Trade in services
From Freepedia
International trade is divided into two sections: Trade in Goods and Trade in Services. Trade in Services refers to any intangible product that is sold by a company in one country to consumers or another company in another country.
Cross-border tourism, financial or telecommunications services are examples of Trade in Services. To help regulate the trade in services, several agreements have been negotiated between countries, most prominently the General Agreement on Trade in Services (GATS) in 1995, which contains a legal framework governing trade in services in the more than 140 member economies. Regional agreements like those between CARICOM, EU, and NAFTA members may set stricter rules but apply for smaller combined economies.
References
- Department for International Development, Background Briefing - Service and Developing Countries, March 2003. http://www.dfid.gov.uk/pubs/files/tradebrief-services.pdf Last accessed 17 February 2005.
- The World Trade Organisation, The General Agreement on Trade in Services (GATS): objectives, coverage and disciplines, http://www.wto.org/english/tratop_e/serv_e/gatsqa_e.htm Last accessed 13 February 2005.
- WTO Secretariat, AN INTRODUCTION TO THE GATS, http://www.wto.org/english/tratop_e/serv_e/gsintr_e.doc 13 February 2005.
