Under the World Trade Organisations's General Agreement on Trade in Services, negotiations were completed on 15 February 1997 on the market access arrangements to apply in respect of trade in telecommunications services and on regulatory principles to underpin these market access commitments. The results of the negotiations take the form of the Fourth Portocol to the General Agreement on Trade in Services, to which are attached the commitments undertaken by about 70 countries accounting for over 90 per cent of the current world market in telecommunications services. The Protocol is open for acceptance in the period up to 30 November 1997 and is to enter into force on 1 January 1998. The European Commission is expected to make a proposal to the EU Council of Ministers in the next few weeks on acceptance-ratification. The ratification procedure in member states, including Ireland, will be carried out in tandem with the EU procedure. Instruments of acceptance-ratification will be deposited with the World Trade Organisation in Geneva, Switzerland.
An agreement between Ireland and the Republic of Latvia for the promotion and reciprocal protection of investments was initialled in October 1996 at official level subject to clearance of the text by both countries' legal and financial experts prior to approval by Government. Outstanding legal issues have been resolved and it is intended, subject to the agreement of the Department of Finance to the text, to seek the formal approval of the Government to sign. The agreement is being concluded on a bilateral basis and does not arise under the specific auspices of any international organisation.
