DIRECTORATEGENERAL FOR EXTERNAL POLICIES（DIRECTORATEGENERAL外部政策）.pdf

DIRECTORATE-GENERAL FOR EXTERNAL POLICIES POLICY DEPARTMENT STUDY Financial services liberalisation and TiSA: implications for EU Free Trade Agreements ABSTRACT With 23 participating countries, including all of the world’s largest financial centres, covering the vast bulk of global financial services trade, the TiSA negotiations on financial services trade are strategically important for the EU. They are likely to deliver commitments and rules, which go significantly beyond the GATS package negotiated over two decades ago – and to extend their umbrella to a greater range of countries. In addition, the level of market access commitments ultimately incorporated into TiSA will set a new benchmark and reference point for future EU FTA negotiations. Depending on the outcome of remaining negotiations, the TiSA may also establish influential new and consolidated texts on such matters as data transfer, forced localisation, source code, regulatory transparency, and domestic regulation. EP/EXPO/B/INTA/2016/09 EN July 2016-PE578.019 © European Union, 2016 Policy Department, Directorate-General for External Policies This paper was requested by the European Parliaments Committee on International Trade. English-language manuscript was completed on 26 July 2016. Printed in Belgium. Authors: Professor Andrew LANG, Professor of International Economic Law, London School of Economics and Political Science (LSE), and Leonie AMARASEKARA, research assistant to Professor LANG Official Responsible: Elina VIILUP Feedback of all kind is welcome. Please write to: elina.viilup@europarl.europa.eu. To