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Lecture # 63 trade in services agreement (tisa)

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Current Affairs for Civil Services

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Lecture # 63 trade in services agreement (tisa)

  1. 1. Trade in Services Agreement (TISA) By: Harveer Singh twitter.com/iastoss +91-880-2009-420 This PPT is for educational purpose only. The learner is expected to supplement the video lecture with this ppt. The content is taken from various daily and weekly publications. Due care has been taken in preparing the material but the tutor or superprofs would not be responsible for any error or consequences arising out of it.
  2. 2. Trade in Services Agreement (TISA) • Launched in April 2013, The Trade in Services Agreement (TiSA) is a proposed international trade treaty between 24 Parties, including the European Union and the United States. • Tisa aims at opening up markets and improving rules in areas such as licensing, financial services, telecom, e- commerce, maritime transport, and professionals moving abroad temporarily to provide services. Together, the negotiating countries, including the US and the European Union, account for 70% of world trade in services. • Tisa has three contentious clauses—standstill, ratchet and MFN (most favoured nation)-forward.
  3. 3. • ‘Standstill’ binds the current level of domestic liberalization in services that a country cannot reverse in future. • ‘Ratchet’ implies that future domestic policy changes by a member country will also automatically get committed under Tisa. • ‘MFN-forward’ means any future concession given to a trading partner under a bilateral treaty will automatically get extended to other members of Tisa.
  4. 4. Thank You. •For any feedback/query/word of thanks, the Tutor can be contacted at harveersinh@gmail.com

Current Affairs for Civil Services

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