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1 results

  • 9 - Services

  • from Part IV - Major Substantive Topics
  • Alan Wm. Wolff, Peterson Institute for International Economics (PIIE)
  • Book:
    Revitalizing the World Trading System
    Published online:
    22 June 2023
    Print publication:
    06 July 2023, pp 282-294

  • Summary

    Between a fifth and a quarter of all of world trade is accounted for by services, and even this number may be underestimated. Services include call centers, engineering, creation of software and apps, education, providing content for streaming services for entertainment, not to mention the ancillary services supporting goods trade – customs brokerage, logistics, air and marine transport, and express delivery. It is a very long list that is constantly growing. A solid start was made with the General Agreement on Trade in Services (GATS) to bring services into the rules of the world trading system. Then little else was agreed but for the JSI on Domestic Regulation of Services. Much remains to be done.