiaries versus branches with implications for locally held reserves Can be Can be Can be Removal of requirement for reserves to be held in host country Requested Can be Can be Disciplines on ability to restrict size of financial institutions Can be Can be Can be Limited prudential defence Y Can be Can be WTO+ restrictions on capital controls N Can be Can be Disciplines on domestic regulation In negotiation Can be Can be Requirement for fair and equitable treatment of foreign investors N See next column Usually Investor to state dispute settlement (ISDS) N See next column Usually WTO+ disciplines on state owned enterprises N Can be Unlikely Disciplines on insurance cooperatives N Can be Unlikely Disciplines on postal insurance N Can be Unlikely

Thank you

sanya@twnetwork.org

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