PRESS RELEASE
For Immediate Release ................... ... .......Contact: John Goyer
February 28, 2006 ...... ................................. .(202) 289-7460 ext. 22
WTO Collective Requests Provide Impetus For Services Negotiations
(Washington, DC) The Coalition of Service Industries (CSI) today expressed optimism that the World Trade Organization (WTO) "collective" request process in services would lend new energy and momentum to the services negotiations. WTO members today submitted collective requests in sectors such as financial services, telecommunications, computer and related services, distribution, express delivery services, and others. A number of additional collective requests are expected to follow in the coming weeks.
"We are optimistic that this approach can generate new vigor in services." said Robert Vastine, President of CSI. "The high level of activity among the various services 'Friends Groups' in recent weeks illustrates the interest in this approach, and I believe it reflects a growing awareness of the vitally important role that services play in economic development. "
Under the collective request process, to which WTO members agreed at their December 2005 Ministerial meeting in Hong Kong, interested groups of countries voluntarily make joint requests to specific groups of other countries to liberalize particular services. This approach is intended to supplement the traditional bilateral request-offer negotiating process. The requests will be subject to negotiation over the next several months, and WTO members are to produce revised services offers by the end of July.
These negotiations are particularly important for the United States, where the service sector represents approximately 75% of GDP, and employs 80% of the workforce. US crossborder exports of services last year reached $378 billion, with the US enjoying a $56 billion trade surplus in services.
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