Archive - Feb 28, 2006

The United States today launched a new effort to jump start the WTO Services negotiations. Joining with like-minded developed and developing countries, the U.S. will push for a common set of liberalization objectives in services sectors key to global growth and development. Services are a significant and growing part of the U.S. economy as evidenced by the $56 billion surplus in services trade in 2005. Further, 8 of 10 U.S. jobs are in the services sector.

Today, the EU and other developed and developing country WTO partners have submitted new market access requests in several services sectors as part of the DDA negotiations in services. These joint requests mark the beginning of the 'plurilateral' negotiations in services as agreed by WTO members at last December

An agreement was reached among a number of countries to pursue common objectives in improving access to selected telecommunications markets around the globe. The markets selected reflect the interest of many countries to develop a modern telecommunications sector. There is a broad recognition that the opening up of telecommunications markets will bring significant benefits to customers. Foreign operators will bring with them - especially to developing countries - valuable technological knowledge acquired through their operations in their home markets. Enhanced competition brings down the overall cost of services and consumers enjoy higher quality, advanced services at affordable prices. The development of telecommunications markets promotes the performance of enterprises of all economic sectors as the cost of their operations will be reduced while speed in conducting business will be improved.