The Uruguay Round: services in the world economy

Negotiations are now underway in the Uruguay Round to create the first multilateral framework for international trade in services. Such an agreement, which could be in place by late 1990, would present significant opportunities for developing countries seeking economic growth to expand their participation in the GATT system. The 20 short papers in this collection provide an overview of the main issues involved with international trade in services. The first four papers present the basic economic principles used in analyzing service trade issues, the status of the negotiations and statistical material that is useful for understanding the main issues. Another section examines specific service industries, including banking and financial services, construction and enginering, insurance, maritime and air transport, and professional services. Descriptions of each sector include the size of the industry; key factors of production and delivery; and efforts to regulate, restrict, or open trade in each sector. The report also describes how trade liberalization in services might affect different countries or groups of countries. It outlines who in each country is likely to gain or lose from any agreement to liberalize trade. -from Publisher