‘Trade in services’ is the exchange of intangible goods or services between a producer and consumer in different countries. The term ‘trade in services’ can also refer to the sale or delivery of intangible goods or services, or the delivery of intangible goods or services, which are not considered as goods.
Estimates of the proportion of services allocated to each mode of supply
Until recently, Statistics Canada did not produce estimates of the proportion of trade in services by mode of supply. The requisite data were derived from balance of payments data and other ad hoc sources. The resulting data set contains several categories of services, with each type of service having a distinct mode of supply. A quick perusal of the list reveals that computer services, travel, and maintenance account for the largest percentages of trade, while research and development and financial services comprise the smallest.
In the service industry, a sizable percentage of Canadian firms are majority foreign owned. In 2015, the foreign owned service sector contributed $577.4 billion to the national economy. Moreover, firms of all sizes engaged in the trade of services, albeit in varying numbers. Trade policy makers and trade negotiators alike have been clamouring for a comprehensive dataset on trade in services. Fortunately, Statistics Canada is working to rectify the glaring data gap in the service industry.
Various duties of a trade service officer
Various duties of a trade service officer include coordinating foreign trade for the Indian government. They also conduct policy level studies for future policy making. They are also the conduit between state government initiatives and central government schemes. They act as a sort of quasi-judicial authority in cases pertaining to foreign trade.
The Department of State, for instance, has a relatively small staff in Washington, DC, but has representation in over 160 countries. The department also provides a variety of services to its constituents, including a number of international organizations.
The Department of State has a long and distinguished history. It is the oldest “multinational corporation” in the United States. Its personnel have a wealth of experience, including the most important: negotiating with foreign governments.
The department’s most senior officer, the Secretary of State, reports to the President of the United States. He is assisted by the Special Secretary and Financial Adviser and a number of other senior officers.
Indian Trade Service
ITS (Indian Trade Service) is the Central Organized Group ‘A’ Civil Service of the Government of India. ITS officers help promote international trade and facilitate the growth of India’s trade in goods and services. They are involved in formulation of foreign trade policy, negotiation of international trade agreements, and facilitating creation of an enabling environment for trade. They also play a role in protecting the country’s trading community.
The ITS is handled by the Directorate General of Foreign Trade (DGFT), which is an attached office of the Ministry of Commerce. ITS officers are recruited through the UPSC Civil Services Examination. The selection process is regulated by the Indian Trade Service Recruitment Rules.
ITS officers are responsible for negotiating international trade agreements, conducting policy-level studies, and conducting trade policy negotiations for India at the multilateral forum of the World Trade Organization. They are also assigned to specific export promotion strategies for the states. They work with international organizations and other ministries, including the Ministry of Agriculture, the Ministry of Communications and Information Technology, the Ministry of Home Affairs, and the Ministry of External Affairs. They also serve in global organisations, such as the UN Economic and Social Commission for Asia and the Pacific (UNESCAP) and the WTO.
OECD STRI is a database of policies and regulatory measures that affect services trade. The database captures quantitative information on de jure and de facto measures. This information helps governments to understand the impact of services trade policies and negotiate international agreements. In addition, it can help businesses shed light on the requirements of foreign markets.
The STRI database was developed by Janos Ferencz, an OECD trade policy analyst. He has also contributed to research on cross-border data flows and the trade implications of artificial intelligence. Currently, he is working on the trade implications of digitally enabled services.
The STRI toolkit helps policymakers to understand the restrictions and the potential reform options. The database includes a series of maps that show the current status of tariff-rate quotas, market access, and trade regulations. These maps also provide information on competitors and international demand. This data can be freely used. Know more about it through Live Services Group.
In addition, the STRI database provides a number of tools that help businesses to shed light on the requirements of foreign markets. These tools include a dynamic web tool (the Manufacturing Industry Tracker) that tracks key economic indicators across 21 sectors of manufacturing. This information is updated monthly.