Which of the following is not the mode of international delivery of services under GATS
Answers
Answer:
gats
Explanation:
gats
gats
gats
gats
gats
gats
gats
Answer:
Explanation:
The creation of the GATS was one of the landmark achievements of the Uruguay Round, whose results entered into force in January 1995. The GATS was inspired by essentially the same objectives as its counterpart in merchandise trade, the General Agreement on Tariffs and Trade (GATT): creating a credible and reliable system of international trade rules; ensuring fair and equitable treatment of all participants (principle of non-discrimination); stimulating economic activity through guaranteed policy bindings; and promoting trade and development through progressive liberalization.
While services currently account for over two-thirds of global production and employment, they represent no more than 25 per cent of total trade, when measured on a balance-of-payments basis. This — seemingly modest — share should not be underestimated, however. Indeed, balance-of-payments statistics do not capture one of the modes of service supply defined in the GATS, which is the supply through commercial presence in another country (mode 3). Furthermore, even though services are increasingly traded in their own right, they also serve as crucial inputs into the production of goods and, consequently, when assessed in value-added terms, services account for about 50 per cent of world trade.