Financial Services and Preferential Trade Agreements

This book fills a large gap in the literature on trade in services. It focuses on the dynamics of trade and investment liberalisation in a sector of considerable technical and regulatory complexity - financial services. This volume chronicles the recent experiences of governments in Latin America that have successfully completed financial services negotiations through preferential trade agreements. One of the unique features of this book is the three in-depth country case studies - Chile, Colombia, and Costa Rica - all written by trade experts who led the negotiations of their respective countries in financial services. The authors offer analytical insights into the substantive content of the legal provisions governing financial market opening and the way such provisions have evolved over time and across negotiating settings. The studies describe how each of the three governments organized the conduct of negotiations in the sector, the extent of preparatory work undertaken before and during negotiations, and the negotiating road maps that were put in place to guide negotiators. Additional chapters complement the case studies by examining the evolving architecture of trade and investment disciplines in financial services and how best to prepare for negotiations in this sector.