64
Table 2C.3
Costa Rica’s Financial Services Trade Liberalization Commitments Main commitments under GATS (1997)
Sector
Market access
National treatment
Horizontal (only those most relevant for financial services) Mode 4: Same as for market All sectors Mode 3: Limitations on access (including juridical form of establishfinancial services) ment for financial services providers Mode 4: No commitments except for entry and temporary stay of (at most 2) senior executives and supervisors of an enterprise Financial services specific Modes 1, 2, 3, and 4: No Modes 1, 2, 3, and 4: No Insurance and commitments commitments insurance-related services
Improvement in commitments under CAFTA-DR-U.S. Market access
National treatment Mode 3: No more than a minority of the board of directors of a foreignowned financial institution may be composed of nationals or residents
Mode 1: Liberalization of sale and intermediation of MAT and space launching and freight insurance, sale and intermediation of reinsurance and retrocession, sale and intermediation of services necessary to support global accounts (for multinationals), and sale of services auxiliary to aforementioned insurance lines (no later than date of entry into force of the agreement); liberalization of all remaining insurance
Mode 1: Same as for market access Mode 3: Same as for market access Mode 4: Same as for market access