Grupo de Negociaciones «obre Servicios Original : inglés

RESTRICTED NEGOCIACIONES COMERCIALES ~'... A<., MTN.GNS/W/131/Add.l MULTILATERALES 8 de noviembre de 1991 RONDA URUGUAY Distribución especial Grupo de Negociaciones «obre Servicios Original : inglés COMUNICACIÓN DE LA REPÚBLICA DE FILIPINAS Oferta preliminar y condicional de Filipinas en materia de compromisos iniciales sobre el comercio internacional de servicios Addendum La comunicación siguiente se distribuye a petición de la delegación permanente de la República de Filipinas. Filipinas asigna particular importancia a la conclusión satisfactoria de las negociaciones de la Ronda Uruguay sobre el comercio internacional de servicios, dada la creciente participación de los servicios en el comercio mundial y su importancia para la economía filipina. Como cuestión de política nacional, Filipinas no sólo mantiene una equitativa apertura sino que además ha adoptado diversas medidas legislativas destinadas a liberalizar y promover la participación extranjera en su economía. Recientemente se ha promulgado la Ley sobre Inversiones Extranjeras de 1991, encaminada a simplificar el proceso y los criterios para realizar una actividad económica e invertir en Filipinas. A falta de una nomenclatura internacionalmente válida y con miras a lograr el establecimiento de un acuerdo marco completo y multilateralmente ventajoso en esta esfera, Filipinas presenta la oferta voluntaria que se indica en la lista adjunta. Queda entendido que esta oferta es condicional y que Filipinas se reserva el derecho de mantenerla o modificarla en cualquier momento, total o parcialmente, en función dei resultado satisfactorio de las negociaciones -plasmado en un texto equilibrado dei Acuerdo General sobre el Comercio de Servicios y sus anexos- y de las ofertas presentadas por los demás participantes en las negociaciones. Se ha de tener en cuenta que los compromisos iniciales que se establecen en esta oferta estarán en conformidad con la Constitución de la República de Filipinas y varias leyes especificas -entre otras las siguientes: a) Ley sobre Inversiones Extranjeras de 1991; b) Ley General sobre la Banca; c) Código de Seguros; d) leyes de inmigración de Filipinas; e) leyes laborales de Filipinas; f) Ley sobre Servicios./. SECRETARIA DEL GATT UR-91-0152

MTN:GNS/W/131/Add.l Página 2 Públicos; y g) Código sobre Sociedades- y con los convenios, acuerdos y tratados internacionales de los que el Gobierno de Filipinas es parte. En el sector de los servicios financieros, entre las leyes pertinentes figuran las siguientes: i) el Decreto Presidencial 1034, que autoriza el establecimiento de un sistema bancario extranjero en el pais; ii) la Ley de la República 720, que prevé la creación, organización y explotación de bancos rurales en el pais; iii) la Ley de la República 3779, que prevé la reglamentación y supervisión de las actividades de las asociaciones de ahorro y préstamo; iv) la Ley de la República 4093, que promueve el establecimiento de más bancos de desarrollo privados; v) la Ley de la República 5980, que regula las actividades de las sociedades de financiación; vi) el Decreto Presidencial 114, que regula el establecimiento y explotación de casas de empeño; vil) el Decreto Presidencial 129, por el que se rigen las sociedades de inversión; viii) la Ley de la República 1405, que prohibe revelar información o efectuar investigaciones sobre los depósitos en las instituciones bancarias; ix) la Ley de la República 6426, que establece un sistema de depósito de divisas en Filipinas; y x) el Decreto Presidencial 1688, que autoriza a los bancos a invertir en el capital de sociedades que financian operaciones arriesgadas organizadas para prestar ayuda a las empresas pequeñas y medianas. A continuación se explican los términos empleados en la lista: (no aplicable): (ninguna) (sin consolidar): El modo de prestación no es viable o pertinente para el subsector/la actividad con arreglo a las leyes y condiciones de Filipinas. No se aplican limitaciones, condiciones, reservas ni restricciones con respecto al acceso a los mercados o al trato nacional. Sin embargo, esto no significa que no existan leyes o reglamentos que regulen la actividad en cuestión. No se asume ningún compromiso de consolidar las normas y reglamentos vigentes en relación con el acceso a los mercados y el trato nacional.

PRELIMINARY AND CONDITIONAL OFFER OF THE PHILIPPINES CONCERNING INITIAL COMMITMENTS ON TRADE IN SECURITIES ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Stock brokers/ dealers Subject to pertinent taxation laws and licensing requirements Subject to existing conditions/ requirements applicable to local license Stock transfer agent Subject to pertinent taxation laws and licensing requirements Subject to existing conditions/ requirements applicable to local license Issuers of pre-need plans Subject to pertinent taxation laws and licensing requirements Subject to existing conditions/ requirements applicable to local license Commodity futures brokers merchants Presently there is ban on foreign trading except for registered bonafide hedgers Subject to pertinent taxation laws and licensing requirements Subject to existing conditions/ requirements applicable to local license

INSURANCE ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Direct Insurance (non-life only) Foreigners may participate up to 40% of the total share capital of non-life insurance companies (Omnibus Investment Code; Foreign Investments Act 1991) Insurance auxiliary services (consultancies, underwriting of highly technical risks, risk management) Subject to the Immigration Law and prior evaluation of qualifications by the Insurance Commission Reinsurance Priority cessions to domestic insurers/reinsurers (Insurance Code, Sec. 218; CL 8.26.80; CL 12.16.81 ; IMC 3.78) Foreign reinsurers shall be represented by resident agents registered with the Insurance Commission. Professional Reinsurance Foreign exchange outflow is subject to Central Bank regulations. Foreigners may participate up to 40% of the total share capital of a professional reinsurance company (Omnibus Investments Code Foreign Investment Act of 1991)

BANKING Financial Advisory Services ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: (but. subject to existing regulations on foreign exchange payments) Offshore Banking Units (OBUs) may render financial, advisory and related services to residents subject to terms and conditions under Sec. 84 of Central Bank Circular 960. Entry of other entities is subject to the Foreign Investments Act of 1991, under this law, effective November 1991, foreigners may own up to 100% of the total equity of the corporation provided the line of business to be established is not included in the negative list. Subject to Immigration Laws Credit Card Companies Under the Foreign Investments Act of 1991, effective November 1991, foreigners may own up to 100% of the total equity of the corporation provided the line of business to be established is not included in the negative list. Foreign exchange payments subject to existing regulations Subject to Immigration Laws

TOURISM Hotels, resorts and apartéis INCIDENTAL JO MANUFACTURING Factory technicians. operatives, assemblers in specific industries Highly skilled metal workers like tool and die makers, metal moulders and core makers Product and textile designers ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Subject to the Foreign Investments Act of 1991, Omnibus Investments Act and other related national policies. Subject to the joint circular agreement among the Department of Tourism (DOT), Department of Labor and Employment (DOLE) and the Commission on Immigration and Deportation (CID) which allows only four categories of hotel and restaurant workers to seek employment in the s: general manager, food and beverage manager and two chefs. Entry of foreign service providers shall be subject to Immigration Laws and the Labor Code provision on "Employment of Alien Workers". Subject to existing investment policies Subject to the joint circular agreement among the DOT, DOLE and CID which allows only four categories of hotel and restaurant workers to seek employment in the s: general manager, food and beverage manager and two chefs. Subject to Immigration Laws and the Labor Code provision on "Employment of Alien Workers". Garment workers

TRANSPORT ON 1 MARKET ACCESS IN RESPECT TO ' THE FOLLOWING MODES OF DELIVERY: Rail Transport Services - passenger transportation - freight 1 transportation - pushing and towing services - maintenance & repair of rail transport equipment - support services for rail transport services Foreign ownership limited to 40% Securities and Exchange Commission rules and regulations Franchise/permit to operate has to be granted by the Land Transportation Franchising and Regulatory Board and operations subject to its economic regulations and to the technical and safety requirements of the Department of Transportation and Communications Entry of foreign personnel subject :o the Immigration Laws, as well as on existing as to required training and certification Subject to Labor Laws Executives and managers of Filipino corporations must be citizens of the s, except those granted under the Build, Operate and Transfer (BOT) Law

Road Transport Services. - passenger transportation - freight transportation - rental of commercial vehicles with operator - maintenance & repair of road transport services - supporting services for road transport ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Movement of consumer ( 1) Foreign ownership limited to 40% Securities and Exchange Commission Franchise/permit to operate has to be granted by the Land Transportation Franchising and Regulatory Board and operations subject to its economic regulations and to the vehicle registration and safety requirements of the Land Transportation Office Entry of foreign personnel subject to the Immigration Laws, as well as on existing as to required training and certification Executives and managers of Filipino corporations must be citizens of the s. Subject to Labor Laws

ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Air Transport Services (Domestic and Foreign) - passenger transportation, - freight transportation - rental of vessels with crew - maintenance & repair of vessels - supporting services for air transport Traffic rights subject to bilateral agreements (first to fifth freedoms) Foreign ownership limited to 40% Securities and Exchange Commission rules and regulations For domestic operation, congressional franchise is required Certificate of Public Convenience and Necessity (CPCN)/permit to operate has to be issued by the Civil Aeronautics Board and operations subject to its economic regulations and to the aircraft registration and safety requirements of the Air Transportation Office. Entry of foreign personnel subject to the Immigration Laws, as well as on existing as to required training and certification Subject to Labor Laws Executives and managers of Filipino corporations must be citizens of the s

ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY:! Maritime Transport Services (Domestic & Foreign) - passenger transportation - freight transportation - rental of vessels with crew. - maintenance & repair of vessels - supporting services for \ maritime transport - pushing and towing ~" i " Foreign ownership limited to 40% Securities and Exchange Commission rules and regulations Franchise/permit to operate has to be granted by the Maritime Industry Authority (MARINA) and operations subject to its economic regulations and to the safety requirements of the Coast Guard. For domestic shipping. foreign-owned ships chartered by Filipino nationals/entities, upon registration as flag carrier. are exempted from Cabotage Law. Operation of Ocean freight forwarders/nonvessel-operating-common carriers (NVOCCs) are subject to MARINA'S rules and regulations. Entry of foreign personnel subject to the Immigration Laws, as well as on existing rules and regulations as to required training and certification. Subject to Labor Laws Executives and managers of Filipino corporations must be citizens of the s

ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: Services auxiliary to all modes of transport - cargo handling services - storage & warehouse services - freight transport agency services Subject to customs Foreign ownership limited to 40% Securities and Exchange Commission Authority/permit to operate has to be granted by the responsible agency as follows: Ports Authority for port cargo handling/ warehousing and the Bureau of Customs for bonded warehouses/ customs brokerage/ freight forwarding. Entry of foreign personnel subject to the Immigration Laws, as well as on existing as to required training and certification Subject to Labor Laws Executives and managers of Filipino corporations must be citizens of the s.

ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: I Leasing/rental of transport equipment without crew - ships - aircraft & others Entry of vehicles/ equipment covered by customs regulations Subject to the Central Bank rules and regulations, particularly on foreign currency transactions Foreign ownership limited to 40% ( 1 ) Securities and Exchange Commission Transport equipment subject to registration requirements of concerned agencies (road vehicles - Land Transportation Office; water-borne vehicles - Coast Guard and Maritime Industry Authority; and aircraft - Air Transportation Office). Entry of foreign personnel subject to the Immigration Laws Subject to Labor Laws

COMMUNICATIONS Courier Services (Domestic and International) ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: ( 1 ) Subject to postal and customs rules and regulations Foreign ownership limited to 40% Securities and Exchange Commission Permit to operate has to be granted by the Postal Service Office and operations subject to its economic regulations Authorization for air transport operations is not covered by permit Entry of foreign personnel subject to the Immigration Laws, as well as on existing as to required training and certification Executives and managers of Filipino corporations must be citizens of the s. Subject to postal and customs rules and regulations Subject to Labor Laws

ON MARKET ACCESS IN RESPECT TO THE FOLLOWING MODES OF DELIVERY: QUALIFICATIONS ON NATIONAL TREATMENT Telecommunications Services - Voice telephone services - packet-switched data transmission - circuit-switched data transmission - telex services - telegraph services - facsimile services - electronic mail - voice mail - on-line information and database retrieval - electronic data exchange - value-added facsimile services Subject to the rules and regulations of the National Telecommunications Commission Foreign ownership limited to 40% Securities and Exchange Commission Franchise/permit to operate has to be granted by the National Telecommunications Commission and operations subject to its economic regulations and equipment standards and specifications. Entry of foreign personnel subject to the Immigration Laws, as well as on existing as to required training and certification ( 2) Subject to Labor Laws Executives and managers of Filipino corporations must be citizens of the s.