Part III World Trade Law and Regional Trade Agreements, XVII The General Agreement on Trade in Services (GATS)

Subject(s):

Competition — International investment law — International monetary law — International trade

This chapter discusses the General Agreement on Trade in Services (GATS). Besides GATT, which has served as the legal core of the world trading system, GATS extends to all measures which affect trade in services and covers all services in any sector, except those ‘supplied in the exercise of governmental authority’. GATS, like GATT enshrines the most-favoured-nation principle. In addition, a number of important GATS provisions do not apply generally, but are only binding for States having entered specific commitments for certain service sectors. The chapter also tackles other aspects of GATS, such as its general exceptions and its restrictive measures. In addition, the chapter explores other areas falling under the regime of GATS: telecommunications services, financial services, and the Trade in Services Agreement (TiSA).