MODERN TRENDS IN MULTILATERAL REGULATION OF INTERNATIONAL MARKETS SERVICES

Abstract

One of the main world economy's trends is the priority development of the service sector. Services, capital, information and technology flows typically fall outside the scope of regulation of national governments. The particular relevance to the issues of international legal regulation of international services market, therefore. Multilateral regulation of trade in services defined key provisions of the General Agreement on Trade in Services (GATS). The role of GATS (within the WTO) is very important nowadays, because the agreement defines the legal framework for trade in services, including in areas such as transport, investment, education, communications, financial services, energy, water and movement of natural persons. Intensive growth of international trade in services has caused the need for the creation of supranational institutions and a new level. The heist level of services liberalization achieved under such integration organizations as the EU, NAFTA, OECD and UNCTAD for assistance. One of the main trends in multilateral trade regulation is increase the share of regional trade agreements in the total volume of international trade cooperation.

Keywords

• services
• international market regulation
• regionalization
• liberalization