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Members of the World Trade Organization agree to cut red tape to boost trade in services.
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Scooped by Graham Watson |
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The WTO has concluded a deal to reduce red tape surrounding qualifications and licensing, with an eye on reducing trade costs and boosting global trade in services. It is estimated that this could reduce costs by as much as £113bn a year.
Interestingly, because the UK is the world's second largest service exporter, we may have the most to gain, not least with regard to financial services, although I'm struggling to see how being a member of the EU has limited our ability to strike deals like this. (A clue: it hasn't)