Argentina – Financial Services: will the AB’s reasoning finally shed light on the “Likeness” analysis under the GATS?

In the recent case Argentina – Financial Services the Appellate Body (“AB”) established, for the very first time in the history of the WTO disputes settlement, the examination of the “likeness” under the General Agreement on Trade in Services (“GATS”). In particular, the dispositions at issue were Art. II:1 and Article XVII:1 of the GATS, respectively the Most-Favoured-Nation Treatment, and the National Treatment. Needless to say, the concept of “likeness” under the GATS has been explored by WTO panels, but without successfully achieving consistent interpretations. Will the AB’s reasoning in Argentina – Financial Services clarify the meaning of “likeness” under the GATS?Read More »