International Trade in Services: Effective Practice and Policy

U.S. and European firms generated the highest revenue in Africa's architecture and engineering firms in 2012, with a 27 and 31 percent share, respectively. International Trade in Services: Effective Practice and Policy highlights the importance of the export and import of services in international trade, with the US having a US$269 billion surplus in trade in services with the world. The book provides a step-by-step process to export a service from research to strategy to implementation, highlighting the opportunities presented by the international-level General Agreement on Trade in Services (GATS) and bilateral and regional-level reciprocal trade agreements.

Format: Paperback / softback
Length: 184 pages
Publication date: 15 April 2021
Publisher: Taylor & Francis Ltd

In 2012, U.S. and European firms dominated the revenue generated by the top international architecture and engineering firms in Africa, accounting for 27 and 31 percent, respectively, according to a U.S. International Trade Commission trade brief. These findings indicate that the growth of company revenues in an overseas market extends beyond the sale of manufactured products or agricultural commodities. Opportunities also exist for service providers.

International Trade in Services: Effective Practice and Policy sheds light on a reality that often goes unnoticed in the current discourse on international trade—the significant role played by the export and import of services in driving global trade. The United States boasts a trade surplus in services with the world, totaling US$269 billion. Conversely, U.S. trade in goods continues to suffer from a substantial trade deficit, amounting to US$946 billion. However, U.S. policy responses primarily focus on the manufacturing and agricultural sectors. Furthermore, as an international trade educator in business schools at various universities, many textbooks emphasize the various aspects of importing and exporting goods. Workshops designed to educate and inform the business community also revolve around trade in goods. Consequently, business students and practitioners overlook another crucial component of international trade that presents abundant opportunities—trade in services.

The book offers a straightforward yet comprehensive introduction to exporting a service to an overseas market. It guides its audience with a step-by-step process, from research to strategy to implementation, to guide them in exporting a service successfully. Furthermore, the book highlights the opportunities offered by the international-level General Agreement on Trade in Services (GATS).

By delving into the intricacies of international trade in services, International Trade in Services: Effective Practice and Policy provides valuable insights for business students, practitioners, and policymakers alike. It underscores the importance of recognizing the diverse nature of trade and the potential for service providers to contribute to global economic growth. The book serves as a valuable resource for anyone seeking to expand their understanding of the global marketplace and explore the opportunities available in the service sector.

Weight: 382g
Dimension: 178 x 251 x 16 (mm)
ISBN-13: 9780367462642