What does GATS mean in UNCLASSIFIED
GATS stands for General Agreement on Trade in Services. It is a multilateral agreement that sets rules for international trade in services. The agreement was negotiated under the auspices of the World Trade Organization (WTO) and entered into force in 1995.
GATS meaning in Unclassified in Miscellaneous
GATS mostly used in an acronym Unclassified in Category Miscellaneous that means General Agreement on Trade in Servcies
Shorthand: GATS,
Full Form: General Agreement on Trade in Servcies
For more information of "General Agreement on Trade in Servcies", see the section below.
GATS's Objectives
- To liberalize trade in services
- To promote transparency and predictability in trade in services
- To facilitate the development of national services sectors
- To contribute to the economic growth and development of all Members
GATS's Scope
GATS applies to all services sectors except those specifically excluded, such as:
- Services supplied in the exercise of governmental authority
- Services supplied in the air transport sector
- Maritime transport services
- Financial services
GATS's Principles
GATS is based on the following principles:
- Most-favored-nation (MFN) treatment: Members must treat all other Members equally in the provision of services.
- National treatment: Members must treat foreign service suppliers no less favorably than domestic service suppliers.
- Transparency: Members must publish all laws, regulations, and other measures that affect trade in services.
- Progressive liberalization: Members must gradually reduce barriers to trade in services.
GATS's Benefits
GATS has a number of benefits, including:
- Increased trade in services
- Lower prices for services
- More choice for consumers
- Increased economic growth and development
Essential Questions and Answers on General Agreement on Trade in Servcies in "MISCELLANEOUS»UNFILED"
What is the General Agreement on Trade in Services (GATS)?
The General Agreement on Trade in Services (GATS) is a multilateral agreement that sets out rules and disciplines for international trade in services. It was negotiated under the auspices of the World Trade Organization (WTO) and entered into force in 1995.
What services are covered by GATS?
GATS covers a wide range of services sectors, including professional services (e.g., legal, accounting, engineering), financial services (e.g., banking, insurance), telecommunications, transportation, and tourism.
What are the main objectives of GATS?
The main objectives of GATS are to:
- Promote the expansion of trade in services;
- Increase the predictability and transparency of regulations governing trade in services;
- Facilitate the movement of service suppliers across borders;
- Promote competition in the services sector.
How does GATS work?
GATS operates through a set of rules and disciplines that apply to all member countries. These rules cover areas such as:
- Market access: Countries are required to provide certain levels of market access for foreign service suppliers.
- National treatment: Foreign service suppliers must be treated no less favorably than domestic service suppliers.
- Most-favored-nation treatment: Countries cannot discriminate between different countries in their treatment of service suppliers.
What are the benefits of GATS?
GATS can provide a number of benefits, including:
- Increased trade in services: GATS can help to increase trade in services by reducing barriers to entry and promoting competition.
- Economic growth: Increased trade in services can lead to economic growth and job creation.
- Improved consumer choice: GATS can help to increase consumer choice by allowing them to access a wider range of services.
- Technological innovation: GATS can promote technological innovation by encouraging firms to develop new and innovative services.
Final Words: GATS is an important agreement that has helped to liberalize trade in services and promote economic growth and development. The agreement is based on the principles of MFN treatment, national treatment, transparency, and progressive liberalization. GATS has a number of benefits, including increased trade in services, lower prices for services, more choice for consumers, and increased economic growth and development.
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