Service
Trade in services has become a dominant driver of economic growth and development in both developed anddeveloping economies. Since the 1980s, evidence has shown that a stronger correlation exists between trade inservices growth andgross domestic product (GDP) than is the case for merchandised growth and GDP. Services account for more than 70 percent of GDP in developed countries and more than 50 percent in developing countries.On average, trade in services account for more than 70 percent of employment in developed countries, and more than 80 percent of female employment. Evidence also shows a higher correlation exists between services growth and poverty reduction, largely because the services sector generally employs more women.Trade inservices sectors are essential to the efficient functioning of all economies. They strengthen countries’productive capacity and have the potential to induce structural transformation in support of the 2030 Agenda forSustainable Development. The quality of policies, regulations and institutional frameworks is a key determinant of services performance. Because services are increasingly subject to liberalization under multilateral, plurilateral and regional trade agreements it isimportantthat countries develop coherent approaches to domestic regulation andtrade liberalization in the services sector, prior or at least in parallel to engaging in such negotiations.
Services Policy Review (SPR) is the ‘systematic review’ conducted on the trade policy, regulatory and institutional frameworks components or aspects of the service sector. The objective of such a review is to enhance the ability to harness the benefits to be derived from the services sector and international services trade.
A major aspect of ECOWAS economic transformation process remains the consolidation of its trade in services sector. In view of this, in July 2016, the ECOWAS Commission and the United Nations Conference on Trade and Development (UNCTAD) – with financial support from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) – launched the ECOWAS Services Policy Review (SPR), towards the development of a coherent and comprehensive strategic framework for services, in line with the objective stated in Article 3 of the Revised ECOWAS Treaty.
The objectives of the ECOWAS SPR are to review the trade policy, regulatory and institutional frameworks that characterize the region’s services sector – in order to better harness the development benefits of the services sector and of international trade in services in the African Continental Free Trade Area (AfCFTA).
The Draft ECOWAS SPR offers policy recommendations for the overall services sector of the region and for the specific sectors chosen. The recommendations focus on how the region can more effectively expand its services sector, creating jobs and helping to raise living standards. Proposed recommendations include:
- the development of an ECOWAS Trade in Services Portal and
- the formulation of an ECOWAS Trade in Services Market Blueprint 2030.
AGRIC TRADE
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus l
AGRIC TRADE
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus l