MULTILATERAL TRADE NEGOTIATIONS

Transcription

1 MULTILATERAL TRADE NEGOTIATIONS THE URUGUAY ROUND RESTRICTED 27 September 1991 Special Distribution Group of Negotiations on Service Original: Spanish COMMUNICATION FROM VENEZUELA OF VENEZUELA CONCERNING INITIAL COMMITMENTS IN THE SERVICES NEGOTIATIONS Addendum The following communication is circulated at the request of the permanent delegation of Venezuela to the members of the Group of Negotiations on Services. As a participant in the Uruguay Round negotiations, Venezuela presents below its initial offer on trade in services. This offer is conditional and may therefore be modified or withdrawn depending on the following factors: (1) An outcome that Venezuela considers satisfactory in the current negotiations on trade in services, with regard to the Framework Agreement, the Sectoral Annexes and the offers of other parties, which should provide export opportunities of interest for Venezuelan services. (2) A global result that is satisfactory for Venezuela in the Uruguay Round, including major liberalization of goods of interest for Venezuela. (3) Technical changes in the offer and correction of possible errors, omissions or inaccuracies. (4) The enactment of any domestic legislation subsequent to the submission of this offer. (5) Any factor which, although not explicitly mentioned, the Government of Venezuela considers relevant for the modification or withdrawal of this offer. (6) The offer applies solely to the services mentioned and to the extent specified in each case. (7) The offer will enter into force at the moment when it is included in the Agreement, in accordance with whatever provisions are adopted in that regard. GATT SECRETAMAT UR

2 Page 2 Venezuela's offer is made on a status quo basis, unless otherwise indicated. This offer is subject to the application of various horizontal provisions, inter alia in the following areas: - immigration; - labour mobility; - foreign investment; - customs. (1) MODES OF DELIVERY OF SERVICES EXPLANATION OF TERMS USED Cross-border supply: this refers to a service provided the territory of one country to that of another country without movement of the suppliers or their representatives or employees. Movement of consumers: this refers to a service provided in the territory of a country to a consumer from another country because he or his representatives have moved to the territory of the first country. Commercial presence: this refers to a service provided by a supplier from one country in the territory of another country through the establishment of an entity in the latter territory. Movement of personnel: this refers to the physical movement of persons from the territory of one country to that of another country for the purpose of providing a service. 2. OTHER TERMS None: there are no limitations or conditions on market access, or no conditions or qualifications on national treatment. Not applicable: the mode of delivery of the service in question is not technically feasible. Status quo: the offer relates to the legal regime in force at the time of submission of this offer.

3 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Page 3 CONDITIONAL INITIAL OFFER CONSTRUCTION AND ENGINEERING SERVICES General construction work for buildings Cross-border supply Movement of consumers Commercial presence Movement of personnel None Not applicable SIEX (Foreign Investment & Supervision Department) and commercial registration required Provisions of the labour, immigration and customs laws and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto None Not applicable Subject to the 1990 Law on Tenders and its regulations and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto Provisions of the labour. immigration and customs laws and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto General construction work for civil engineering Cross-border supply Movement of consumers Commercial presence Movement of personnel None Not applicable SIEX and commercial registration required Provisions of the labour, immigration and customs laws and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto None Not applicable Subject to the 1990 Law on Tenders and its regulations and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto Provisions of the labour. immigration and customs laws and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto

4 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Installation Cross-border supply None None and assembly work Movement of consumers Not applicable Not applicable Connercial presence SIEX and commercial Subject to the 1990 Law on Tenders and registration required its regulations and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto Movement of personnel Provisions of the labour, Provisions of the labour, immigration immigration and customs laws and customs laws and the Law and the Law governing the governing the exercise of the exercise of the engineering, engineering, architectural and architectural and related related professions and the professions and the regulations regulations thereto thereto Building Cross-border supply None None completion and Novement of consumers Not applicable Not applicable finishing work Commercial presence SIEX and commercial Subject to the 1990 Law on Tenders and registration required its regulations and the tlow governing the exercise of the engineering, architectural and related professions and the regulations thereto Movement of personnel Provisions of the labour, Provisions of the labour, immigration immigration and customs laws and customs laws and the Law and the Law governing the governing the exercise of the exercise of the engineering, engineering, architectural and architectural and related related professions and the professions and the regulations regulations thereto thereto Page4 CONDITIONAL INITIAL OFFER CONSTRUCTION AND ENGINEERIKG SERVICES

5 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Construction Cross-border supply None None work for hotels Movement of consumers Not applicable Not applicable and tourist Infra- Conmercial presence SIEX, Corpoturismo and commercial Subject to the 1990 Law on Tenders and structure* regfstration required its regulations and the Law governing the exercise of the engineering, architectural and related professions and the regulations thereto Movement of personnel Provisions of the labour, Provisions of the labour. immigration in9igration and customs laws and and customs laws and the Law the Law governing the exercise governing the exercise of the of the engineering, architectural engineering, architectural and and related professions and related professions and the the regulations thereto regulations thereto Construction Cross-border supply None None and engineering Movement of consumers Not applicable Not applicable work for the petrileun Comnercial presence SIEX and commercial Subject to the 1990 Law on Tenders and industry registration required, as well its regulations and the Law governing as registration in the the exercise of the engineering, auxiliary registers of PDVSA and architectural and related professions its subsidiaries in the case of and the regulations thereto; also permanent presence; in the governed by the legal provisions on case of temporary presence a activities of the petroleum industry copy of the contract must be (See note **) presented to SIEX Movement of personnel Provisions of the labour Provisions of the labour, immigration immigration and customs laws and customs laws and the Law and the Law governing the governing the exercise of the exercise of the engineering, engineering, architectural and architectural and related related professions and the professions and the regulations regulations thereto thereto Page5 CONDITIONAL INITIAL OFER CONSTRUCTION AND ENGINEERING SERVICES WIt is possible to choose the special regime for the conversion of external debt into investment (Decree No. date. "partial reform of the special program for public debt conversion through large-scale projects" of 25 April 1991) and Decree No of the same ** Subject to the Law reserving the hydrocarbons industry and trade for the State (28/8/75); the Law reserving the natural gas industry for the State (26 August 1971); Decree No. 113 of 7 September 1990 (partial regulations of the common regime for the treatment of foreign capital and trade-marks, patents, licences and royalties); Decree No of 8 November 1990 (regulations governing selection procedures for contractors for PetrOleos de Venezuela SA, PDVSA, and its subsidiaries).

6 * The banking and insurance sub-sectors are not included in this initial offer on services. Those sub-sectors are currently subject to legal restrictions on the access of foreign investment. In the banking sub-sector, authorization of the establishment in Venezuela of branches of banks and other credit institutions incorporated abroad is prohibited, as is the incorporation of such institutions in Venezuela when their capital is not wholly Venezuelan-owned. Investment and banks of Latin American countries are excluded from this prohibition provided those countries grant reciprocity to Vqnezuelan capital. As far as national treatment is concerned, the branches of foreign banks currently operating in the country are subject to a special regime which imposes operating restrictions. The general regime applies only to domestic banks. As far as insurance is concerned, foreign ownership of companies is permitted only up to 20 per cent of their share-capital; there is a prohibition on the establishment in the country of agencies or branches of foreign insurance brokerage companies or representatives of agents or brokers of foreign insurance companies not domiciled or residing in the country; and fines exist for the contracting of insurance abroad by persons domiciled in the country or on goods located within the national territory. The National Government is aware that the restrictive regime summarized above is not in line with the structural adjustment programme that has beer. applied in the Venezuelan economy for the last two years to make it more open and competitive, and therefore in mid-1991 submitted to Congress a bill for the reform of the legal regime governing banking and will shortly do the same with a bill for the modification of the law governing insurance and re-insurance companies. This draft legislation is part of a comprehensive reform of tihe Venezuelan financial system and once adopted will allow the gradual elimination of barriers to access for foreign investment in banking and insurance institutions, as well as operations in Venezuela by such institutions that are wholly or partially foreign-owned, until a situation of national treatment is attained within a period of not more than 5 years. Page 6 CONDITIONAL INITIAL OFFER FINANCIAL SERVICES Financial sector* Notes:

7 Sub-sector Activity Mode of delivery Limitations and conditions Conditions and qualifications -This sub-sector is governed by the Capital Market Act, which is currently being revised. Under that law, the public offering of shares and other securities must be authorized by the National Securities Coniission, with the exception of public debt securities and securities issued in accordance with the Law of the Central Bank of Venezuela, the General Law on banks and other credit institutions and the Law on the National Savings and Loan System. Includes trading for account of customers or for own account, whether or not on an exchange. by natural persons, private comanies or public companies authorized G to that effect. Authorization of the public offering of foreign securities in Venezuela depends on whether this is in the national Interest, with the prior favourable opinion of the National Executive. Page 7 FINANCIAL SERVICES Capital Market Securities brokerage 1. Cross-border supply Subject to the Capital Market Act. Subject to the Capital Market Act. Commercial presence required. Commercial presence required. 2. Movement of consumers If the brokerage service concerns the public offering outside the national territory of securities issued by companies incorporated in Venezuela or the public offering of foreign securities in Venezuela. such offerings must be authorized*jw the National Securities Commission None 3. Commercial presence Subject to the Capital Market Act. Authorization of the National Securities Commission requir.-d None 4. Movement of personnel Provisions of the labour, immigration Provisions of the labour, and customs laws Immigration and customs laws

8 Sub-sector Activity Mode of delivery Limitations and conditions Conditions and qualifications Page 8 FINANCIAL SERVICES Capital Market Investment advisory services 1. Cross-border supply Subject to the Capital Market Act. Commercial presence required. Subject to the Capital Market Act. Commercial presence required. 2. Movement of consumers None None 3. Commercial presence Subject to the Capital Market Act. Authorization of the National Securities Commission required. In the case of advisory services relating to investment in foreign securities or for acting as a contact with foreign brokers or representing them, such authorization depends on the country's economic and financial situation in the opinion of the Commission. The National Securities Comuission can revoke or cancel authorizations relating to advisory services for investment in foreign securities or for acting as a contact with brokers abroad or representing them when in its opinion the country's economic and financial conditions are unsuitable for such activities. 4. Movement of personnel Provisions of the labour, immigration and customs laws Provisions of the labour, immigration and customs laws

9 Sub-sector Activity Mode of delivery Limitations and conditions Conditions and qualifications Page 9 FINANCIAL SERVICES Capital Market Mutual funds 1. Cross-border supply Subject to the Capital Market Act. Subject to the Capital Market Act. Commrcial presence required Comimercial presence required 2. Movement of consumers None None 3. Commercial presence Subject to the Capital Market Act. Authorization of the National Securities Commission required None 4. Movement of personnel Provisions of the labour. immigration Provisions of the labour, immigration and customs laws and customs laws

10 Sub-sector Activity Mode of delivery Limitations and conditions Conditions and qualifications Page 10 FINANCIAL SERVICES Capital Market Mutual fund 1. Cross-border supply Subject to the Capital Market Act. Subject to the Capital Market Act. management companies Conmercial presence required Caunercial presence required 2. Movement of consumers None None 3. Commercial presence Subject to the Capital Market Act. Authorization of the National Securities Commission required None 4. Movement of personnel Provisions of the labour, immigration Provisions of the labour, immigration and customs laws and customs laws

11 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Travel agencies. I. Cross-border supply 1. None 1. None tourism companies wholesale tourism 2. Movement of consumers 2. None 2. Not applicable services 3. Commercial presence 3. Must register with the 3. None Commercial Registration Office and the Foreign Investment Supervision Department (SIEX). Authorization and registration by Corpoturismo as supervisory body 4. Movement of personnel 4. Provisions of the labour, 4. Provisions of the labour, immigration and customs laws immigration and customs laws Hotel operators, 1. Cross-border supply 1. None 1. None including * restaurants 2. Movement of consumers 2. Not applicable 2. Not applicable 3. Commercial presence 3. Must register with the 3. None Commercial Registration Office and the Foreign Investment Supervision Department (SIEX). Authorization and registration by Corpoturismo as supervisory body 4. Movement of personnel 4. Provisions of the labour, 4. Provisions of the labour, immigration and customs laws immigration and customs laws Page11 TOURISM SERVICES * Subject to the regime for the conversion of external debt into investment under Decree No of 15 Noverrter 1990

12 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Operators of 1. Cross-border supply 1. None i. None resort hotels, including * 2. Movement of consumers 2. None 2. Not applicable restaurants 3. Commercial presence 3. Must register with the 3. None Commercial Registration Office and the Foreign Investment Supervision Department (SIEX). Authorization and registration by Corpoturismo as supervisory body 4. Movement of personnel 4. Provisions of the labour. 4. Provisions of the labour, immigration and customs laws immigration and customs laws Page12 TOURISM SERVICES Hotel camps 1. Cross-border supply 1 None 1. None 2. Movement of consumers 2. None 2. Not applicable 3. Commercial presence 3. Must register with the 3. None Commercial Registration Office and the Foreign Investment Supervision Department (SIEX). Authorization and registration by Corpoturismo as supervisory body 4. Movement of personnel 4. Foreigners with at least 4. Provisions of the labour, five years' uninterrupted immigration and customs laws residence in the country may manage or operate camps as directors or managers. Provisions of the labour. immigration and custom's laws. *Subject to the r~gime for the conversion of external debt into Investment under Decree No of 15 November 1990 Subject to the regime for the conversion of external debt into investment under Decree Ho of 15 Novenier 1990

13 Sub-sector Mode of delivery Limitations and conditions Conditions and qualifications Auxiliary tourism 1. Cross-border supply 1. None 1. None enterprises 2. Movement of consumers 2. Not applicable 2. Not applicable 3. Commercial presence 3. Must register with the 3. None Commercial Registration Office and the Foreign Investment Supervision Department (SIEX). Authorization and registration by Corpoturlsmo as supervisory body 4. Movmment of personnel 4. Provisions of the labour, 4. Provisions of the labour, immigration and customs laws immigration and customs laws Page 13 TOURISM SERVICES