What does trade in services mean?

Services include business services, communication services, architectural and related engineering services, marketing services, educational services, environmental services, financial services, health and social services, tourism-related services, recreation, cultural and sports services, transportation services and so on.

Trade in services is the trade behavior of a country's legal or natural persons in its territory or into the territory of other countries to provide services to foreign legal or natural persons.

The main modes of supply of services are: the supply of services from the territory of one Member to the territory of any other Member; the supply of services in the territory of one Member to the consumers of services in any other Member; the supply of services in the territory of any other Member by a supplier of services of one Member with a commercial presence in the territory of any other Member; and the supply of services by a supplier of services of one Member with the presence of a natural person in the territory of any other Member.

Need to know:

November 25, 2009 from the World Trade Organization, the World Bank, the United Nations Conference on Trade and Development, the OECD four global authoritative economic organizations, the head of the 24th gathered in Beijing, "the second session of the China Trade in Services Conference".

World Trade Organization (WTO) Deputy Director-General Alejandro Harra said that the services sector is a key component of the global trade recovery. The services sector has suffered far less than merchandise trade in the international financial crisis, said Mr. Harra, deputy director-general of the World Trade Organization (WTO). Although the financial industry, transportation industry and tourism industry were affected in the early stage of the crisis, the rest of the service industry still maintains a better development situation in the domestic economy and international trade in services.

Reference: Baidu Encyclopedia-Trade in Services