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Trade in Services Agreement
By: Harveer Singh
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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
• 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.
• ‘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.
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