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The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) which entered into force in January 1995 as a result of the Uruguay Round negotiations. The treaty was created to extend the multilateral trading system to service sector , in the same way the General Agreement on Tariffs and Trade (GATT ...
The agreement covers about 70% of the global services economy. Some claim that the aim of TISA is the privatization of worldwide trade in services in areas such as banking, healthcare, and transport. [1] [7] Services comprise 75% of American economic output. In EU states, services comprise almost 75% of its employment and gross domestic product ...
In fact, the agreements fall into a simple structure with six main parts: an umbrella agreement (the Agreement Establishing the WTO); goods and investment (the Multilateral Agreements on Trade in Goods including the GATT 1994 and the Trade Related Investment Measures (TRIMS)); services (General Agreement on Trade in Services (GATS));
The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying this could ...
The economists Harry Dexter White (left) and John Maynard Keynes (right) at the Bretton Woods Conference in New Hampshire [27]. The WTO precursor, General Agreement on Tariffs and Trade (GATT), was established by a multilateral treaty of 23 countries in 1947 after the end of World War II, in the wake of other new multilateral institutions dedicated to international economic cooperation—such ...
International trade in services is defined by the Four Modes of Supply of the General Agreement on Trade in Services (GATS). (Mode 1) Cross-Border Trade – which is defined as delivery of a service from the territory of one country into the territory of other country, e.g. remotely providing accounting services in one country for a company based in another country, or an airline flying ...
National treatment is an integral part of many World Trade Organization agreements. Together with the most favoured nation principle, national treatment is one of the cornerstones of WTO trade law. It is found in all 3 of the main WTO agreements (GATT, GATS and TRIPS). [2]
Agreement on Free Trade in Services, Establishment, Operations and Investment signed on 8 June 2023. [ 24 ] It is partly based on the WTO General Agreement on Trade in Services and covers four modes of supply for the delivery of services in cross-border trade including the right to freely provide services on site after crossing the border with ...