Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-05-16-Speech-2-306"
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"en.20060516.36.2-306"2
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".
Let me assure you that the Commission is well aware of the significant economic potential of commercial services, including financial services. This is an important part of the WTO negotiations and it has not been ignored, even if it has received less publicity than other parts.
The Commission has highlighted the importance of access to finance in developing countries on many occasions, for example in a communication that it co-sponsored last year in the WTO.
Financial services are clearly one of the European Commission’s priorities in the services negotiations and, therefore, figure prominently in the European Commission’s bilateral services requests. Furthermore, the European Community was one of the co-sponsors of the recently tabled financial services plurilateral request and is particularly active in plurilateral and bilateral negotiations with our trading partners in Geneva.
Unfortunately, the offers in financial services on the table so far are mostly disappointing. This applies particularly to many countries in Asia. Certain ASEAN members, with very low existing commitments, have not made any financial services offers and larger players, such as China and particularly India, also have room to improve their offers.
In short, most of our main requests in financial services have not been addressed by our trading partners. That is why the Commission will continue to press very hard and at all levels to convince our trading partners of the need to correct the situation by submitting substantially revised offers in July this year."@en1
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