April 19 , 2011
IN THIS ALERT:
WTO: World Services Trade Sees 8% Growth in 2010
World exports of services increased by 8% last year to $3.67 trillion after dropping 12% in 2009, according to a report released by the World Trade Organization (WTO). The largest exporters of commercial services exports are the United States, which accounted for 14% of the global total, followed by Germany, which exported $230 billion, or 6% of world services exports. UK services exports stood at $227 billion, followed by China ($170 billion) and France ($140 billion). Worldwide, transportation services grew by 14%, last year, followed by an 8% jump in travel services, and a 6% increase in other commercial services.
Source: WTO Secretariat.
According to WTO Director-General Pascal Lamy, "the hangover from the financial crisis is still with us" and he urged WTO members to "work toward opening markets rather than closing them. 'Stability' should be the name of the game for 2011," he said. For the full report, click here: http://www.wto.org/english/news_e/pres11_e/pr628_e.htm.
EU Sets out Strategy for Promoting Economic Growth Through Trade
The European Commission recently released a blueprint for revitalizing Europe's economy through an aggressive trade policy agenda. Entitled "Trade, Growth and World Affairs: Trade Policy as a Core Component of the EU's 2020 Strategy", the paper sets out how trade and investment policy should contribute to the EU's primary goal of faster, sustainable economic growth. Services represent 70% of world output but only approximately one fifth of world trade, largely a result of extensive trade barriers and high tariffs, the report says. The EU is seeking greater openness for European services providers from its main developed and emerging trading partners. It also seeks a fuller internal market for services and more regulatory cooperation with lesser developed countries to break down behind-the-border barriers and to facilitate international trade in services. For a copy of the document, click here: http://trade.ec.europa.eu/doclib/docs/2010/november/tradoc_146955.pdf
Global Services Summit 2011: Engaging the Dynamic Asian Economies
With the ongoing Trans-Pacific Partnership negotiations, efforts to move the U.S.-Korea FTA, the proliferation of bilateral and regional agreements in Asia, and the region's continued economic dynamism, this year's Global Services Summit will focus on the Asia Pacific region. Invited speakers include U.S. Trade Representative Ron Kirk, trade ministers from a number of key regional economies, and other government, business, and opinion leaders. The event will include a series of panel discussions and breakout sessions on topics including: state-owned and assisted enterprises, data flows, supply chain, forced localization, and other emerging business and commercial challenges in the region. For more information, or to register, please click here: http://uscsi.org/ServicesSummit2011.html.