Extras din referat
Services play an important role in all modern economies.
A strong tertiary service sector may boost economic growth and enhance industrial performance. In an increasingly globalized world, services such as finance, insurance, transport, logistics and communications deliver key intermediate inputs and thereby provide crucial support to the rest of the economy.
The size of the international market for service is difficult to measure. However, it has been estimated that services, termed as invisibles, account for about one-quarter of the world trade.
International trade in services is subject, in general, to lot of restrictions. The General Agreement on Tariffs and Trade (GATT) which has been trying to liberalize the trade in goods does not cover the service. The industrialized nations, like the U.S.A. and the members of the EEC have been strongly arguing for the inclusion of trade in services in the GATT negotiations.
- Services represent 20% of total world trade and account for the 2/3 of GDP.
Intangible nature
Many services require physical proximity of provider and consumer
- services are perceived as less easily tradable than goods
Conventional trade statistics do not cover all international trade in services
Services delivered by foreign affiliates > conventional international trade in services
There are other important legal issues to consider:
The location of supplier and customer can vary, affecting which country's regulations apply.
Sorting out the payment issues such as choice of currency and protection against the risk of non-payment.
Taking action to protect the intellectual property in other countries.
The European Union Services
Directive removes many barriers
and open the internal market within
the EU to service businesses established
in a member state.
As of 2010, those in certain service
sectors will be able to access
new cross-border opportunities
and enjoy less restrictive access to EU markets.
There are four different ways in which services can be delivered internationally, depending on the locations of the supplier and the customer:
Cross-border trade-Both supplier and customer are in their own countries, while the service crosses the border.
Consumption overseas-The customer visits the supplier's country, where the supplier provides the service.
ex: international travel and tourism services.
Setting up overseas-The supplier establishes a presence in the customer's country.
ex: opening a branch office overseas.
Movement of individuals- Individuals who will provide the service travel to the customer's country.
The above methods of service delivery are defined in the World Trade Organization’s General Agreement on Trade in Services (GATS)
Conținut arhivă zip
- Features in international trade.pptx
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