Services trade governance could see some significant developments in the coming year, as various major trade initiatives confirmed separately last month that they hope to reach conclusion in 2016. In recent weeks, negotiators for three major pacts – the Trade in Services Agreement (TISA), the Transatlantic Trade and Investment Partnership (TTIP), and the Regional Comprehensive Economic Partnership (RCEP) – have all met to set the stage for a scale-up in pace for their respective talks. Meanwhile, the Trans-Pacific Partnership (TPP) is now entering the ratification stage in its 12 participating countries, with one-third of the pact’s 30 chapters dealing either directly or indirectly with services. Together, the four processes cover nearly one-third of the world’s countries, while representing the lion’s share of world output and trade. Along with their commercial heft, they have also drawn growing attention in light of the limited progress in trade negotiations at the multilateral level, including on services, with the WTO’s Doha Round of trade talks facing an uncertain future after members agreed to disagree over whether to reaffirm its mandate at last December’s ministerial conference. (See Bridges Daily Update, 19 December 2015 ) Unlike TISA, which exclusively focuses on services, TTIP and RCEP address...
Theme: SERVICES
Tags: Services, Regional Trade Agreements (RTAs), Services, Trade in Services Agreement (TISA), Transatlantic Trade and Investment Partnership (TTIP)