WTO Members Explore Market Access Issues regarding
Trade in Logistics and Financial Services
· Logistics services
WTO members debated market access issues relating to logistics
and financial services at an informal meeting of the Special Session of the Council
for Trade in Services on 9 December. The discussion stemmed from two new communications
submitted by members underscoring the importance of these sectors to world trade
and economic growth. Members also resumed talks on agriculture-related services.
Logistics services
WTO members
discussed a new communication from China that highlights the economic importance
of logistics services and the relevance of members' commitments under
the WTO's General Agreement on Trade in Services (GATS). The paper also points to
the need to lower trade barriers in this sector.
The paper
outlines the evolution and diversification of the sector over the years, with the
emergence of new suppliers and the greater use of new technologies. It notes the
importance of the sector for trade in goods and supply chains as well as its contribution
to e-commerce activities. The paper also discusses the significance of WTO members'
commitments in this sector under the GATS and encourages members to exchange views
on their experiences in relation to these commitments.
WTO members
also debated a new communication tabled by Australia, Canada, Switzerland and the
United Kingdom calling for discussions on market access issues related to financial
services. Ranging from insurance and banking to asset management and financial advisory
services, financial services are a key enabler for economic growth and global trade,
including merchandise trade, the paper notes. It also underscores the sector's role
in helping members mitigate the impact of the COVID-19 pandemic.
In the
paper, the co-sponsors draw attention to the possibility for improvements to members'
market access commitments in the
financial services sector. They suggest an exchange of views on the topic, taking
into account the economic, policy and technological developments the sector has
undergone in recent years.
Members
continued debating a communication tabled by Australia, Canada, Chile, New Zealand
and Uruguay stressing the importance of agriculture-related services to agricultural
production and value chains.
The paper
draws members' attention to services related to agriculture, hunting and forestry,
veterinary services, and distribution services of agricultural and food products
such as commission agents' services, wholesale trade and retailing. The paper also
underscores the importance of agricultural services to members' economies and livelihoods,
particularly in light of the health, economic and social challenges arising from
the COVID-19 pandemic.
In her
concluding remarks, the Chair of the Special Session of the Services Council, Ambassador
Zhanar Aitzhanova of Kazakhstan,
said that the meeting helped delegates to better understand the market access interests
of various members. It provided an opportunity to hear about key developmental considerations
and the importance of the sectors under discussion to trade and economic growth,
including in the context of the pandemic. The meeting also allowed some members'
reservations to be heard about negotiating or further opening these sectors. The
Chair encouraged delegations to "continue engaging with one another and to
reflect on how best to pursue discussions in the New Year".