The OECD is a steadfast promoter of open markets and a rules-based international trading system in good working order. This is based on the overwhelming evidence of the multiple benefits of trade and market openness, which go hand-in-hand with better economic performance in countries at all levels of development. Trade creates opportunities for workers, consumers and firms and has helped lift millions out of poverty. Trade lowers prices and increases choices, enabling access to goods and services that would otherwise be unavailable or costly.
Open economies grow faster than closed ones, while wages and working conditions are better in companies that trade. Rules-based trade enables opportunities for all countries, providing the predictability and certainty needed for the private sector to invest and create jobs.
The OECD is helping to bring the importance of services trade reforms to the forefront of policy discussions with our unique evidence base and policy best practices. The OECD STRI and related tools has already been a trusted companion to numerous countries’ efforts to develop comprehensive services reform packages, identify low hanging fruit, and design tailor-made strategies to enhance the competitiveness of domestic services industries.
To enable the benefits of greater services trade in the future, two key ingredients will be essential: closer cooperation internationally and a whole-of-government strategy domestically. While there is no “one size fits all” solution, countries must work together to address common challenges, reduce regulatory barriers, and ensure interoperable regulatory frameworks, including through standards and mutual recognition frameworks. Domestically, a whole-of-government approach will be crucial, involving coordination among various governmental departments to create cohesive and comprehensive policies.
By fostering international cooperation and leveraging a unified domestic strategy, countries can create a more predictable, transparent, and efficient regulatory environment, thereby enhancing global trade in services, driving innovation, and promoting economic growth.
The scope of regulatory reforms presented in this report provide a unique roadmap for governments to develop ambitious strategies. Moreover, countries joining forces on revitalising services trade discussions in international fora, including at the WTO and the OECD, will be key to achieve meaningful progress that can bring benefits to consumers and workers. The OECD will continue to work with governments, the private sector, and all interested stakeholders to inform these discussions on the future of services trade and provide evidence-based analysis and data.