The agreement also provides that, as part of the integration process, all members will take the necessary steps in the textile and clothing sector to comply with GATT rules and disciplines, to improve market access, to ensure the implementation of policies under fair and fair trade conditions, and to avoid discrimination against imports when taking action on general trade policy grounds. The agreement recognizes that some investment measures limit and distort trade. It provides that no contracting party applies a TRIM incompatible with Articles III (domestic treatment) and XI (prohibition of quantitative restrictions) of the GATT. To this end, the agreement is accompanied by a clear list of TRIMs incompatible with these articles. The list contains measures that require a certain level of local supply by a company (“local content requirements”) or that limit the volume or value of imports that buy or limit such a business to the level of products it exports (“commercial clearing requirements”). The first annex of the agreement concerns the free movement of workers. It allows the parties to negotiate specific commitments applicable to the transport of persons providing services under the agreement. It requires that persons under a special obligation be given the opportunity to provide the service under the terms of the obligation. However, the agreement would not apply to measures relating to employment, nationality, residence or employment.
The Financial Services Annex (mainly banks and insurance) defines the right of parties to take prudential measures, including to protect investors, deposit holders and policyholders, regardless of other provisions, and to ensure the integrity and stability of the financial system. A better understanding of financial services would allow participants who choose to make commitments in the financial services sector on another method. With regard to market access, understanding includes more detailed obligations, including monopoly rights, cross-border trade (certain insurance and reinsurance policies, processing and transmission of financial data), the right to create or develop a commercial presence and the temporary entry of staff. The national treatment provisions explicitly address access to payments and clearing systems managed by public bodies, as well as public financing and refinancing facilities. They also relate to membership or participation in self-regulatory bodies, stock exchanges or futures exchanges and clearing houses. The Far East is essentially a net importer of agricultural products. Only two countries in the region are considered the least developed and only a minority of countries in the region are WTO members.