communication from CANADA

Canada’s proposal - Thematic Seminar
Financial Services: Trade, Inclusion and Accessibility

The following communication, dated 3 October 2022, is being circulated to Members of the Committee on Trade in Financial Services, at the request of the delegation of Canada.

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1.  Socio-economic inclusion and accessibility are important issues at the forefront of WTO efforts to pursue better trade outcomes for every Member. Given the importance of financial services, both as an economic sector in its own right and a key intermediary for economic activity around the world, it is important to better understand some of the sector-specific implications of these issues. Accordingly, Canada is proposing that the Committee on Trade in Financial services agree to hold a thematic seminar to discuss the opportunities and challenges with addressing these issues in the unique regulatory context of the financial services sector.

2.  The Committee has a mandate to serve as a forum for technical discussions and examination of regulatory developments affecting financial services trade. In line with this mandate, Canada believes that the Committee would be a good place to discuss the growing impacts of financial services trade on inclusivity and equality for under-represented groups and on facilitating trade accessibility. We are confident that Members would stand to benefit from deepening the discussion on the financial services aspects of these policy issues.

3.  A draft agenda for the proposed seminar, “Financial Services: Trade, Inclusion and Accessibility”, is attached to this communication. The presentations discussed in the Annex would be made by national regulators of interested Members, private sector representatives of banking and insurance services, academics and officials from relevant international organizations.

4.  We eagerly await the opportunity to work with the Secretariat and other Members in order to develop a meeting of interest and utility to all Members.