Question

What do you mean by liberalised service sector under gatt agreement?

Answer 1

Heya...

Liberalized sector under gatt agreement means...

* Removal of all the extra restrictions from private sectors..

* Abolition of all the import duties..

* Permission to exchange technologies from other countries..

* Freedom to set the price as per market forces..

Thank you..

Answer 2

The GATS applies in principle to all service sectors, with two exceptions. Article I (3) of the GATS excludes “services supplied in the exercise of governmental authority”. These are services that are supplied neither on a commercial basis nor in competition with other suppliers.