Taiwan has entered into negotiations with 22 World Trade Organization members on the Trade in Services Agreement, according to the ROC Ministry of Economic Affairs.
The services industry, functioning as a bridge between producers and consumers, has contributed to the global economy, an MOEA official said July 1. “In Taiwan last year, the sector accounted for 70 percent of the nation’s gross domestic product of US$482.79 billion and 60 percent of total employment.
“As it has not been easy for Taiwan to ink free trade agreements with other nations, such multilateral talks will allow us to sign similar pacts with important trading partners at one time.”
WTO Members involved in the negotiations commenced discussions June 24 in Geneva, Switzerland, on promoting the liberalization of trade services in the wake of deadlocked Doha Round talks.
“Necessary consultations and procedures were completed prior to negotiations June 28, with contents yet to be discussed,” the official said, adding that such participants at the talks include Australia, Canada, the EU, Japan, South Korea and the U.S. (KML-JSM)
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