Switzerland: Group of 67 nations in WTO agree to cut red tape in services trade
GENEVA, Dec 2 (Reuters) - Sixty-seven World Trade Organization members agreed on Thursday to pare back regulations such as licensing requirements placed on service providers operating in foreign countries, a move that could save $150 billion in annual trade costs.
The group of developed and some developing countries from Peru to the Philippines committed to greater transparency, legal certainty and an easier regulatory process with electronic applications and clear and reasonable fees.