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India’s top industry bodies are attempting to build a coalition with counterparts in other nations with similar interests to give a fillip to country’s proposal for a Trade Facilitation in Services (TFS) Agreement at WTO level.
The proposed TFS pact aims to make it easier for professionals and skilled workers to move across borders for short-term work, as well as ensure portability of their social security contributions.
While services occupy growing share of domestic and international transactions, trade flows in services still remain subject to numerous border and behind-theborder barriers as well as procedural bottlenecks.
TFS Agreement is aimed at ensuring that the market access arising out of existing as well as future liberalisation commitments is effective & meaningful.