Joint WTO-World Bank work programme on trade in services unveiled at Aid for Trade Review

The joint work programme seeks to tackle some of the challenges that developing economies are facing in unlocking the benefits of services trade and harnessing the sector's export potential. 

"For many developing countries, prospects for export-led growth now lie to a much greater extent in services," DDG Hill noted. "The ability to supply, access and export efficient services has become central to the realization of development strategies."

"This session marks a key step in the WTO and the World Bank collaboration on services trade. Together, we are taking concrete actions to advance a 'Trade in Services for Development' initiative."

"Trade in Services for Development" underscored the significant and multifaceted development impact of trade in services and the important opportunities it offers developing economies. The report said increased levels of Aid for Trade in services are required to help developing economies take fuller advantage of the growth and development opportunities presented by services trade. 

The announcement was made during a session of the Global Review on the development promise of trade in services. Moderated by Mona Haddad, the World Bank's Global Director for Trade, Investment, and Competitiveness, the session also featured Kerrie D. Symmonds, Barbados' Minister of Foreign Affairs, Ambassador Simon Manley from the United Kingdom, Ambassador Mere Falemaka from the Pacific Island Forum Secretariat, and Bernard Hoekman, Professor at the European University Institute.

This initial work programme is composed of four related components. The first is the preparation of a user-friendly Competitiveness Diagnostic Tool to help developing economies assess their competitive strengths and weaknesses in services trade, define their overarching national services trade policy objectives, and identify and prioritize technical assistance needs.  

The second and third components seek to overcome data constraints by providing assistance in the mapping out of core services trade measures and by building the capacity of developing economies to produce and use statistics on services trade and improve their quality.  The fourth component aims to identify best practices in the export promotion of services so as to assist the efforts of developing economies to expand and diversify their services exports. 

"The proposed work programme contains ingredients that will allow to make a real difference," DDG Hill said. "We need to help countries take advantage of the growth opportunities not only of today, but also of tomorrow. And that's services trade. Aid for Trade will be a pivotal element in transforming the development promise of services trade into concrete benefits."

DDG Hill and Mona Haddad noted that success would depend not only on interest from developing economies but also on mobilizing support from donors, like for other Aid-for-Trade initiatives.

The programme is based on initial feedback received from developing economies and in regional events conducted in partnership with other international organizations. The World Bank and the WTO will seek to cooperate with other organizations – in particular regional economic commissions and development banks – in carrying out the work programme.