OECD, WTO issue joint study on economic benefits of new services domestic regulation deal

The Organisation for Economic Co-operation and Development (OECD) and the WTO released on 26 November a trade policy brief highlighting the economic benefits that would result from a new deal on services domestic regulation being finalised by a group of 67 WTO members. The study finds that annual cost savings in services trade could amount to USD 150 billion globally due to a reduction in red tape and increased transparency, with particularly important gains for financial, business, communications and transport services.