The ASEAN Trade in Services Agreement (ATISA) is a regional trade agreement that seeks to promote economic integration and facilitate the flow of services between the member states of the Association of Southeast Asian Nations (ASEAN). The agreement aims to create a more open and competitive services market in the region by reducing barriers to trade and investment.
ATISA was signed in 2018 by the ASEAN member states, which include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The agreement covers a wide range of services, including professional services, telecommunications, financial services, tourism, and transport.
One of the main objectives of ATISA is to create a more liberalized services market in ASEAN by removing restrictions on foreign investment and participation in the services sector. This would allow service providers from other ASEAN countries to compete on a level playing field with domestic providers, creating new opportunities for businesses and consumers alike.
To achieve this objective, ATISA includes provisions that require member states to open up their service sectors to foreign investment and to provide a more transparent and predictable regulatory environment for services. This can help to create a more level playing field for service providers in the region, reducing the risk of protectionism and promoting competition.
Another important objective of ATISA is to promote the development of regional supply chains and the integration of services into those chains. This can help to boost intra-regional trade and investment and promote economic growth and development in the region.
The agreement also includes provisions to promote cooperation and dialogue between the member states on issues related to trade in services. This can help to foster greater understanding between the countries and facilitate the resolution of trade disputes and other issues that may arise in the course of trade.
Overall, ATISA represents an important step forward for economic integration and cooperation in ASEAN. By promoting greater openness and competition in the region`s services market, the agreement has the potential to create new opportunities for businesses and consumers alike, while also supporting economic growth and development in the region.