ICC Document & publication

The liberalization of trade in insurance services

ICC recognizes that the 1997 Financial Services Agreement was an important first step in achieving trade liberalization and market access in financial services.

The Doha Development Agenda provides a unique opportunity for further insurance market liberalization among WTO members. The arguments in favour of the elimination of restraints on foreign participation in financial services have been well rehearsed and the economic benefits of market access in both developed and developing economies are recognized. Insurance liberalization, successfully managed, will help to attract foreign insurers┬┤ direct investment and drive development in insurance services, in turn spurring sustainable overall economic development and financial security and thus contributing to combat poverty. The Doha Development Agenda negotiations should be seen as an opportunity to build on past achievements.

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The International Chamber of Commerce has launched Incoterms® 2020, an update of the renowned regulations that define the responsibilities of buyers and sellers operating in the international trade system.

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