. /.WORLD TRADE
ORGANIZATIONS/C/N/137
6 October 2000
(00-4091)
Council for Trade in Services Original:  French
NOTIFICATION PURSUANT TO ARTICLE III:3 OF THE
GENERAL AGREEMENT ON TRADE IN SERVICES
The following notification has been received from the delegation of Madagascar.
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1. Member notifying:
Madagascar
2. Notification under article:
Article III, paragraph 3 of the General Agreement on Trade in Services
3. Date of entry into force:
(i) Decree No. 95-082 of 24 January 1995 on the regulation of foreign currency accounts
entered into force on 13 June 1995 on the date of the Order establishing the
modalities for its implementation.
(ii) Order No. 10.411/96-SSOC of 30 December 1996 amending certain provisions of the
above-mentioned implementation order entered into force on the date of its signature.
Duration:
Indefinite
4. Agency responsible for the implementation and enforcement of the measure:
Ministry of Finance
Central Bank of Madagascar
5. Description of the measures:
(i) Mode of supply covered by the measure:  commercial presence
(ii) Effects on trade in services
The Decree of 24 January 1995 authorizes all persons, natural or legal, to open a
foreign currency account in the local banks, and all exporters to receive in their
foreign currency accounts part of their export revenue, the balance of which must beS/C/N/137
Page 2
surrendered to the inter-bank foreign exchange market within the time-periods
established in an order of the Ministry of Finance.
The same Decree also authorizes all foreign currency account-holders to engage
freely in exchange transactions, settlements, transfers or arbitrage and to makewithdrawals in the form of bank cheques or traveller's cheques.
The Order of 30 December 1996 abolishes the obligation to surrender the balance of
export revenue to the inter-bank foreign exchange market while maintaining the
obligation to repatriate foreign currency.
This increased flexibility, which follows on Madagascar's accession to IMF
Article VIII, aims to encourage economic operators and to reinforce the other
economic liberalization measures.
6. Members affected:
None
7. The texts are available from:
Ministère du commerce et de la consommation
B.P. 454 Antananarivo 101
Telephone: (261-20) 22 261 40
(261-20) 22 207 58
Fax: (261-20) 22 264 26
(261-20) 22 312 80
Banque centrale de Madagascar
(Direction des services étrangers et de la dette extérieure)
B.P. 550 Antananarivo 101
Telephone: (261-20) 22 217 51
(261-20) 22 217 52
(261-20) 22 234 65
Telex: 22 329 BACEREMATANA
Fax: (261-20) 22 345 32
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