Business Services

The creation of the GATS was one of the landmark achievements of the Uruguay be came Round, whose results entered into force in January 1995. While services currently account for over 60 per cent of global production and employment, they represent no more than 20 per cent of total trade (BOP basis). This—seemingly modest—share should not be underestimated, however. Many services, which have long been considered genuine domestic activities, have increasingly become internationally mobile. This trend is likely to continue, owing to the introduction of new transmission technologies (e.g., electronic banking, tele-health or tele-education services), the opening up in many countries of long entrenched monopolies (e.g. voice telephony and postal services), and regulatory reforms in hitherto tightly regulated sectors such as transport. Combined with changing consumer preferences, such technical and regulatory innovations have enhanced the "tradability"of services and, thus, created a need for multilateral disciplines.
All WTO members, some 140 economies at present, are at the same time members of the GATS and, to varying degrees, have assumed commitments in individual service sectors.
The GATS schedule largely follows a classification. It classifies services into 12 sectors which are as follows:

1. Business services;
2. Communication services;
3. Construction and related engineering services;
4. Distribution services;
5.  Educational services;
6. Environmental services;
7. Financial services;
8. Health related and social services
9. Tourism and travel related services;
10. Recreational, cultural and sporting services;
11.  Transport services;
12. And other services.