Professional Documents
Culture Documents
ON
The General Agreement __________ Trade
__________
IN Services (GATS) is the first and
only set __________
OF multilateral rules governing
international trade __________
IN services.
Negotiated __________
IN the Uruguay Round, it
was developed __________
IN response
__________
TO the huge growth __________
OF the
services economy __________
OVER the past 30
years and the greater potential __________
FOR
trading services brought __________
ABOUT
__________ the communications revolution.
BY
OF
Services represent the fastest growing sector __________
the global economy and account __________
FOR two thirds
__________
OF global output, one third __________
OF
global employment and nearly 20% __________ global
OF
trade.
OF
When the idea __________ ON
bringing rules __________
services __________
INTO the multilateral trading system was
floated __________
IN TO
the early __________ mid 1980s, a
OF
number __________ countries were sceptical and even
opposed. They believed such an agreement could
undermine governments’ ability to pursue national policy
objectives and constrain their regulatory powers. The
agreement that was developed, however, allows a high
OF
degree __________ flexibility, both __________
WITHIN the
OF
framework __________ rules and also __________
IN terms
__________
OF the market access commitments.
1. Any state or customs territory has full autonomy in the
conduct of its ______________
HAVING
2. trade policies may join the WTO, but WTO members
must agreed ________________
AGREE
3. on the terms. The application go through four stages:
First, the government _________
GOES
4. apply for membership has to describe all aspects of its
trade and __________________
APPLYING
5. economic politics that have a bearing on WTO
agreements. This is ________________
POLICIES
6. submit to the WTO in a memorandum which is examined
by the __________________
SUBMITTED
7. working party dealt with the country’s application.
Second, when the ______________
DEALING
8. working party have made sufficient progress on principles
and policies, ____________
HAS
9. parallel bilateral talks beginning between the prospective
new member and _________BEGIN
10. individual countries. Third, once the working party had
HAS
completed its _____________
11. examination of the applicant’s trade regime, the working
party finalise ____________
FINALISES
12. the terms of accession. Finally, the package, consists of
the report, _______________
CONSISTING
13. protocol and lists of commitments, are presented to the
WTO General ____________
IS
14. Council or the Ministerial Conference. If a two-third
majority of WTO ___________
THIRDS
15. members vote for favour, the applicant is free to sign the
protocol and ____________ IN
to accede to the organisation. In many cases, the country’s own parliament or
legislature has to ratify the agreement before membership is complete.