Canada-Panama Free Trade Agreement

Annex ii

Reservations for Future Measures

  • 1. The Schedule of a Party sets out, under Articles 9.08 (Investment - Reservations and Exceptions) and 10.07 (Cross-Border Trade in Services - Reservations), the reservations taken by that Party for specific sectors, sub-sectors or activities for which it may maintain existing, or adopt new or more restrictive, measures that do not conform with obligations imposed by:
    • a. Article 9.04 (Investment - National Treatment) or 10.03 (Cross-Border Trade in Services - National Treatment);
    • b. Article 9.05 (Investment - Most-Favoured-Nation Treatment) or 10.04 (Cross-Border Trade in Services - Most-Favoured-Nation Treatment);
    • c. Article 10.06 (Cross-Border Trade in Services - Local Presence);
    • d. Article 9.07 (Investment - Performance Requirements);
    • e. Article 9.08 (Investment - Senior Management and Boards of Directors); or
    • f. Article 10.05 (Cross-Border Trade in Services - Market Access).
  • 2. Each reservation sets out the following elements:
    • a. Sector refers to the general sector in which the reservation is taken;
    • b. Sub-Sector refers to the specific sector in which the reservation is taken;
    • c. Industry Classification refers, where applicable, to the activity covered by the reservation according to domestic industry classification codes;
    • d. Type of Reservation specifies the obligation referred to in paragraph 1 for which a reservation is taken;
    • e. Description sets out the scope of the sector, sub-sector or activities covered by the reservation;
    • f. Existing Measure identifies, for transparency purposes, an existing measure applying to the sector, sub-sector or activities covered by the reservation.
  • 3. In interpreting a reservation, all elements of the reservation are considered with the exception of Industry Classification. The Description element prevails over all other elements.
  • 4. For purposes of this Annex:

CPC means Central Product Classification (CPC) numbers as set out in Statistical Office of the United Nations, Statistical Papers, Series M, No. 77, Provisional Central Product Classification, 1991; and

SIC means Standard Industrial Classification (SIC) numbers as set out in Statistics Canada, Standard Industrial Classification, fourth edition, 1980.