Services and their implications in relation to the draft protocol on clearing and payments arrangements of the proposed treaty for the establishment of a preferential trade area for Eastern and Southern African States

Abstract

It will be recalled, that the exact scope of the definition of "Services" for the purpose of the proposed clearing and payments arrangements was discussed at length during the Joint meeting of the Lusaka Council of Ministers and the Extraordinary Conference of Ministers of Trade, Finance and Planning held in Maseru, Lesotho from 19-22 January 1581. The purpose of this memorandum is to: (a) elaborate on the exact content of the term ''services" in the context of the proposed Clearing and Payments .Arrangements; (b) Review the situation of intra-sub regional payments in respect of trade related services; (c) Analyze the implications of excluding transport and transit trade services from the definition of ''services" and (d) Recommend a broad, system of clearing and payments that would allow for bilateral consultations.