Trade in services is a rapidly growing area of international trade. Cross-border trade in services represents about 20 per cent of total world exports and in the past 10 years, has been growing at around 7 per cent in United States dollar terms, slightly faster than merchandised trade (WTO, 2007). However, significant restrictions exist that limit flows of world and Asia-Pacific Economic Cooperation (APEC) services trade. Since the General Agreement on Trade in Services (GATS) was implemented in 1995, APEC has implemented a number of initiatives to progress the liberalization of trade in services. Much of the analysis of services trade liberalization thus far, which feeds into negotiations, is taking place with relatively unsophisticated data and analysis tools. Yet, such tools are important for making informed policy decisions on the best way to further progress in services trade liberalization.

(MARKHUB publication)