Financial services liberalization in the WTO and PTAs

The financial services sector has been going through a dramatic process of change for the last two decades. Technological change, deregulation, and the opening up of financial systems to international competition, amongst other factors, have reshaped the financial landscape for ever. Against this background, trade in financial services (understood as both cross-border financial transactions and the establishment of premises abroad) has expanded at a rapid pace, prompting a deeper integration of markets worldwide.