Chile - EU Interim Trade Agreement (2023)
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Measures

AT: Insurance Supervision Act 2016, Article 13 para. 1 and 2, Federal Law Gazette I No. 34/2015

(Versicherungsaufsichtsgesetz 2016, § 13 Abs. 1 und 2, BGBI. I Nr. 34/2015)

DE: Versicherungsaufsichtsgesetz (VAG) for all insurance services; in connection with

Luftverkehrs-Zulassungs-Ordnung (LuftVZO) only for compulsory air liability insurance.

DK: Lov om finansiel virksomhed jf. lovbekendtggrelse 182 af 18. februar 2015. EL: Art. 130 of the Law 4364/ 2016 (Gov. Gazette 13/ A/ 05.02.2016).

HU: Act LX of 2003LT: Law on Insurance, 18 of September, 2003 m. Nr. [X-1737, last amendment 13 of June 2019 Nr. XII-2232.

SE: Lag om forsakringsdistribution (Insurance Distribution Mediation Act) (Chapter 3, section 3, 2018:1219); and Foreign Insurers Business in Sweden Act (Chapter 4, section 1 and 10, 1998:293).

SK: Act 39/2015 on insurance.

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Reservation 2: Sub-sector: Banking and other financial services

Type of reservation: National treatment Local presence Level of government: EU/Member State (unless otherwise specified)

With respect to Investment liberalisation— National treatment and Cross-border trade in financial

services — Local presence:

In BG: For pursuing the activities of lending with funds which are not raised through taking of deposits or other repayable funds, acquiring holdings in a credit institution or another financial institution, financial leasing, guarantee transactions, acquisition of claims on loans and other forms of financing (factoring, forfeiting, etc.), non-bank financial institutions are subject to registration regime with the Bulgarian National Bank. The financial institution shall have its main business in

the territory of Bulgaria.

With respect to Investment liberalisation — National treatment and Cross-border trade in financial

services — Local presence:

In BG: Non-EEA banks may pursue banking activity in Bulgaria after obtaining a license from BNB for taking up and pursuing of business activities in the Republic of Bulgaria through a branch.

In IT: In order to be authorised to operate the securities settlement system or to provide central securities depository services with an establishment in Italy, a company is required to be

incorporated in Italy (no branches).

In the case of collective investment schemes other than undertakings for collective investment in transferable securities ("UCITS") harmonised under Union legislation, the trustee or depository is required to be established in Italy or in another Member State and have a branch in Italy.

Management enterprises of investment funds not harmonised under Union legislation are also

required to be incorporated in Italy (no branches).

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Only banks, insurance enterprises, investment firms and enterprises managing UCITS harmonised under Union legislation having their legal head office in the Union, as well as UCITS incorporated

in Italy, may carry out the activity of pension fund resource management.

In providing the activity of door-to-door selling, intermediaries must utilise authorised financial

salesmen resident within the territory of a Member State.

Representative offices of non-European Union intermediaries cannot carry out activities aimed at providing investment services, including trading for own account and for the account of customers,

placement and underwriting financial instruments (branch required). With respect to Investment liberalisation — National treatment

In PT: Pension fund management may be provided only by specialised companies incorporated in PT for that purpose and by insurance companies established in PT and authorised to take up life insurance business, or by entities authorised to provide pension fund management in other Member

States. Direct branching from non-European Union countries is not permitted. Measures:

BG: Law on Credit Institutions, article 2, paragraph 5, article 3a and article 17 Code Of Social Insurance, articles 121, 121b, 121f; and Currency Law, article 3.

IT: Legislative Decree 58/1998, articles 1, 19, 28, 30-33, 38, 69 and 80;

Joint Regulation of Bank of Italy and Consob 22.2.1998, articles 3 and 41;

Regulation of Bank of Italy 25.1.2005;

Title V, Chapter VI, Section II, Consob Regulation 16190 of 29.10.2007, articles 17-21, 78-81, 91- 111; and subject to:

Regulation (EU) No 909/2014 of the European Parliament and of the Council!.

1 Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257

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PT: Decree-Law 12/2006, as amended by Decree-Law 180/2007 Decree-Law 357-A/2007, Regulation 7/2007-R, as amended by Regulation 2/2008-R, Regulation 19/2008-R, Regulation 8/2009. Article 3 of the legal regime governing the establishment and functioning of pension funds and their management entities approved by Law 27/2020, of July 23rd.

With respect to Investment liberalisation— National treatment:

In HU: Branches of non-EEA investment fund management companies may not engage in the management of European investment funds and may not provide asset management services to

private pension funds.

Measures:

HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; and Act CXX of 2001 on the Capital Market.

With respect to Investment liberalisation — National Treatment

In BG: A bank shall be managed and represented jointly by at least two persons. The persons who manage and represent the bank shall be personally present at its management address. Legal persons may not be elected members of the managing board or the board of directors of a bank.

Measures:

BG: Law on Credit Institutions, article 10;

Code Of Social Insurance, article 121¢; and

Currency Law, article 3.

With respect to Investment liberalisation — National treatment:

In HU: The board of directors of a credit institution shall have at least two members recognised as

resident according to foreign exchange regulations and having had prior permanent residence in HU

for at least one year.

28,8,2014, p. 1). 21

Measures:

HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; and Act CXX of 2001 on the Capital Market.

With respect to Cross-border trade in financial services — Local presence: In HU: Non-EEA companies may provide financial services or engage in activities auxiliary to

financial services solely through a branch in HU.

Measures:

HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises; and Act CXX of 2001 on the Capital Market.

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Section SECTION D: FUTURE MEASURES FOR FINANCIAL SERVICES

Reservation 1: Sub-sector: Insurance and insurance-related services

Type of reservation: National treatment Local presence Level of government: EU/Member State (unless otherwise specified)

The EU reserves the right to adopt or maintain any measure with respect to the following:

With respect to Cross-border trade in financial services — Local presence:

In BG: Transport insurance, covering goods, insurance of vehicles as such and liability insurance regarding risks located in Bulgaria may not be underwritten by foreign insurance companies directly.

In DE: If a foreign insurance company has established a branch in Germany, it may conclude insurance contracts in Germany relating to international transport only through the branch established in Germany.

Existing measures:

DE: Luftverkehrsgesetz (LuftVG); and

Luftverkehrszulassungsordnung (LuftVZO).

With respect to Investment liberalisation — National treatment and Cross-border trade in financial

services — Local presence:

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In ES: Residence is required, or alternatively to have two years of experience, for the actuarial

profession.

In FI: The supply of insurance broker services is subject to a permanent place of business in the EU. Only insurers having their head office in the European Union or having their branch in Finland may

offer direct insurance services, including co-insurance.

Existing measures:

FI: Laki ulkomaisista vakuutusyhtidisté (Act on Foreign Insurance Companies) (398/1995); Vakuutusyhtidlaki (Insurance Companies Act) (521/2008);

Laki vakuutusten tarjoamisesta (Act on Insurance Distribution) (234/2018).

With respect to Cross-border trade in financial services — Local presence: In FR: Insurance of risks relating to ground transport may be underwritten only by insurance firms

established in the European Union.

Existing measures:

FR: Code des assurances.

In HU: Only legal persons of the EU and branches registered in Hungary may supply direct

insurance services.

Existing measures: HU: Act LX of 2003.

In IT: Transport insurance of goods, insurance of vehicles and liability insurance regarding risks located in Italy may be underwritten only by insurance companies established in the European Union, except for international transport involving imports into Italy.

Cross-border supply of actuarial services is not allowed.

Existing measures: IT: Article 29 of the code of private insurance (Legislative decree no. 209 of 7 September 2005),

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With respect to Investment liberalisation — National treatment and Cross-border trade in financial services — Local presence:

In PT: Air and maritime transport insurance, covering goods, aircraft, hull and liability can be underwritten only by enterprises legal persons of the European Union. Only natural persons of, or enterprises established in, the European Union may act as intermediaries for such insurance

business in Portugal.

Existing measure: PT: Article 3 of Law 147/2015, Article 8 of Law 7/2019.

With respect to Investment liberalisation— National treatment and Cross-border trade in services

— Local presence:

In SK: Foreign nationals may establish an insurance company in the form of a joint stock company or may conduct insurance business through their branches having a registered office in the Slovak

Republic. The authorisation in both cases is subject to the evaluation of the supervisory authority.

Existing measures: SK: Act 39/2015 on Insurance.

With respect to Investment liberalisation— National treatment:

In FI: At least one half of the members of the board of directors and the supervisory board, and the managing director of an insurance company providing statutory pension insurance shall have their place of residence in the EEA, unless the competent authorities have granted an exemption. Foreign insurers cannot obtain a licence in Finland as a branch to carry out statutory pension insurance. At

least one auditor shall have his permanent residence in the EEA.

For other insurance companies, residency in the EEA is required for at least one member of the board of directors, the supervisory board and the managing director. At least one auditor shall have his permanent residence in the EEA. The general agent of an insurance company of Chile must have

his place of residence in Finland, unless the company has its head office in the European Union.

Existing measures:

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FI: Laki ulkomaisista vakuutusyhtidisté (Act on Foreign Insurance Companies) (398/1995); Vakuutusyhtidlaki (Insurance Companies Act) (521/2008);

Laki vakuutusedustuksesta (Act on Insurance Mediation) (570/2005);

Laki vakuutusten tarjoamisesta (Act on Insurance Distribution) (234/2018) and

Laki tydeliékevakuutusyhtidista (Act on Companies providing statutory pension insurance) (354/1997).

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Reservation 2: Sub-sector: Banking and other Financial Services Type of reservation: National treatment Senior management and boards of directors

Local presence

Level of government: EU/Member State (unless otherwise specified)

The EU reserves the right to adopt or maintain any measure with respect to the following:

With respect to Investment liberalisation - National treatment and Cross-border trade in financial

services — Local presence:

The EU: Only legal persons having their registered office in the Union can act as depositories of the assets of investment funds. The establishment of a specialised management company, having its head office and registered office in the same Member State, is required to perform the activities of management of common funds, including unit trusts, and where allowed under national law, investment companies.

Existing measures:

EU: Directive 2009/65/EC of the European Parliament and of the Council”; and Directive 2011/61/EU of the European Parliament and of the Council of 8 June 201 1°.

With respect to Cross-border trade in financial services — Local presence: In EE: For acceptance of deposits, requirement of authorisation by the Estonian Financial Supervision Authority and registration under Estonian law as a joint-stock company, a subsidiary or

a branch,

Existing measures:

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EE: Krediidiasutuste seadus (Credit Institutions Act) § 206 and §21.

With respect to Investment liberalisation —National treatment, Senior management and board of

directors:

In FI: At least one of the founders of a credit institution and at least one of the members of its Board of Directors as well as its Managing Director shall be permanently resident or, if the founder is a legal person, have its registered office in the European Economic Area unless the Financial Supervision Authority grants an exemption therefrom. The exemption may be granted if it does not endanger the efficient supervision of the credit institution and the management of the credit institution in accordance with sound and prudent business principles. At least one auditor shall have his permanent residence in the EEA.

For payment services, residency or domicile in Finland may be required.

Existing measures:

FI: Laki liikepankeista ja muista osakeyhtiémuotoisista luottolaitoksista (Act on Commercial Banks and Other Credit Institutions in the Form of a Limited Company) (1501/2001); Saastépankkilaki (1502/2001) (Savings Bank Act);

Laki osuuspankeista ja muista osuuskuntamuotoisista luottolaitoksista (423/2013) (Act on Cooperative Banks and Other Credit Institutions in the Form of a Cooperative Bank);

Laki hypoteekkiyhdistyksisté (936/1978) (Act on Mortgage Societies);

Maksulaitoslaki (297/2010) (Act on Payment Institutions);

Laki ulkomaisen maksulaitoksen toiminnasta Suomessa (298/2010) (Act on the Operation of Foreign Payment Institution in Finland); and

Laki luottolaitostoiminnasta (Act on Credit Institutions) (610/2014).

With respect to Investment liberalisation— National treatment In IT: Services of "consulenti finanziari" (financial consultant). In providing the activity of door-to- door selling, intermediaries must utilise authorised financial salesmen resident within the territory

of a Member State.

Existing measures:

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IT: Articles 91-111 of Consob Regulation on Intermediaries (no. 16190 of 29 October 2007).

With respect to Cross-border trade in financial services — Local presence:

In LT: Only banks having their registered office or branch in Lithuania and authorised to provide investment services in the EEA may act as the depositories of the assets of pension funds. At least one head of a bank's administration must speak the Lithuanian language.

Existing measures:

  • Chapter   1 GENERAL PROVISIONS 1
  • Article   1.1 Establishment of a Free Trade Area 1
  • Article   1.2 Objectives 1
  • Article   1.3 Definitions of General Application 1
  • Article   1.4 Relation to the WTO Agreement and other Agreements 1
  • Article   1.5 References to Laws and other Agreements 1
  • Article   1.6 Fulfilment of Obligations 1
  • Chapter   2 TRADE IN GOODS 1
  • Article   2.1 Objective 1
  • Article   2.2 Scope 1
  • Article   2.3 Definitions 1
  • Article   2.4 National Treatment on Internal Taxation and Regulation 1
  • Article   2.5 Elimination of Customs Duties 1
  • Article   2.6 Standstill 1
  • Article   2.7 Export Duties, Taxes or other Charges 1
  • Article   2.8 Fees and Formalities 1
  • Article   2.9 Repaired Goods 1
  • Article   2.10 Remanufactured Goods 1
  • Article   2.11 Import and Export Restrictions 2
  • Article   2.12 Origin Marking 2
  • Article   2.13 Import Licensing Procedures 2
  • Article   2.14 Export Licensing Procedures 2
  • Article   2.15 Customs Valuation 2
  • Article   2.16 Preference Utilisation 2
  • Article   2.17 Specific Measures Concerning the Management of Preferential Treatment 2
  • Article   2.18 Sub-Committee on Trade In Goods 2
  • Chapter   3 RULES OF ORIGIN AND ORIGIN PROCEDURES 2
  • Section   A Rules of Origin 2
  • Article   3.1 Definitions 2
  • Article   3.2 General Requirements 2
  • Article   3.3 Cumulation of Origin 2
  • Article   3.4 Wholly Obtained Products 2
  • Article   3.5 Tolerances 2
  • Article   3.6 Insufficient Working or Processing 2
  • Article   3.7 Unit of Qualification 2
  • Article   3.8 Accessories, Spare Parts and Tools 2
  • Article   3.9 Sets 2
  • Article   3.10 Neutral Elements 2
  • Article   3.11 Packaging and Packing Materials 2
  • Article   3.12 Accounting Segregation for Fungible Materials 2
  • Article   3.13 Returned Products 3
  • Article   3.14 Non Alteration 3
  • Article   3.15 Exhibitions 3
  • Section   B Origin Procedures 3
  • Article   3.16 Claim for Preferential Tariff Treatment 3
  • Article   3.17 Statement on Origin 3
  • Article   3.18 Discrepancies and Minor Errors 3
  • Article   3.19 Importer's Knowledge 3
  • Article   3.20 Record Keeping Requirements 3
  • Article   3.21 Exemptions from the Statement on Origin 3
  • Article   3.22 Verification 3
  • Article   3.23 Administrative Cooperation 3
  • Article   3.24 Mutual Assistance In the Fight Against Fraud 3
  • Article   3.25 Denial of Preferential Tariff Treatment 3
  • Article   3.26 Confidentiality 3
  • Article   3.27 Refunds and Claims for Preferential Tariff Treatment after Importation 3
  • Article   3.28 Administrative Measures and Sanctions 3
  • Section   C Final Provisions 3
  • Article   3.29 Ceuta and Melilla 3
  • Article   3.30 Amendments to the Chapter 3
  • Article   3.31 Special Committee on Customs, Trade Facilitation and Rules of Origin 3
  • Article   3.32 Goods In Transit or Storage 3
  • Article   3.33 Explanatory Notes 3
  • Chapter   4 CUSTOMS AND TRADE FACILITATION 3
  • Article   4.1 Objectives 3
  • Article   4.2 Definitions 3
  • Article   4.3 Customs Cooperation 4
  • Article   4.4 Mutual Administrative Assistance 4
  • Article   4.5 Customs Laws and Procedures 4
  • Article   4.6 Release of Goods 4
  • Article   4.7 Simplified Customs Procedures 4
  • Article   4.8 Authorised Economic Operator - AEO 4
  • Article   4.9 Data and Documentation 4
  • Article   4.10 Use of Information Technology and Electronic Payment 4
  • Article   4.11 Risk Management 4
  • Article   4.12 Post-clearance Audit 4
  • Article   4.13 Transparency 4
  • Article   4.14 Advance Rulings 4
  • Article   4.15 Transit and Transhipment 1. Each Party Shall Ensure the Facilitation and Effective Control of Transhipment Operations and Transit Movements Through Their Respective Territories. 2. Each Party Shall Promote and Implement Regional Transit Arrangements with a View to Facilitating Trade. 3. Each Party Shall Ensure Cooperation and Coordination between All Concernedauthorities and Agencies In Their Respective Territories to Facilitate Traffic In Transit. 4
  • Article   4.16 Customs Brokers 4
  • Article   4.17 Pre-shipment Inspections 4
  • Article   4.18 Appeals 4
  • Article   4 Penalties 4
  • Article   4 Customs Committee 4
  • Article   4.21 Temporary Admission 4
  • Article   4.22 Repaired Goods 5
  • Chapter   5 TRADE REMEDIES 5
  • Section   SECTION a Anti-Dumping and Countervailing Duties 5
  • Article   5.1 General Provisions 5
  • Article   5.2 Transparency 5
  • Article   5.3 Consideration of Public Interest 5
  • Article   5.4 Lesser Duty Rule 5
  • Article   5.5 Exclusion from Bilateral Dispute Settlement Mechanism 5
  • Section   SECTION B Global Safeguard Measures 5
  • Article   5.6 General Provisions 5
  • Article   5.7 Transparency and Imposition of Definitive Measures 5
  • Article   5.8 Exclusion from Bilateral Dispute Settlement Mechanism 5
  • Section   SECTION C Bilateral Safeguard Measures SUB-SECTION C.1 5
  • Article   5.9 Definitions 5
  • Article   5.10 Application of a Bilateral Safeguard Measure 5
  • Article   5.11 Conditions and Limitations 5
  • Article   5.12 Provisional Measures 5
  • Article   5.13 Compensation and Suspension of Concessions 5
  • Article   5.14 Time Lapse In between Two Measures 5
  • Article   5.15 Outermost Regions! of the European Union 5
  • Article   5.16 Applicable Law 5
  • Article   5.17 Initiation of a Proceeding 5
  • Article   5.18 Investigation 5
  • Article   5.19 Confidential Information 5
  • Article   5.20 Hearings 5
  • Article   5.21 Notifications and Publications 5
  • Article   5.22 Use of the English Language 5
  • Chapter   6 5
  • Article   6.1 Objective 5
  • Article   6.2 Multilateral Obligations 5
  • Article   6.3 ScopeThis Chapter Shall Apply to: 5
  • Article   6.4 Definitions 5
  • Article   6.5 Competent Authorities 5
  • Article   6.6 Recognition for Trade of Animal Health and Pest Status Andregional Conditions 6
  • Article   6.7 Determination of Equivalence 6
  • Article   6.8 Transparency and Trade Conditions 6
  • Article   6.9 Certification Procedures 6
  • Article   6.10 Verification 6
  • Article   6.11 Import Checks and Inspection Fees 6
  • Article   6.12 Information Exchange 6
  • Article   6.13 Notification and Consultation 6
  • Article   6.14 Safeguard Clause 6
  • Article   6.15 Sub-committee on Sanitary and Phytosanitary Measures 6
  • Article   6.16 Working Cooperation In Multilateral Fora 6
  • Article   6.17 Cooperation on Food Safety, Animal Health and Plant Protection Science 6
  • Article   6.18 Territorial Application” 6
  • Chapter   7 COOPERATION ON SUSTAINABLE FOOD SYSTEMS 6
  • Article   7.1 Objective 6
  • Article   7.2 Scope 6
  • Article   7.3 Definition 6
  • Article   7.4 Sustainability of Food Chain and Reduction In Food Loss and Waste 6
  • Article   7.5 Fight Against Fraud along the Food Chain 7
  • Article   7.6 Animal Welfare 7
  • Article   7.7 Fighting Antimicrobial Resistance 7
  • Article   7.8 The Subcommittee 7
  • Article   7.9 Cooperation In Multilateral Fora 7
  • Article   7.10 Additional Provisions. the Parties Shall Ensure That the Activities of the Subcommittee Referred to In Article 7.8 7
  • Chapter   8 ENERGY AND RAW MATERIALS 7
  • Article   8.1 Objective 7
  • Article   8.2 Principles 7
  • Article   8.3 Definitions 7
  • Article   8.4 Import and Export Monopolies 7
  • Article   8.5 Export Pricing” 7
  • Article   8.6 Domestic Regulated Prices 7
  • Article   8.7 Authorisation for Exploration and Production of Energy Goods and Raw Materials 7
  • Article   8.8 Assessment of Environmental Impact 7
  • Article   8.9 Third-party Access to Energy Transport Infrastructure 7
  • Article   8.10 Access to Infrastructure for Producers of Electricity Generated from Renewable Energy Sources 7
  • Article   8.11 Independent Body1. Each Party Shall Maintain or Establish an Functionally Independent Body or Bodies That: 7
  • Article   8.12 Cooperation on Standards 7
  • Article   8.13 Research, Development and Innovation 7
  • Article   8.14 Cooperation on Energy and Raw Materials 7
  • Article   8.15 Energy Transition and Renewable Fuels 7
  • Article   8.16 Exception for Small and Isolated Electricity Systems 7
  • Article   8.17 Role of the Trade In Goods Sub-Committee In Implementing the Energy and Raw Materials Chapter 7
  • Chapter   9 TECHNICAL BARRIERS TO TRADE 8
  • Article   9.1 Objective 8
  • Article   9.2 Scope 8
  • Article   9.3 Incorporation of Certain Provisions of the TBT Agreement 8
  • Article   9.4 International Standards 8
  • Article   9.5 Technical Regulations 8
  • Article   9.6 Regulatory Cooperation 8
  • Article   9.7 Cooperation on Market Surveillance and Non-food Product Safety and Compliance 8
  • Article   9.8 Standards 8
  • Article   9.9 Conformity Assessment 8
  • Article   9.10 Transparency 8
  • Article   9.11 Marking and Labelling 8
  • Article   9 Technical Discussions and Consultations 8
  • Article   9 Contact Points 8
  • Article   9.14 Sub-Committee on Technical Barriers to Trade 8
  • Chapter   10 INVESTMENT LIBERALISATION 9
  • Article   10.1 Definitions 9
  • Article   10.2 Right to Regulate 9
  • Article   10.3 Scope 9
  • Article   10.4 Relation to other Chapters 9
  • Article   10.5 Market Access 9
  • Article   10.6 National Treatment 9
  • Article   10.7 Public Procurement 9
  • Article   10.8 Most Favoured Nation Treatment 9
  • Article   10.9 Performance Requirements 9
  • Article   10.10 Senior Management and Boards of Directors 9
  • Article   10.11 Non-Conforming Measures 9
  • Article   10.12 Denial of Benefits 9
  • Chapter   11 CROSS-BORDER TRADE IN SERVICES 10
  • Article   11.1 [EU: Objectives 10
  • Article   11.2 Right to Regulate 10
  • Article   11.3 Definitions for the Purposes of this Chapter: Aircraft Repair and Maintenance Services During Which an Aircraft Is Withdrawn from Service 10
  • Article   11.4 Scope 10
  • Article   11.5 National Treatment 10
  • Article   11.6 Most-Favoured-Nation Treatment 10
  • Article   11.7 Local Presence a Party Shall Not Require a Service Supplier of the other Party to Establish or Maintain an 10
  • Article   11.8 Market Access 10
  • Article   11.9 Non-Conforming Measures 10
  • Article   11.5 National Treatment), 11.6 (Most-Favoured-Nation Treatment) and 11.7 (Local Presence) Shall Not Apply to:(a) 10
  • Article   11.10 Denial of Benefits 10
  • Chapter   12 Temporary Presence of Natural Persons for Business Purposes 10
  • Article   12.1 Scope and Definitions 10
  • Article   12.2 Intra-corporate Transferees, Business Visitors for Establishment Purposes and Investors 10
  • Article   12.3 Short-term Business Visitors 11
  • Article   12.4 Contractual Service Suppliers and Independent Professionals 11
  • Article   12.5 Non-conforming Measures 11
  • Article   12.6 Transparency 11
  • Article   12.7 Dispute Settlement 11
  • Chapter   13 DOMESTIC REGULATION 11
  • Article   13.1 Scope and Definitions 11
  • Article   13.2 Conditions for Licensing and Qualification 11
  • Article   13.3 Licensing and Qualification Procedures 11
  • Article   13.4 Review 11
  • Article   9 BisAdministration of Measures of General Application 11
  • Article   9 Ter Appeal of Administrative Decisions 11
  • Chapter   14 MUTUAL RECOGNITION OF PROFESSIONAL QUALIFICATIONS 11
  • Article   14.1 Mutual Recognition of Professional Qualifications 11
  • Chapter   15 DELIVERY SERVICES 11
  • Article   15.1 Scope and DefinitionsThis Section Sets Out the Principles of the Regulatory Framework for All Delivery Services. 11
  • Article   15.2 Universal Service 11
  • Article   15.3 Prevention of Market Distortive Practices 12
  • Article   15.4 Licences 12
  • Article   15.5 Independence of the Regulatory Body 12
  • Chapter   16 TELECOMMUNICATIONS SERVICES 12
  • Article   16.1 Scope1. this Section Sets Out Principles of the Regulatory Framework for the Provision of Telecommunications Networks and Services, Liberalised Pursuant to Sections [...], [...] and [...] of this Chapter. 12
  • Article   16.2 Definitions 12
  • Article   16.3 Telecommunications Regulatory Authority 12
  • Article   16.5 Interconnection 12
  • Article   16.6 Access and Use 12
  • Article   16.7 Resolution of Telecommunications Disputes 12
  • Article   16.8 Competitive Safeguards on Major Suppliers 12
  • Article   16.11 Scarce Resources 12
  • Article   16.12 Number PortabilityEach Party Shall Ensure That Suppliers of Public Telecommunications Services Provide Number Portability, on a Timely Basis, and on Reasonable Terms and Conditions. 12
  • Article   16.13 Universal Service 12
  • Article   16.15 Foreign Shareholding 12
  • Article   16.16 Open and Non-discriminatory Internet Access 12
  • Article   16.17 International Mobile Roaming . the Parties Shall Endeavour to Cooperate on Promoting Transparent and Reasonable Rates 12
  • Chapter   17 INTERNATIONAL MARITIME TRANSPORT SERVICES 12
  • Article   17.1 Scope, Definitions and Principles 12
  • Chapter   18 FINANCIAL SERVICES 13
  • Article   18.1 Scope1. this Chapter Applies to a Measure Adopted or Maintained by a Party Relating to: 13
  • Article   18.2 Definitions for the Purposes of this Chapter: (a) “financial Service” Means a Service of a Financial Nature, Including Insurance 13
  • Article   18.3 National Treatment 13
  • Article   18.4 Public Procurement 13
  • Article   18.5 Most Favoured Nation Treatment 13
  • Article   18.6 Market Access 13
  • Article   18.7 Cross-border Supply of Financial Services 13
  • Article   18.8 Senior Management and Boards of Directors 13
  • Article   18.9 Performance Requirements 13
  • Article   18.10 Non-conforming Measures 13
  • Article   18.11 Prudential Carve-out 14
  • Article   18.12 Treatment of Information 14
  • Article   18.13 Domestic Regulation and Transparency 14
  • Article   18.14 Financial Services New to the Territory of a Party 14
  • Article   18.15 Self-regulatory Organisations 14
  • Article   18.16 Payment and Clearing Systems 14
  • Article   18.17 Financial Services Committee 14
  • Article   18.18 Consultations 14
  • Article   18.19 Dispute Settlement 14
  • Chapter   19 DIGITAL TRADE 14
  • Chapter   Chapter I General Provisions 14
  • Article   19.1 Scope 14
  • Article   19.1 Bis Right to Regulate 14
  • Article   19.2 Definitions 14
  • Article   19.3 Exceptions 14
  • Chapter   Chapter IT Data Flows and Personal Data Protection 14
  • Article   19.4 Cross-border Data Flows: Prohibition of Data Localisation 14
  • Article   19.5 Protection of Personal Data and Privacy 14
  • Chapter   Chapter IIT Specific Provisions 14
  • Article   19.6 Customs Duties on Electronic Transmissions 14
  • Article   19.7 No Prior Authorisation 14
  • Article   19.8 Conclusion of Contracts by Electronic Means 14
  • Article   19.9 Electronic Trust Services and Electronic Authentication 14
  • Article   19.10 Online Consumer Trust 15
  • Article   19.11 Unsolicited Direct Marketing Communications 15
  • Article   19.12 Prohibition of Mandatory Transfer of or Access to Source Code 15
  • Article   19.13 Cooperation on Regulatory Issues with Regard to Digital Trade1. the Parties Shall Maintain a Dialogue on Regulatory Issues Raised by Digital Trade, Which Shall Inter Alia Address the Following Issues: 15
  • Article   19.14 Review 15
  • Chapter   20 15
  • Article   20.1 Objective and Scope 15
  • Article   20.2 Current Account 15
  • Article   20.3 Capital Movements 15
  • Article   20.4 Application of Laws and Regulations Relating to Capital Movements, Payments or Transfers 15
  • Article   20.5 Temporary Safeguard Measures 15
  • Article   20.6 Restrictions In Case of Balance of Payments and External Financial Difficulties 15
  • Chapter   21 PUBLIC PROCUREMENT 15
  • Article   21.1 Definitions 15
  • Article   21.2 Scope and Coverage 15
  • Article   21.3 Security and General Exceptions 16
  • Article   21.4 General Principles 16
  • Article   21.5 Information on the Procurement System 16
  • Article   21.6 Notices 16
  • Article   21.7 Conditions for Participation 16
  • Article   21.8 Qualification of SuppliersRegistration Systems and Qualification Procedures 16
  • Article   21.9 Technical Specifications 16
  • Article   21.10 Tender Documentation 17
  • Article   21.10 BisEnvironmental and Social Considerations 17
  • Article   21.11 Time-periods 17
  • Article   21.12 Negotiation 17
  • Article   21.13 Limited Tendering 17
  • Article   21.14 Electronic Auctions 17
  • Article   21.15 Treatment of Tenders and Awarding of ContractsTreatment of Tenders 17
  • Article   21.16 Transparency of Procurement Information 17
  • Article   21.17 Disclosure of Information 17
  • Article   21.18 Domestic Review Procedures 17
  • Article   21.19 Modifications and Rectifications to Coverage 17
  • Article   21.20 Sub-Committee on Government Procurement 18
  • Article   21.6 Paragraph 7. 18
  • Article   21.21 Facilitation of Participation by Small and Medium Sized Enterprises (SMEs) 18
  • Article   21.22 Cooperation 18
  • Article   21.23 Further Negotiations 18
  • Chapter   22 STATE-OWNED ENTERPRISES, ENTERPRISES GRANTED SPECIAL RIGHTS OR 18
  • Article   22.1 Definitions 18
  • Article   22.2 Scope of Application 18
  • Article   22.3 General Provisions 18
  • Article   22.4 Non-discriminatory Treatment and Commercial Considerations 18
  • Article   22.5 Regulatory Framework 18
  • Article   22.6 Transparency 18
  • Article   22.7 Party-Specific Annexes 18
  • Chapter   23 COMPETITION POLICY 18
  • Article   23.1 Principles 18
  • Article   23.2 Legislative Framework 18
  • Article   23.3 Implementation 18
  • Article   23.4 Cooperation 18
  • Article   23.5 Consultation 18
  • Article   23.6 Non-application of Dispute Settlement 18
  • Chapter   24 SUBSIDIES 18
  • Article   24.1 Principles 18
  • Article   24.2 Definition and Scope 18
  • Article   24.3 Relationship with the WTO 19
  • Article   24.4 Transparency 19
  • Article   24.5 Consultations 19
  • Article   24.6 Subsidies Subject to Conditions1. Each Party, When Granting the Following Subsidies, Shall Apply Conditions as Stated Below: 19
  • Article   24.7 Use of SubsidiesEach Party Shall Ensure That Enterprises Use Subsidies Only for the Explicitly Defined Policy Objective for Which the Subsidies Have Been Granted‘, 19
  • Article   24.8 Exclusion from Dispute SettlementDispute Settlement Does Not Apply to Paragraph 5 of Article 24.5 (Consultations). 19
  • Section   SECTION C GENERAL PROVISIONS 19
  • Article   24.9 Confidentiality 19
  • Chapter   25 INTELLECTUAL PROPERTY 19
  • Section   1 General Provisions 19
  • Article   25.1 Definitions 19
  • Article   25.2 Objectives 19
  • Article   25.3 Principles 19
  • Article   25.4 National Treatment 19
  • Article   25.5 Intellectual Property and Public Health. 19
  • Article   25.6 Nature and Scope of Obligations. 19
  • Article   25.7 Exhaustion 19
  • Section   2 Standards Concerning Intellectual Property Rights 19
  • Article   25.8 International Agreements 19
  • Article   25.9 AuthorsEach Party Shall Provide for Authors the Exclusive Right to Authorise or Prohibit: 19
  • Article   25.10 Performers 19
  • Article   25.11 Producers of Phonograms 19
  • Article   25.12 Broadcasting Organisations 19
  • Article   25.13 19
  • Article   25.14 Term of Protection 19
  • Article   25.15 Resale Right 19
  • Article   25.16 Collective Management of Rights 19
  • Article   25.17 Exceptions and Limitations 19
  • Article   25.18 Protection of Technological Measures 20
  • Article   25.19 20
  • Article   25.20 International Agreements 20
  • Article   25.21 Rights Conferred by a Trademark 20
  • Article   25 Registration Procedure 20
  • Article   25.23 Well-known Trademarks 20
  • Article   25.24 Exceptions to the Rights Conferred by a Trademark1. Each Party: 20
  • Article   25.25 20
  • Article   25.26 Bad Faith Applications 20
  • Article   25.27 20
  • Article   25.28 Protection of Registered Designs!! 20
  • Article   25.29 U for the Purposes of Sub-Section (Designs), the Union Also Grants Protection to the Unregistered Design 20
  • Article   25.30 Exceptions and Exclusions 20
  • Article   25.31 Relationship to Copyright 20
  • Article   25.32 Definition and Scope of Application 20
  • Article   25.33 Listed Geographical Indications 20
  • Article   25.34 Amendment of the List of Geographical Indications 20
  • Article   25.35 Scope of Protection of Geographical Indications 20
  • Article   25.36 '3 as Indicated In Appendix to Annex III, Which Contains Terms for Which Protection Is Not Sought. 20
  • Article   25.37 Relation between Trademarks and Geographical Indications 20
  • Article   25.38 Enforcement of Protection 20
  • Article   25.39 General Rules 20
  • Article   25.40 [Sub-] Committee, Co-operation and Transparency 20
  • Article   25.41 Other Protection 20
  • Article   25.42 International Agreements 21
  • Article   25.43 21
  • Article   25.44 Scope of Protection of Trade Secrets 21
  • Article   25.45 Civil Judicial Procedures and Remedies of Trade Secrets 22
  • Article   25.46 Protection of Undisclosed Data Related to Pharmaceutical Products 22
  • Article   25.47 Protection of Data Related to Agrochemical Products 22
  • Article   25.48 22
  • Section   3 Enforcement of Intellectual Property RightsSub-Section 1 22
  • Article   25.49 General Obligations 22
  • Article   25.50 Persons Entitled to Apply for the Application of the Measures, Procedures and Remedies 22
  • Article   25.51 Evidence 22
  • Article   25.52 Right of Information 22
  • Article   25.53 Provisional and Precautionary Measures 22
  • Article   25.54 22
  • Article   25.55 Injunctions 22
  • Article   25.56 Alternative Measures 22
  • Article   25.57 Damages 22
  • Article   25.58 Legal Costs 22
  • Article   25.59 Publication of Judicial Decisions 22
  • Article   25.60 Presumption of Authorship or Ownership 22
  • Article   25.61 Administrative Procedures 22
  • Article   25.62 Border Measures 22
  • Article   25.63 Consistency with GATT and TRIPS Agreement 22
  • Section   5 Final Provisions 22
  • Article   25.64 Modalities of Cooperation 22
  • Article   25.65 Voluntary Stakeholder Initiatives 23
  • Chapter   26 TRADE AND SUSTAINABLE DEVELOPMENT 23
  • Section   1 Common Provisions 23
  • Article   26.1 Objectives 23
  • Article   26.2 Right to Regulate and Levels of Protection 23
  • Article   26.3 Trade and Responsible Business Conduct and Supply Chain Management 23
  • Article   26.4 Scientific and Technical Information 23
  • Article   26.5 Transparency and Good Regulatory Practices 23
  • Article   26.6 Public Awareness, Information, Participation and Procedural Guarantees 23
  • Article   26.7 Cooperation Activities 23
  • Section   2 Environment and Trade 23
  • Article   26.8 Objectives 23
  • Article   26.9 Multilateral Environmental Governance and Agreements 23
  • Article   26.10 Trade and Climate Change 23
  • Article   26.11 Trade and Forests 23
  • Article   26.12 Trade and Wild Flora and Fauna 23
  • Article   26.13 Trade and Biological Diversity 23
  • Article   26.14 Trade and Sustainable Management of Fisheries and Aquaculture 23
  • Section   3 Labour and Trade 24
  • Article   26.15 Labour Provisions Objectives 24
  • Article   26.16 Multilateral Labour Standards and Agreements 24
  • Article   26.18 Cooperation on Trade and Labour Issues 24
  • Section   4 Institutional Arrangements 24
  • Article   26.19 Sub-Committee on Trade and Sustainable Development and Contact Points 24
  • Article   26.20 Dispute Resolution 24
  • Article   26.21 Consultations 24
  • Article   26.22 Panel of Experts 24
  • Article   26.23 Review 24
  • Chapter   27 TRADE AND GENDER EQUALITY 24
  • Article   27.1 Context and Objectives 24
  • Article   27.2 Multilateral Agreements 24
  • Article   27.3 General Provisions 24
  • Article   27.4 Cooperation Activities 25
  • Article   27.5 Institutional Arrangements 25
  • Article   27.6 Dispute Resolution 25
  • Article   27.7 Review 25
  • Chapter   28 TRANSPARENCY 25
  • Article   28.1 Objective 25
  • Article   28.2 Definitions 25
  • Article   28.3 Publication 25
  • Article   28.5 Administrative Proceedings 1. Each Party Shall Administer In an Objective, Impartial, and Reasonable Manner All Laws, 25
  • Article   28.6 Review and Appeal 25
  • Article   28.7 Relation to other Chapters 25
  • Chapter   29 GOOD REGULATORY PRACTICES 25
  • Article   29.1 General Principles 25
  • Article   29.2 25
  • Article   29.3 Scope1. this Chapter Shall Apply to Regulatory Measures by Regulatory Authorities In Respect to 25
  • Article   29.4 Internal Coordination of Regulatory Development 25
  • Article   29.5 Transparency of the Regulatory Processes and Mechanisms 25
  • Article   29.7 Public Consultations1. When Preparing a Major’ Regulatory Measure, Each Party Shall When Applicable In 25
  • Article   29.8 Impact Assessment 25
  • Article   29.9 Retrospective Evaluation 25
  • Article   29.10 Regulatory Register 26
  • Article   29.11 Cooperation and Exchange of Information 26
  • Article   29.12 Contact Points 26
  • Article   29.13 Dispute Settlement 26
  • Chapter   Chapter X (Dispute Settlement) Shall Not Apply to this Chapter. 26
  • Chapter   30 SMALL AND MEDIUM-SIZED ENTERPRISES 26
  • Article   30.1 ObjectivesThe Parties Recognise the Importance of Small and Medium-sized Enterprises (hereinafter 26
  • Article   30.2 Information Sharing 26
  • Article   30.3 SME Contact Points 26
  • Article   30.4 Non-Application of Dispute Settlement 26
  • Chapter   31 DISPUTE SETTLEMENT 26
  • Section   1 OBJECTIVE AND SCOPE 26
  • Article   31.1 Objective 26
  • Article   31.2 Scope 26
  • Section   2 CONSULTATIONS 26
  • Article   31.3 Consultations 26
  • Section   3 PANEL PROCEDURES 26
  • Article   31.4 Initiation of Panel Procedures 26
  • Article   31.5 Establishment of a PanelA Panel Shall Be Composed of Three Panellists. 26
  • Article   31.6 Choice of Forum 26
  • Article   31.7 Lists of Panellists 26
  • Article   31.8 Requirements for PanellistsEach Panellist Shall: 26
  • Article   31.9 Functions of the PanelThe Panel: 27
  • Article   31.10 Terms of Reference 27
  • Article   31.11 Decision on Urgency 27
  • Article   31.12 Interim and Final Report 27
  • Article   31.13 Compliance Measures 27
  • Article   31.14 Reasonable Period of Time 27
  • Article   31.15 Compliance Review 27
  • Article   31.16 Temporary Remedies 27
  • Article   31.17 Review of Measures Taken to Comply after Temporary Remedies 27
  • Article   31.18 Replacement of Panellists 27
  • Article   31.19 Rules of Procedure 27
  • Article   31.20 Suspension and Termination 27
  • Article   31.21 Receipt of Information 27
  • Article   31.22 Rules of Interpretation 27
  • Article   31.23 Reports and Decisions of the Panel 27
  • Section   4 MEDIATION MECHANISM 27
  • Article   31.24 Objective 27
  • Article   31.25 Initiation of the Mediation Procedure 27
  • Article   31.26 Selection of the Mediator 27
  • Article   31.27 Rules of the Mediation Procedure 27
  • Article   31.28 ConfidentialityUnless the Parties Agree Otherwise, All Steps of the Mediation Procedure, Including Any Advice or Proposed Solution, Are Confidential. Any Party May Disclose to the Public the Fact That Mediation Is Taking Place. 27
  • Article   31.29 Relationship to Dispute Settlement Procedures1. the Mediation Procedure Is without Prejudice to the Parties’ Rights and Obligations Under Sections 2 and 3 or Under Dispute Settlement Procedures Under Any other Agreement. 27
  • Section   5 COMMON PROVISIONS 27
  • Article   31.30 Request for Information 27
  • Article   31.31 Mutually Agreed Solution 27
  • Article   31.32 Time Periods 27
  • Article   31.33 Costs 27
  • Article   31.34 Annexes 27
  • Chapter   32 EXCEPTIONS 27
  • Article   32.1 General Exceptions 27
  • Article   32.2 Security Exceptions 28
  • Article   32.3 Taxation 28
  • Article   32.4 Disclosure of Information 28
  • Article   32.5 WTO Waivers 28
  • Chapter   33 INSTITUTIONAL AND FINAL PROVISIONS 28
  • Section   SECTION a Institutional Provisions 28
  • Article   33.1 The Trade Council 28
  • Article   33.2 The Trade Committee 28
  • Article   33.3 Coordinators 28
  • Article   33.4 Sub-Committees and other Bodies 28
  • Article   33.5 Participation of Civil Society 28
  • Article   33.6 Domestic Consultative Groups 28
  • Article   33.7 Civil Society Forum 29
  • Section   SECTION B FINAL PROVISIONS 29
  • Article   33.8 Territorial Application1. this Agreement Shall Apply: 29
  • Article   33.9 Amendments1. the Parties May Agree, In Writing, to Amend this Agreement. such Amendments Shall 29
  • Article   33.10 Entry Into Force1. the Parties Shall Notify Each other of the Completion of Their Respective Internal 29
  • Article   33.11 Other Agreements 29
  • Article   33.12 Annexes, Appendices, Protocols and Notes, Footnotes and Joint Declarations 29
  • Article   33.13 Accession of New Member States to the European Union 29
  • Article   33.14 Private Rights 29
  • Article   33.15 Authentic Texts 29
  • Article   33.16 Duration 29
  • Article   33.17 Termination 29
  • Article   3. X [Local Presence - CBTS]; 29
  • Article   2.3 National Treatment INV] or 3.3 [National Treatment CBTS]; 29
  • Article   2.4 Most- Favoured- Nation- Treatment INV] [or 3.4 [Most- Favoured- Nation- Treatment [CBTS] ]; 29
  • Article   2.5 Senior Management and Boards of Directors]; or 29
  • Article   2.6 Performance Requirements].the Reservations of a Party Are without Prejudice to the Rights and Obligations of the 29
  • Chapter   Chapter/Section: Investment Liberalisation and Cross-border Trade In Services Level of Government: EU/Member State (unless Otherwise Specified) Description: (a) Type of Establishment 30
  • Chapter   Chapter/Section: Level of Government: 31
  • Article   78 Of Council Regulation (EC) No 6/2002 of 12 December 20013, 32
  • Chapter   Chapter/Section: Description: 33
  • Chapter   Chapter: Level of Government: 35
  • Chapter   Chapter: Investment Liberalisation; Cross-border Trade In Services Level of Government: EU/Member State (unless Otherwise Specified) Description: In CY: Nationality Requirement. 36
  • Chapter   Chapter: Cross-border Trade In Services 37
  • Article   5 37
  • Chapter   Chapter: Investment Liberalisation; Cross-border Trade In Services Level of Government: EU/Member State (unless Otherwise Specified) Description: (a) News and Press Agencies (CPC 962) 38
  • Chapter   Chapter: Level of Government: 38
  • Chapter   Chapter: Level of Government: 39
  • Chapter   Chapter/Section: Investment Liberalisation and Cross-border Trade In Services Description: the EU Reserves the Right to Adopt or Maintain Any Measure with Respect to the Following: 44
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 45
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 45
  • Chapter   Chapter: Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 46
  • Chapter   Chapter: Description: 46
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 47
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 47
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 48
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 48
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 48
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 48
  • Chapter   Chapter: Description: 49
  • Chapter   Chapter: Description: 50
  • Chapter   Chapter: Investment Liberalisation and Cross-border Trade In Services Description: 51
  • Article   Arts and Cultural Industries Most-Favoured-Nation Treatment (Investment and CBTS) 52
  • Section   Section B Only Contains Non-discriminatory Limitations on Market Access. Discriminatory Limitations Are Scheduled In Sections C or D. 59
  • Section   SECTION A: COMMITMENTS FOR CROSS-BORDER TRADE IN FINANCIAL SERVICES 59
  • Section   SECTION B: 60
  • Section   Section C: Existing Measures Reservation 1: Sub-sector: Insurance and Insurance-related Services 60
  • Section   SECTION D: FUTURE MEASURES FOR FINANCIAL SERVICES 61
  • Article   1 Entry and Temporary Stay-related Procedural Commitments 62
  • Article   2 62
  • Article   3 Cooperation on Return and Readmission 62