RESTRICTED  WORLD TRADE  
ORGANIZATION  TN/S/O/HND/Rev.1 
27 September 2005 
 (05-4272) 
Trade in Services  
  
 
HONDURAS 
 
Conditional Revised Offer
 
  
 The following revised offer was received from the delegation of Honduras on 31 August 2005 
with the request that it be circulated to th e Members of the Council for Trade in Services. 
 
_______________ 
 
 
 Under paragraphs 47 and 49 of the Doha Mi nisterial Declaration, Honduras submits its 
revised offer solely for the purpose of negotiation a nd not as a legal text, especially in light of the 
need to ensure overall balance in the outcome of  all WTO negotiations.  This revised offer is 
conditional and the Republic of H onduras may therefore modify or withdraw it at any time during the 
course of the negotiations. 
 
The contents of this revised offer should be understood as subject to any horizontal 
disciplines agreed upon in the framework of the ongoing negotiations of the Working Party on GATS Rules and the Working Party on Domestic Regulation and may therefore be revised on the basis of the 
outcome of these negotiations. 
 
The Republic of Honduras is submitting this re vised offer as proof of its commitment to 
making a contribution to the progressive liberalization of trade in services, with the aim of meeting its 
economic development objectives and achieving in creasing participation in trade in services. 
  
 TN/S/O/HND/Rev.1 
Page 2 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
I. HORIZONTAL COMMITMENTS  
ALL SECTORS INCLUDED IN 
THIS SCHEDULE    
 (3) Authorization to establish a commercial 
presence may take into account the following criteria: 
 The effect of the commercial presence on national or local economic activity, its impact on employment, productivity, technological 
development, competition and market stability;  
and its impact on the environment.
 (3) The commercial presence of foreign enterprises 
must contribute to the training of Honduran personnel in the specialized fields of activity 
concerned.
  
  Foreign investors may not engage in small-scale industry and commerce.
   
  A 40 km belt is reserved for companies 
consisting wholly of Honduran partners, 
Hondurans by birth or State institutions for land 
situated in border areas or along both coastlines as well as islands, keys, reefs, breakwaters, 
rocks, and sand banks.
   
 (4) Unbound, except for measures affecting the 
entry and temporary stay of senior and 
specialized personnel, associated with a commercial presence. 
The supply of services by suppliers not resident 
in Honduras must contribute to the training of 
Honduran personnel in the specialized fields of 
activity concerned.  
The supply of services by suppliers not resident 
in Honduras must contribute to the training of 
Honduran personnel in the specialized fields of 
activity concerned. 
 (4) Unbound, except for measures related to the 
categories of natural persons indicated in the 
column on market access. 
 In order to obtain the necessary work permit, 
foreigners must be resident in Honduras. 
The supply of services by suppliers not resident 
in Honduras must contribute to the training of 
Honduran personnel in the specialized fields of 
activity concerned. 
   
  TN/S/O/HND/Rev.1
 Page 3Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
 A ceiling of 10 per cent is established for the 
number of foreign workers in an enterprise who may not receive more than 15 per cent of total 
wages paid.   
 The percentages referred to above do not 
apply to company managers, directors, 
administrators, supervisors or general 
executives, provided that there are not more 
than two (2) in each enterprise.  
Managers and  supervisors of the enterprise 
must speak Spanish.  
A limit of 10  per cent is established on the total 
number of foreigners affiliated to trade unions, 
and no foreign er may be a member of the 
governing body of a trade union.  
  
 
 
 
Managers and supervisors of the enterprise must speak 
Spanish. 
A limit of 10 per cent is established on the total number 
of foreigners affiliated to trade unions, and no 
foreigner may be a member of the governing body of a 
trade union .   
 TN/S/O/HND/Rev.1 
Page 4 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
II. SECTOR-SPECIFIC COMMITMENTS  
1. BUSINESS SERVICES 
B. Computer and related 
services  
Consultancy services 
related to computers and 
data processing (CPC 84100-84390) 
(includes software 
implementation services, 
systems analysis, data 
processing, time-sharing, data preparation)  
 
 
(1) None 
(2) None 
(3) None (4) Unbound  
 
 
(1) None 
(2) None 
(3) None (4) Unbound  
Software development 
(CPC 8420) (includes programming services) (1) None 
(2) None (3) None 
(4) Unbound (1) None 
(2) None (3) None 
(4) Unbound  
F. Other business services  
 Advertising services 
(CPC 87120) (includes 
planning, creating and placement services of 
advertising)
  
(1) Unbound 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
section. 
  
(1) Unbound 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
section.   
  TN/S/O/HND/Rev.1
 Page 5Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
2. COMMUNICATION 
SERVICES 
C. Telecommunication 
services  
 All subsectors   
 
(1) (2) (3) Foreign governments may not participate 
directly in the supply of public 
telecommunication services. 
(3) With the exception of the State of Honduras, 
no operator or any of its partners with at least 
a 10 per cent share or any affiliated company, subsidiary or individual belonging to the same 
economic group as the above may hold either 
a direct or an indirect share of more than 10 per cent of the capital of a company 
authorized to supply the aforementioned 
services.  Data transmission services are exempt from this measure.
  
 
(1) (2) (3) To request the relevant authorization, 
foreign companies must establish domicile in 
Honduras and appoint a legal representative 
who is also domiciled there.  
 
Honduras adopts the 
obligations contained in 
the Reference Paper annexed to this Initial 
Offer. 
 (1) (2) (3) The practice of call-back using telephone 
services supplied within the national territory 
but which systematically originate from outside the country as a direct result of 
incomplete international calls from within the 
national territory is forbidden.   
(a) Local and domestic 
long-distance telephone services
 (1) Unbound (2) None (3) The Honduran Telecommunications Company 
(HONDUTEL) has exclus ive rights for the 
supply of these services and the management and routing of international long-distance calls 
until 25 December 2005.  Prior to this date, 
third parties may only supply public telephone services under commerc ial contracts with 
HONDUTEL, acting as sub-operators.  After 
this date:  None.  
(4) Unbound, except as indicated in the horizontal 
section. (1) Unbound 
(2) None (3) None 
 
  
 
  
 
 (4) Unbound, except as indicated in the horizontal 
section.    
 TN/S/O/HND/Rev.1 
Page 6 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
(a) International telephone 
services (1) The management and establishment of 
international long-distance calls will be handled exclusively through the HONDUTEL 
infrastructure until 25 December 2005. After 
this date, management and routing will be open to companies authorized by the relevant 
authority. 
(2) None (3) HONDUTEL has exclusive rights for the 
management and routing of international long-
distance calls until 25 December 2005.  After this date: None. 
(4) Unbound, except as indicated in the horizontal 
section.
 (1) Unbound 
 
 
  
 
 
(2) None 
(3) None 
 
  
(4) Unbound, except as indicated in the horizontal 
section.  
(a) Public telephone 
services  (1) Unbound (2) None 
(3) The Honduran Telecommunications Company 
(HONDUTEL) has exclus ive rights for the 
supply of these se rvices and for the 
management and routing of international long-distance calls until 25 December 2005.  Prior 
to this date, third parties may only supply 
these services under commercial contracts with HONDUTEL, acting as sub-operators.  
After this date:  None. 
(4) Unbound, except as indicated in the horizontal 
section. (1) Unbound 
(2) None 
(3) None  
 
  
 
 
 
 
(4) Unbound, except as indicated in the horizontal 
section.  
(b) and (c) Data transmission 
services (1) Unbound 
(2) None (3) None. 
(4) Unbound, except as indicated in the horizontal 
section. (1) Unbound 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section.   
  TN/S/O/HND/Rev.1
 Page 7Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
(d) and (e) Telex and telegraph  (1) Unbound 
(2) None (3) HONDUTEL has exclusive rights for the 
supply of these services until 
25 December 2005.  Prior to this date, third parties may only supply telex and telegraph 
services under commerc ial contracts with 
HONDUTEL, acting as sub-operators.  After this date:  None. 
(4) Unbound, except as indicated in the horizontal 
section.
 (1) Unbound (2) None (3) None 
 
  
 
  
(4) Unbound, except as indicated in the horizontal 
section.  
(g) Leased circuit services 
(carrier services1) (1) Unbound 
(2) None 
(3) HONDUTEL has exclusive rights for the 
supply of these services until 25 December 2005. Prior to this date, third 
parties may only supply local and domestic 
leased circuit services under commercial contracts with HONDUTEL, acting as 
sub-operators.  Afte r this date: None. 
(4) Unbound, except as indicated in the horizontal 
section. (1) Unbound 
(2) None 
(3) None 
  
 
  
 
(4) Unbound, except as indicated in the horizontal 
section.  
Other: 
 
Mobile phone services: 
Mobile telephone services:2 
- Cellular mobile telephone 
services 
- Personal communications 
services (PCS) (1) Unbound 
(2) None 
(3) No operator or any of its partners with a 10 per 
cent share or any affiliate d company, subsidiary 
or individual belonging to the same economic 
group as the above may participate under 
agreements of any kind in the administration of a company authorized to supply mobile 
telephone services in Honduras. 
  (1) Unbound 
(2) None 
(3) None 
  
 
  
 
   
                                                      
1 Carrier services are services which prov ide only the necessary capacity  for the transmission of telecommunications signals bet ween two or more specified points on 
the telecommunications network. 
2 Does not include Global Mobile Pers onal Communications Service (GMPCS). 
  
 TN/S/O/HND/Rev.1 
Page 8 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
 New mobile telephone ope rators will not be 
authorized to begin operating before December 2005. 
 The management and establishment of 
international long-distance calls will be handled exclusively through the 
HONDUTEL infrastructure until 
25 December 2005.  After this date:  None. 
(4) Unbound, except as indicated in the 
horizontal section. 
  
  
 
  
 
 (4) Unbound, except as indicated in the horizontal 
section. 
  
  TN/S/O/HND/Rev.1
 Page 9Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
7. FINANCIAL SERVICES 
A. All Insurance and 
Insurance-related services  
Life insurance 
(CPC 81211) 
General insurance 
(CPC 81291-81299) 
(includes: sickness, accident, disaster, vehicle 
and freight, civil liability 
and professional risks, credit and transport, and 
other insurance services)  
(1) Unbound 
(2) Unbound 
(3) The operation of insurance institutions  The 
establishment of insurance institutions is 
subject to approval by the Central Bank of 
Honduras (BCH), on the recommendation of 
the National Banking and Insurance 
Commission (CNBS),  in accordance with 
general and local economic conditions and 
requirements. 
 This approval will take into consideration, inter 
alia, a market survey showing that the current 
and future conditions of the insurance market permit the satisfactory operation of the 
company to be set up. This survey must be 
based on analysis of the principal economic and financial variables of the insurance system in 
Honduras or any other model demonstrating the 
economic feasibility of the institution to be set 
up.  
(1) Unbound 
(2) Unbound 
(3) None  
Reinsurance  Only public limited companies with share 
capital divided into registered shares  and 
mutual companies may engage in insurance 
activities.  In the case of public limited 
companies with share cap ital, the shares must 
be registered and at least 60 per cent of the 
share capital must belong to Honduran 
nationals.    
 Branches of foreign insurance institutions 
must have at least one (1) representative 
domiciled in Honduras, who must have the 
requisite authorization to operate in 
Honduras and to carry out and be liable for 
the branch's transactions. 
(4) Unbound  
  
 
  
(4) Unbound   
 TN/S/O/HND/Rev.1 
Page 10 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
Services auxiliary to 
insurance (CPC 81402-81409) 
(including insurance and 
pensions advisers, settlement of damages, actuarial 
services, management of 
salvage operations, and other auxiliary services) (1) Unbound 
(2) Unbound (3) None 
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) Unbound (3) None 
(4) Unbound, except as indicated in the horizontal 
section.   
Broking and agency 
services 
(CPC 81401)  (1) Unbound 
(2) Unbound 
(3) None 
 
 
  
(4) Unbound, except as indicated in the 
horizontal section.  (1) Unbound 
(2) Unbound 
(3) To operate as a dependent insurance agent, 
independent insurance agent or insurance 
broker, a person must be Honduran or have 
been legally resident in Honduras for more 
than three (3) consecutive years. 
(4) Unbound, except as indicated in the 
horizontal section. 
To operate as a dependent insurance agent, 
independent insurance agent or insurance 
broker, a person must be Honduran or have 
been legally resident in Honduras for more 
than three consecutive years.   
B. Banking services  
Deposit taking 
(CPC 81116 and 81119) (Only sight deposits, savings 
deposits and term deposits in 
local and foreign currency) 
  
(1) Unbound 
(2) Unbound   
(1) Unbound 
(2) Unbound    
  TN/S/O/HND/Rev.1
 Page 11Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
Granting of loans 
(CPC 81132) (Only loans in local and foreign currency) 
(Excluding mortgages) 
Factoring operations (3) The establishment of financial institutions is 
subject to approval by the Central Bank of 
Honduras following a recommendation by the 
National Banking and Insurance Commission  
authorization by the National Banking and 
Insurance Commission, on the 
recommendation of the Central Bank  of 
Honduras  in the light of the country's 
economic circumstances and needs. Approval is 
conditional upon, inter alia, a market survey 
showing that present and prospective supply and demand in respect of financial services 
warrant the entry of a new institution into the 
market.  The foregoing must be based on an analysis of the principal economic and financial 
variables contained in the national accounts, 
statistics and basic indicators of the real and financial sectors of the domestic economy, 
without prejudice to the submission and 
explanation of theoretical models that 
reasonably provide such a demonstration. (3) None, except that th e branches of foreign 
financial institutions must domicile a minimum amount of capital in Honduras.  
Issue, acceptance, 
negotiation and confirmation of credit cards and 
documentary credit  Foreign financial institutions may operate in 
Honduras through legally established branches 
authorized by the National Banking and 
Insurance Commission, on the 
recommendation of the Central Bank  of 
Honduras  through the establishment of 
agencies .  Unbound with regard to the opening 
of branches of foreign banks. 
 The agencies of foreign financial institutions 
may not accept funds in the national territory   
  All financial institutions must be established as 
a public limited company with share capital, 
which must be divided into ordinary  registered 
shares. 
 The founding partners of financial institutions 
may be only natural or legal  persons.    
 TN/S/O/HND/Rev.1 
Page 12 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
  Financial institutions may only carry out the 
operations they are specifically authorized to undertake. 
 The operation, functioning, service and issue of 
a new financial product di rectly related to the 
professional exercise of banking and credit are 
subject to approval by the National Banking 
and Insurance Commission. 
 Finance companies (other than banks and 
savings and loan associations) may undertake 
the operations authorized subject to the amounts determined by the National Banking 
and Insurance Commission. 
 Branches of foreign banks  foreign financial 
institutions  must have at least two (2) 
representatives domiciled in Honduras.  These 
must have the requisite authorization to act in Honduras and to carry out and assume 
responsibility for the operations of the branch. 
 Authorization is required from the Central 
Bank of Honduras  for granting credits to 
natural or legal persons domiciled abroad to be 
used outside Honduras .   
 (4) Unbound, except as indicated in the horizontal 
section. (4) Unbound, except as indicated in the horizontal 
section.  
Supply and transfer of 
financial information, and 
processing of financial data 
and related software, by suppliers of other financial 
services (1) Unbound  None 
(2) Unbound 
(3) None 
(4) Unbound (1) Unbound  None 
(2) Unbound 
(3) None 
(4) Unbound   
  TN/S/O/HND/Rev.1
 Page 13Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
9. TOURISM AND 
TRAVEL-RELATED SERVICES 
Hotels 
(CPC 64110-64199) (including hotels, motels, 
hostels and other lodging 
services)  
  
 
(1) Unbound (2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section.  
  
 
(1) Unbound
* 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section.  
Restaurants 
(CPC 64210-64320) (including food and beverage 
serving, with self-service or 
otherwise) (1) Unbound
* 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section.
 (1) Unbound* 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section.  
11. TRANSPORT SERVICES 
Car rental services 
(CPC 71222)  
(1) Unbound 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section.
  
(1) Unbound* 
(2) None (3) None 
(4) Unbound, except as indicated in the horizontal 
section.
  
C. Air transport services     
(a) Maintenance and repair 
services3 (1) Unbound∗ 
(2) None 
(3) None (4) Unbound, except as indicated in the horizontal 
section. (1) Unbound
* 
(2) None 
(3) None 
(4) Unbound, except as indicated in the horizontal 
section.  
                                                      
3 As defined in the Annex on Air Transport, paragraph 6. 
∗ Due to lack of technical feasibility.  
 TN/S/O/HND/Rev.1 
Page 14 Modes of supply:  (1) Cross-border supply (2)  Consumption abroad (3)  Commercial presence (4)  Presence of natural persons 
Sector or subsector Limitations on market access Limitations on national  treatment Additional commitments 
(b) Sale or marketing of 
transport services3 
(CPC 74710-74712) 
(including travel agencies, 
tour operator and tourist guide services)
 (1) Unbound (2) None (3) Unbound 
(4) Unbound (1) Unbound 
(2) None (3) Unbound 
(4) Unbound  
(c) Computerized reservation 
services3 (1) None (2) None 
(3) Unbound (4) Unbound (1) None 
(2) None 
(3) Unbound (4) Unbound  
 
 
                                                      
3 As defined in the Annex on Air Transport, paragraph 6.  TN/S/O/HND/Rev.1 
 Page 15 
 
 
 ANNEX  
REFERENCE PAPER  
Scope  
 The following are definitions and principl es on the regulatory framework for the basic 
telecommunications services. 
Definitions  
 Users  mean service consumers and service suppliers. 
 Essential facilities  mean facilities of a public telecommunications transport network or service 
that: 
(a) Are exclusively or predominantly provided by a single or limited number of 
suppliers;  and 
(b) cannot feasibly be economically or techni cally substituted in order to provide a 
service. 
 A major supplier  is a supplier which has the ability to materially affect the terms of 
participation (having regard to price and supply) in  the relevant market for basic telecommunications 
services as a result of: 
(a) Control over essential facilities;  or 
(b) use of its position in the market. 
1. Competitive safeguards  
1.1 Prevention of anti-competitive practices in telecommunications  
 Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone 
or together, are a major supplier from engaging  in or continuing anti-competitive practices. 
1.2 Safeguards  
 The anti-competitive practices referred to above shall include in particular: 
(a) Engaging in anti-competitive cross-subsidization; 
(b) using information obtained from competit ors with anti-competitive results;  and 
(c) not making available to other services suppliers on a timely basis technical 
information about essential facilities and co mmercially relevant information which 
are necessary for them to provide services. TN/S/O/HND/Rev.1 
Page 16  
 
 2. Interconnection
 
2.1 This section applies to linking with supplie rs providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and to access services provided by anot her supplier, where specific commitments are 
undertaken. 
2.2 Interconnection to be ensured  
 Interconnection with a major supplier will be en sured at any technically feasible point in the 
network.  Such interconnection is provided. 
(a) Under non-discriminatory terms, conditions  (including technical standards and 
specifications) and rates and of a quality no less favourable than that provided for its 
own like services or for like services of non-affiliated service suppliers or for its 
subsidiaries or other affiliates; 
(b) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard 
to economic feasibility, and sufficiently unbundl ed so that the supplier need not pay 
for network components or facilities that it does not require for the service to be 
provided;  and 
(c) upon request, at points in addition to the ne twork termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary additional facilities. 
2.3 Public availability of the pro cedures for interconnection negotiations
 
 The procedures applicable for interconnecti on to a major supplier will be made publicly 
available. 
2.4 Transparency of interconnection arrangements  
 It is ensured that a major supplier will make  publicly available either its interconnection 
agreements or a reference interconnection offer. 
2.5 Interconnection:  dispute settlement  
 A service supplier requesting interconnection with  a major supplier will have recourse, either: 
(a) At any time or 
(b) after a reasonable period of time which has been made publicly known 
to an independent domestic body, which may be a regulatory body as referred to in paragraph 5 
below, to resolve disputes regarding appropriate te rms, conditions and rates for interconnection within 
a reasonable period of time, to the extent th at these have not been established previously. 
3. Universal service  
 Any Member has the right to define the ki nd of universal service obligation it wishes to 
maintain.  Such obligations will not be regarded as anti-competitive per se , provided they are  TN/S/O/HND/Rev.1 
 Page 17 
 
 
 administered in a transparent, non-discriminator y and competitively neutral manner and are not more 
burdensome than necessary for the kind of universal service defined by the Member. 
4. Public availability of licensing criteria  
 Where a licence is required, the following will be made publicly available:  (a) All the licensing criteria and the period of time normally required to reach a decision 
concerning an application for a licence;  and 
(b) the terms and conditions  of individual licences. 
 The reasons for the denial of a licence will be  made known to the applicant upon request. 
5. Independent regulators
 
 The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services.  The decisions of and the procedures used by regulators shall be 
impartial with respect to all market participants. 
6. Allocation and use of scarce resources  
 Any procedures for the allocation and use of scarce resources, including frequencies, numbers 
and rights of way, will be carried out in an obj ective, timely, transparent and non-discriminatory 
manner.  The current state of allocated frequency ba nds will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required.   
 TN/S/O/HND/Rev.1 
Page 18 HONDURAS - CONSOLIDATED LIST OF ARTICLE II MFN EXEMPTIONS  
 
Sector or subsector Descri ption of measure indicating 
its inconsistency with Article II  Countries to which the 
measure applies  Intended duration  Conditions creating the need for 
the exemption  
All sectors  Progressive integration of a range of services.
 Guatemala, El Salvador, Nicaragua, Costa Rica and Panama
 Indefinite  The General Treaty on Central American Economic Integration and its related instruments provide for 
progressive integration in a range of 
economic areas, including services of various kinds. 
Financial services Monetary and financial integration, free transfer of capital, facilitation of 
the establishment and operation of 
banks and insurance companies, branches and subsidiaries and other 
financial entities. Guatemala, El Salvador, 
Nicaragua, Costa Rica and 
Panama
 Indefinite  Central American integration of the 
financial sector.  
 The opening of branches or agencies 
of foreign banks may be subject to reciprocity. All countries
 Indefinite  To reflect current Honduran 
legislation.  
Telecommunication services
 Establishment, operation, maintenance, expansion and modernization of regional 
telecommunications systems. Guatemala, El Salvador, 
Nicaragua and Costa Rica  Indefinite
 Regional integration in the 
telecommunications sector.   
Professional services  Authorization to exercise a profession is granted on the basis of reciprocity. All countries
 Indefinite  Lack of reciprocity  
Land transport 
services  Licences and authorization are granted at the Honduran 
Government's discretion on the basis 
of reciprocity.
 Countries with which land transport is possible.
 Indefinite  Lack of reciprocity  
 
 
__________