Russia’s WTO Commitments on Banking Services—Opportunities for Foreign Investors

more+
less-
more+
less-
Explore:  GATS WTO

Introduction -

In its accession to the World Trade Organization (WTO), Russia undertook important and far-reaching commitments on the regulation of banking services. These commitments create rights and legal security for current and potential suppliers of banking services to Russia. The commitments are set out in Russia’s Schedule of Commitments under the WTO General Agreement on Trade in Services (GATS). Russia’s trading partners can enforce the rights of foreign banks to supply these services to the Russian market through the dispute settlement system of the WTO.

Background: The GATS -

The GATS is a comprehensive multilateral agreement, covering all governmental measures, including domestic regulation affecting trade in services. It applies at both the national and sub-national levels of government. It also covers every means by which services, including banking, can be supplied internationally. It defines trade in services through four “modes of supply”...

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  GATS, WTO

Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »