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Global services trade affected by Covid-induced travel curbs: WTO report

With the limited exception of individuals working in "essential" sectors, all such trade that relies on the cross-border movement of individuals has effectively come to a halt

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So far as other services are concerned, the most obvious impact is on the mobility of service consumers, or mode 2 of the General Agreement on Trade in Services

Indivjal Dhasmana New Delhi
Covid 19-induced travel restrictions have had a devastating impact on the global services trade, said a report by the World Trade Organization (WTO).

This was despite Mode 4 Trade, which allowed cross-border movement of individuals, accounting for just three per cent of the world services trade, according to the report.

This mode of supply is important for certain members and certain sectors, such as professional and other business services, it said in the report, titled Cross-border Mobility, Covid-19 and Global Trade.

"For instance, in 2017, even though the dominant export mode was cross-border supply (mode 1), some 13 per

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First Published: Aug 27 2020 | 3:16 PM IST

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