The World Trade Organisation has stated that there is a need for improved collaboration among developing countries to boost services trade.
A report titled “Trade in Services for Development”, which was sponsored by WTO and World Bank, said the growth of developing economies’ services exports had exceeded the world average over the past two decades but more needs to be done to fully realise the contribution of services trade to development.
In her remarks, Okonjo-Iweala said, “The future of trade is services, digital and green and it must be inclusive. This new publication translates that conviction into a call for action. It documents how services trade has become a key ingredient in our members’ growth and development strategies, including by helping countries diversify and expand their export baskets, making them more resilient to external shocks.
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