ABSTRACT
The ASEAN Framework Agreement on Services (AFAS) is an agreement governing the progressive liberalisation of trade in services in ASEAN and it was signed on December 15, 1995 in Bangkok at the Fifth ASEAN Summit. This chapter examines the provisions of this, important agreement and to compare it with the provisions of other services agreements, especially the Gats. It requires member States to enter negotiations on measures affecting trade in specific service sectors with the aim of achieving commitments beyond those undertaken in the Gats schedule. Whether the degree of liberalisation under the AFAS will be significant in future given the need to meet up with the pressure at various other forums like the APEC and the Gats, is one that remains to be seen. The current economic woes and currency crisis that is beleaguering the ASEAN nations may have an impact on the liberalisation process. The chapter concludes with the liberalisation developments and the future of the Agreement.
