Asean Trade In Services Agreement

Following the launch of the ASEAN community in 2015, ASEAN leaders adopted the 2025 CONCEPT of ASEAN at the 27th ASEAN Summit in Kuala Lumpur on 22 November 2015. With regard to trade in services, the Economic Community`s ASEAN approach for 2025 confirmed ASEAN`s intention to expand and deepen the integration of services, to promote ASEAN integration in global supply chains, both for goods and services, and to improve the competitiveness of ASEAN Member States in the services sector. It also provided that THE next ASEAN agenda was to negotiate and implement the ASEAN Trade in Services Agreement (ATISA) as a legal instrument for further integration of service sectors in the region. Since 1 January 1996, ASEAN has concluded ten AFAS commitment packages signed by the AEM in five rounds of negotiations. These packages detail the obligations of the various ASEAN Member States in different service sectors and sub-sectors. ATISA deepens service integration and creates a more liberal, stable and predictable environment for service providers in the region. It builds on all the achievements of ASEAN Member States (AMS) under the ASEAN Services Framework Agreement (AFAS) and other related initiatives related to trade in services. An important milestone in the history of services liberalization in ASEAN, as in other ASEAN economies, is the adoption by ASEAN heads of state and government of the ASEAN Economic Community (ASEAN) approach at the 13th ASEAN Summit in Singapore on 20 November 2007. With the AEC`s approach, ASEAN has formalized and strengthened its efforts to further liberalize the objective of free service delivery, in line with the semi-annual objectives and thresholds of this AEC project, as well as the additional parameters set by ministers. In addition to the decline in trade during the 2008-09 global economic crisis, ASEAN`s services exports increased steadily from $112.5 billion in 2005 to $404.9 billion in 2018, an average annual growth rate of 10.7%; ASEAN services imports also increased from $139.6 billion to $373.8 billion, representing an average annual growth rate of 8.3%. Also note that ASEAN has become a net exporter of services since 2016.

The ON-THE-TRADE in ASEAN (ATISA) agreement has been concluded and its signature is expected to be concluded shortly after the conclusion of the remaining Member State`s internal agreement for the signing of the agreement. The negative rating approach under ATISA provides greater transparency on the details of the current service regime in the AMS, thereby providing service providers with a higher degree of confidence in the region`s economy. All this contributes to a gradual and wider coverage of the obligation for ASEAN Member States to essentially remove restrictions on trade in services between them. In addition, ASEAN has concluded professional services signed by the ASEAN (AEM) Ministers of The Economy in 7 (seven): in addition, there were seven additional packages of financial services commitments under AFAS signed by AFMM (the second, third, fourth, fifth, sixth and eighth packages of financial services commitments under AFAS) and eight additional packages of air transport commitments under AFAS , signed by atM (fourth set of financial services commitments under AFAS) (fourth package of AFAS commitments), fifth, sixth, sixth, eighth, eighth, ninth, tenth and eleventh set of air services commitments under AFAS). Given the growing importance of trade in services, ASEAN Member States have formally begun their joint efforts to promote free trade in services in the region through the ASEAN Framework Agreement (AFAS), signed on 15 December 1995 by ASEAN Economic Ministers (AEM) at the 5th ASEAN Summit in Bangkok , in Tha

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