Global Efforts to liberalize World Trade in Services

John Mylonakis

Research in Business and Management, 2019, vol. 6, issue 1, 48-53

Abstract: In every international or global trade summit, one can easily find the element of the Services. Nonetheless, Services companies continue to encounter obstacles to entering and operating in new markets, due to various protectionist measures in host countries. International negotiations help to globalize the Trade in Services and apply international standards and rules to facilitate information flow and partnerships, which increase world trade and further develop international trade relations. The existence and implementation of international standards and rules in all areas of the Services could facilitate the flow of information and partnerships that would increase world trade and improve international trade relations. Efforts to reach a new world agreement in Services are constantly stumbling into the refusal of the Least Developed and Developing Countries to curb the various policies of protectionism and free market penetration. The example of BRICS (Brazil, Russia, India, People's Republic of China, South Africa) may be a good paradigm in international negotiations but still to be proved.

Date: 2019
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