Services are an increasingly important in the global economy and a central part of the economy of every EU country. The EU is the world’s largest exporter of services with tens of millions of jobs throughout Europe in the services sector. Opening up markets for services will mean more growth and jobs.
The Trade in Services Agreement (TiSA) is a trade agreement currently being negotiated by 23 members of the World Trade Organisation (WTO). Together, the participating countries account for 70% of world trade in services.
TiSA is based on the WTO’s General Agreement on Trade in Services (GATS), which involves all WTO members. The key provisions of the GATS – scope, definitions, market access, national treatment and exemptions – are also found in TiSA. This also means that if enough WTO members join, TiSA could be turned into a broader WTO agreement and its benefits extended beyond the current participants.
The talks are based on proposals made by the participants. TiSA aims at opening up markets and improving rules in areas such as licensing, financial services, telecoms, e-commerce, maritime transport, and professionals moving abroad temporarily to provide services.
TiSA is open to all WTO members who want to open up trade in services. China has asked to join the talks.
So what is happening?
The meetings take place in Geneva. They are chaired alternately by the EU, Australia and the US. The talks and decision-making are consensus-based.
The talks started formally in March 2013, with participants agreeing on a basic text in September 2013. By the end of 2013, most participants had indicated which of their services markets they were prepared to open and to what extent.
By June 2016, 18 negotiation rounds have taken place. The talks are progressing well. There is no formally set deadline for ending the negotiations.