Honduras wt/tpr/S/120 Page
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servicesMain featuresIn 2001, the services sector (excluding electricity, but including construction) accounted for around 54 per cent of GDP. The main services subsectors in terms of share of total value-added in 2001 were, in decreasing order of importance: trade, restaurants and hotels; personal services; and financial services (Table I.1). Honduras' Schedule of Specific Commitments under the WTO General Agreement on Trade in Services (GATS) is limited and includes commitments on only four of the 12 services categories (Table IV.7).26 As regards horizontal commitments, Honduras established a series of limitations on foreign investment such as giving due consideration, when authorizing the establishment of a foreign enterprise, to the impact of its commercial presence on local economic activity and employment. The Schedule also stipulates that foreign investors may not engage in small-scale industry and trade and that, through their commercial presence, foreign enterprises must contribute to the training of Honduran personnel in their respective areas of expertise. In addition, the Schedule sets a ceiling of 10 per cent for the number of foreign workers in an enterprise, who may not receive more than 15 per cent of total wages paid. Lastly, it establishes a territorial limitation on foreign investment, stipulating that land situated in certain sensitive areas such as border or coastal areas may belong only to companies consisting wholly of partners of Honduran origin (whether by birth or by naturalization) or to State institutions. Honduras' List of MFN Exemptions includes exemptions for the progressive integration of services of different kinds in all sectors, benefiting countries that belong to the Central American Common Market (CACM). It also contains exemptions in respect of specific sectors. Thus, in the area of financial services, Honduras provides MFN exemptions in favour of CACM countries for the free transfer of capital and facilities for the establishment and operation of banks, insurance companies and other financial entities. Also concerning financial services, Honduras included a general exemption regarding the opening of agencies or branches of foreign banks, which may be subject to reciprocity requirements.27 The List establishes further exemptions in respect of telecommunications services in order to promote the regional integration of its telecommunications system, of professional services and land transport services, providing discretion to issue licences on the basis of reciprocity. Table IV.7 Summary of Honduras' GATS commitmentsa
a The only authentic source of information on the above commitments is Honduras' Schedule of Specific Commitments, as contained in WTO documents GATS/SC/38 of 15 April 1994 and GATS/SC/38/Suppl.1 of 11 April 1997. b Applicable only to services included in Honduras' Schedule. c Not applicable to all subdivisions in the services category (for further details, see Honduras' Schedule). Source: WTO Secretariat. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||