Liberalisation of Banking Services Under the Framework of Asean Economic Community: an Indonesian Perspective

Among the ASEAN members, compared to other Indonesia is relatively more liberal in opening up international trade financial services, especially banking sector. Through its submission of CIO WTO 2005, some degree offered certain liberalization sector, together with services governed under GATS. On hand, members show their carefulness liberalizing sectors. As consequence, on one hand foreign banks have occupied nearly 50% Indonesian industry, and there are only a few units from Indonesia’s domestic that present neighbours, hand. Using normative method, this research elaborates how should strike balanced stand between over-liberalized sector reluctance while maintaining GATS principle “progressive development.” The authors concludes ways for flip odds be favour by urging implementation reciprocity ASEAN, which additionally, will also stimulate liberalisation schedule latter.