On June 12-13, the Council for Trade in Services held an informal thematic session on good regulatory practices (GRPs) as part of its ongoing efforts to improve services trade. The session focused on designing and implementing regulations to achieve better outcomes, with discussions highlighting transparency, stakeholder engagement, digitalization of processes, and independent decision-making.
The World Trade Organization (WTO) Secretariat provided an overview of GRPs in services trade, emphasizing their role in regional agreements and economic benefits. International organizations such as the Organisation for Economic Co-operation and Development (OECD), the World Bank, United Nations Trade and Development (UNCTAD), Asia-Pacific Economic Cooperation (APEC), Association of Southeast Asian Nations (ASEAN) Secretariat, and the International Trade Centre (ITC) shared data showing how effective GRP implementation can boost trade and economic growth. They stressed addressing gaps between high- and low-income countries through capacity building and inclusive engagement.
Several members, including Australia, China, the European Union, Hong Kong China, the Philippines, Republic of Korea, and the United Kingdom presented national experiences using GRPs to facilitate services trade. They highlighted reforms to simplify procedures and reduce regulatory burdens through digital tools and enhanced stakeholder engagement. Members noted that GRPs support international trade while enhancing domestic competitiveness and consumer welfare.
There was broad recognition of international commitments' role in providing a stable framework for consolidating domestic reforms aimed at improving business environments. Members expressed interest in continuing experience-sharing and encouraged adopting WTO disciplines on services domestic regulation.
H.E. Ambassador Ram Prasad Subedi of Nepal emphasized that implementing GRPs is essential for regulatory reforms informed by experience and changing circumstances. He highlighted peer learning's value in supporting reform efforts.
Members continued efforts to advance instructions from the 2024 Ministerial Declaration to reinvigorate work on trade in services. The African, Caribbean, and Pacific Group introduced a submission on services trade's role in crisis response. Barbados, South Africa, and the United Kingdom proposed a thematic session on green services economy.
The WTO Least Developed Countries Group updated members on its request to conduct a survey on service suppliers' engagement with consumers globally. Engagement will continue to reach consensus on this issue.
The Council addressed concerns related to recent unilateral tariff measures. China highlighted overall trade balances when setting policy while expressing concerns about US tariffs' impact on supply chains. The United States noted China's restrictions in numerous sectors.
On June 11, Mr. Will Nixon of Australia was appointed Chair of the Committee on Trade in Financial Services. Members discussed organizing a session on "Facilitating Digital Payment Systems," building on proposals by China, India, Pakistan, and the Philippines.
Morocco submitted a proposal focusing on reducing cross-border remittance costs while emphasizing remittances' strategic importance for developing members' development.
Mr. Sirapat Vajraphai of Thailand was confirmed as Chair of the Committee on Specific Commitments during discussions focused on environmental services classification.
An event titled "Services Unbound — Digital Technologies and Policy Reform in East Asia" addressed barriers hindering innovation in key services within East Asia.