Annex 3 Wto Agreement

Annex 3 of the World Trade Organization`s (WTO) agreement pertains to the General Agreement on Trade in Services, or GATS. The GATS is one of the key agreements within the WTO, which was established in 1995 to enforce international trade rules and reduce trade barriers between countries.

Annex 3 outlines the specific commitments made by WTO members in relation to the liberalization of trade in services. It categorizes services into 12 sectors, including business, communication, construction, education, financial, health, tourism, and transport. Each sector has its own set of rules and regulations that must be followed by WTO members.

Under Annex 3, WTO members are required to notify other members of any new or modified measures that may affect trade in services. This includes regulations, licensing requirements, and any other measures that may impact the delivery of services across borders. Members are also required to provide each other with opportunities to negotiate changes to these measures.

Additionally, WTO members are required to provide market access to other members for trade in services, subject to certain limitations. For example, countries may impose restrictions on foreign service providers in order to protect national security or public interest. However, these restrictions must be applied in a non-discriminatory manner.

The GATS also includes provisions for the movement of natural persons, such as service providers and their employees, across borders to deliver services. WTO members are required to provide access to their territories for service providers from other member countries. However, this provision is subject to limitations and may be restricted in certain circumstances.

Overall, Annex 3 of the WTO agreement is an important tool for regulating trade in services between member countries. By setting out specific rules and regulations, it provides a framework for the liberalization of trade while also protecting national interests. As such, it is a crucial component of the global trade system and its importance is likely to continue to grow in the years to come.