Xinhua News Agency, Beijing, December 8 -
Question: Commerce Department interpretation of WTO Trade in Services Domestic Regulation joint statement initiative outcome of the negotiations
Xinhua News Agency reporter Yu Jiaxin
A few days ago, 67 members of the WTO jointly issued the "Declaration on Completing the Negotiations on Domestic Regulation of Trade in Services", confirming the successful completion of the negotiation of the Joint Declaration on Domestic Regulation of Trade in Services, and announcing that the "Reference Document for Domestic Regulation of Trade in Services" has been reached. Complete their respective formal approvals within the year.
What was the outcome of the negotiation?
What is the significance?
What role did China play in the negotiations?
The relevant person in charge of the World Trade Department of the Ministry of Commerce was interviewed by the reporter.
The results are mainly reflected in the reference documents reached
The person in charge introduced that the results of the negotiations are mainly reflected in the reference document announced by the participants, namely the Reference Document for Domestic Regulation of Trade in Services.
For example, in the general provisions, the rules reflect development orientation and provide developing members with a transition period of up to 7 years; the rules also emphasize the supervisory rights of the participants and specify that all parties have the right to manage their domestic service provision and formulate new regulations Wait.
In the specific rules and requirements, it is proposed that measures related to service trade should meet objective and transparent standards, procedural fairness and reasonable requirements, and should not constitute gender discrimination between men and women.
In terms of financial service rules, taking into account the particularity of financial services, it provides a moderately flexible supervision space for financial-related permits and qualification applications and approvals.
Will save about 150 billion U.S. dollars each year for companies participating in international service trade
"The relevant rules of the WTO's domestic regulation of trade in services are aimed at optimizing the approval process for member services in the field, reducing business costs, and improving the global business environment for trade in services." The person in charge said.
Service trade is an important part of international trade.
In the past 10 years, the average growth rate of global trade in services has been higher than that of trade in goods.
The WTO predicts that the proportion of service trade in international trade will increase from the current 22% to over 33% in 2040.
However, the transaction cost of international service trade is twice the cost of traditional goods trade, and the cost caused by member internal regulatory factors accounts for 40%.
The person in charge stated that there are 67 WTO members participating in the negotiation on this topic, including China, the United States, and the European Union, and their service trade accounts for 90% of the world's total service trade.
According to the joint research report of the WTO and the OECD, the entry into force of the reference document will save about US$150 billion in annual costs for global companies participating in international trade in services, especially benefiting small and medium-sized enterprises, especially in the financial, commerce, communications and transportation service industries.
As China is the second largest market for global service trade, the results of the negotiations will also play a positive role in the development of China's service trade.
The person in charge said that the reference documents will help Chinese companies more conveniently set up business entities overseas, obtain business licenses and related qualifications, and provide services through cross-border methods.
In addition, it will also help reduce the cost of Chinese enterprises entering the international market, and provide rule guarantees for the high-quality development of my country's service trade.
Help revitalize the WTO's negotiation function and provide a reference for other negotiation paths
"Domestic regulation of trade in services is the first time the WTO has achieved a major breakthrough in plurilateral negotiations in the past 20 years." Negotiation paths for other issues in the future provide an important reference.
WTO Director-General Ivira also pointed out that the achievement of relevant negotiations indicates that the WTO is coming out of a trough and beginning to move in a positive direction.
It is worth mentioning that the reference document proposes that measures related to trade in services do not constitute gender discrimination between men and women.
The person in charge stated that for the first time the gender equality clause was included in the reference document, requiring all participants to ensure that men and women have equal rights to participate in trade in services in laws and regulations. This will become a new way for the WTO to support women's economic empowerment.
China has made important contributions to the smooth conclusion of the negotiations
The person in charge stated that China actively participated in the negotiations, offered proposals on the initiative, and always met other participants halfway, and made important contributions to the smooth conclusion of the negotiations.
The person in charge stated that China not only initiated negotiations with all parties, but also fulfilled its responsibilities with actual open actions.
For a long time, China has continued to carry out reform and opening up including the service industry, promulgated the Foreign Investment Law and its supporting regulations, and established a pre-access national treatment plus negative list management system for foreign investment including the service industry.
In July of this year, the Ministry of Commerce also issued a negative list of cross-border service trade in Hainan Free Trade Port, and continuously improved the business environment through reform and opening up.
China is also actively promoting negotiations to reach an agreement.
According to the person in charge, during the negotiation process, China will actively research and discuss solutions to specific issues with all parties, and show flexibility when necessary to seek consensus.
For example, in the final sprint, China submitted two draft documents on the schedule of specific commitments in a timely manner, making a positive contribution to the completion of the negotiations.
The person in charge stated that China will complete the domestic approval process as soon as possible and work with all parties to promote the early entry into force of the negotiation results.