The General Agreement on Trade in Services (GATS) is a treaty of the World Trade Organization (WTO) that entered into force in January 1995 as a result of the Uruguay Round negotiations. The treaty was created to extend the multilateral trading system to service sector, in the same way the General Agreement on Tariffs and Trade (GATT) provides such a system for merchandise trade.
All members of the WTO are signatories to the GATS. The basic WTO principle of most favoured nation (MFN) applies to GATS as well. However, upon accession, Members may introduce temporary exemptions to this rule.
Read more about General Agreement On Trade In Services: Historical Background, Four Modes of Supply, Sectors Addressed, Criticisms
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“Could anything be more indicative of a slight but general insanity than the aspect of the crowd on the streets of Chicago?”
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Or trade the memory of this night for food.
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“I see this evident, that we willingly accord to piety only the services that flatter our passions.”
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