As the services sector has gained increasing importance over the last decade, contributing a growing share to GDP and employment in all countries. The event brought together high level policy makers (including ministers), trade negotiators, practitioners, private sectors, services associations and coalitions, academics as well as other interested organizations to deliberate on promoting inclusive and sustainable services sector development and trade. The participants discussed and debated the following:
(ii) Strategies and policy measures to build services productive/export capacity and remove barriers to services export with particular focus on developing countries.
(iii) 21st century issues in the services sector, with focus on key sectors such as financial services, business, ICT services, education and infrastructure management.
(iv) Identify and share successful and innovative best fit policies, and lessons learnt that could be up-scaled and replicated.
Dr. Mukherji spoke on the potential of ICT services trade and how it can be lever for sustainable and inclusive growth. He highlighted that current global trade of more than USD 109 billion in ICT sector holds is contributing to significant level of job creation in developing countries. He stressed the fact that ICT investments lead to economic development, social upliftment and poverty reduction in emerging economies. He indicated that forecast suggest, over the next few decades with the growth of BRICS economy and changing demography in different geographies, the direction of trade flow and nature of services traded in ICT sector will undergo a shift. Given the importance and growth potential of services trade, he suggested the need to have a special cell within the UNCTAD, to promote the sector.
The participants discussed and made suggestions on capacity building and trade partnership that would promote services trade and enhance development of trade with emerging economies.
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About United Nations Conference on Trade and Development (UNCTAD)
Established in 1964, UNCTAD promotes the development-
The organization works to fulfill this mandate by carrying out three key functions
• It functions as a forum for intergovernmental deliberations, supported by discussions with experts and exchanges of experience, aimed at consensus building.
• It undertakes research, policy analysis and data collection for the debates of government representatives and experts.
• It provides technical assistance tailored to the specific requirements of developing countries, with special attention to the needs of the least developed countries and of economies in transition. When appropriate, UNCTAD cooperates with other organizations and donor countries in the delivery of technical assistance.
For more information about UNCTAD, please visit http://www.unctad.org
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