Trade in Services Agreement (TISA)

By: Harveer Singhtwitter.com/iastoss+91-880-2009-420

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Trade in Services Agreement (TISA)

• Launched in April 2013, The Trade in Services Agreement (TiSA) is a proposed international trade treaty between 24 Parties, including the European Union and the United States.

• Tisa aims at opening up markets and improving rules in areas such as licensing, financial services, telecom, e-commerce, maritime transport, and professionals moving abroad temporarily to provide services. Together, the negotiating countries, including the US and the European Union, account for 70% of world trade in services.

• Tisa has three contentious clauses—standstill, ratchet and MFN (most favoured nation)-forward.

• ‘Standstill’ binds the current level of domestic liberalization in services that a country cannot reverse in future.

• ‘Ratchet’ implies that future domestic policy changes by a member country will also automatically get committed under Tisa.

• ‘MFN-forward’ means any future concession given to a trading partner under a bilateral treaty will automatically get extended to other members of Tisa.

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