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"Trade in Services" published on by Oxford University Press.

Theoretical questions faced by trade forums in their attempt to govern international service activities.

In 2016, the Government of India proposed negotiations on an agreement to facilitate trade in services to complement the 2013 World Trade Organization Trade Facilitation Agreement in goods. The proposal did not find much support, but plurilateral talks launched in 2017 on various policy areas encompass areas that are very relevant from a services trade facilitation perspective. This paper argues that participating in the current plurilateral talks can do much to achieve services trade facilitation objectives by identifying good regulatory practices. Although elements relevant to services trade facilitation are on the table in the World Trade Organization, there are important gaps. Identifying priorities for complementary international cooperation to facilitate trade in services on a plurilateral basis requires initiatives that bring together governments, services industry associations, and sectoral regulators.

In 2016, the Government of India proposed negotiations on an agreement to facilitate trade in services to complement the 2013 WTO agreement on facilitation of trade in goods. The proposal did not find much support, but plurilateral talks launched at the 2017 WTO ministerial conference in Buenos Aires encompass policy areas that are very relevant from a services trade facilitation perspective. This paper argues that participating in the current plurilateral talks can do much to achieve services trade facilitation objectives by identifying good regulatory practices. Although elements relevant to services trade facilitation are on the table in the WTO, there are important gaps. Identifying priorities for complementary international cooperation to facilitate trade in services on a plurilateral basis requires initiatives that bring together governments, services industry associations and sectoral regulators.

With the establishment of the WTO, trade in services became part of the world trade order. This volume covers the core agreement, the General Agreement on Trade in Services (GATS) with annexes.

Preliminary Material /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- General Agreement on Trade in Services (Gats) /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part I. Scope and Definition /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part II. General Obligations and Disciplines /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part III. Specific Commitments /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part IV. Progressive Liberalization /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part V. Institutional Provisions /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Part VI. Final Provisions /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Article II Exemptions /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Movement of Natural Persons Supplying Services under the Agreement /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Third Protocol to the General Agreement on Trade in Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Air Transport Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Financial Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Second Annex on Financial Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Second Protocol to the General Agreement on Trade in Services (Interim Agreement on Financial Services) /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Fifth Protocol to the General Agreement on Trade in Services (Financial Services Agreement) /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Understanding on Commitments in Financial Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Negotiations on Maritime Transport Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Telecommunications /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Annex on Negotiations on Basic Telecommunications /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Fourth Protocol to the General Agreement on Trade in Services /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Telecommunications Services: Reference Paper /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle -- Index /Rüdiger Wolfrum , Peter-Tobias Stoll and Clemens Feinäugle.

Executive SummaryServices are simultaneously the most important sector of the UK economy and the sector facing the biggest challenge as a result of Brexit. The prospective departure from the European Single Market reduces the UK to the status of '3rd country' in respect of services. Accessing the internal market will depend on both subjective and objective conditions that differ from sector to sector, requiring detailed and highly specific arrangements for such industries as aviation and financial services.In practice, the EU can be expected to use these circumstances to discourage the UK from significantly diverging from European regulatory norms, as a matter of policy. In view of the weakness of, and uncertainty surrounding, international moves to oversee, let alone to further liberalise, trade in services, Brexit will thus leave the UK's services sector – and especially financial services – uniquely isolated and exposed. The government will hence need to consider carefully the costs of decisions to diverge from EU regulatory standards, and should be giving great priority to establishing clear objectives for close cooperation between the UK and the EU policy makers and regulators.