International trade and investment in services are an increasingly
important part of global commerce. Advances in information and
telecommunication technologies have expanded the scope of services
that can be traded cross-border. Many countries now allow foreign
investment in newly privatized and competitive markets for key
infrastructure services, such as energy, telecommunications, and
transport. More and more people are travelling abroad to consume
tourism, education, and medical services, and to supply services
ranging from construction to software development. In fact,
services are the fastest growing components of the global economy,
and trade and foreign direct investment (FDI) in services have
grown faster than in goods over the past decade and a half.
International transactions, however, continue to be impeded by
policy barriers, especially to foreign investment and the movement
of service-providing individuals. Developing countries in
particular are likely to benefit significantly from further
domestic liberalization and the elimination of barriers to their
exports. In many instances, income gains from a reduction in
protection to services may be far greater than from trade
liberalization in goods.
In light of the increasing importance of international trade in
services and the inclusion of services issues on the agendas of the
multilateral, regional and bilateral trade negotiations, there is
an obvious need to understand the economic implications of services
trade and liberalization. A Handbook of International Trade in
Services provides a comprehensive introduction to the subject,
making it an essential reference for trade officials, policy
advisors, analysts, academics, and students. Beginning with an
overview on the key issues in trade in services and discussion of
the GATS, the book then looks at trade negotiations in the service
sector, the barriers to trade in services, and concludes by looking
at a number of specific service sectors, such as financial
services, e-commerce, health services, and the temporary movement
of workers.
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