Moldova and other WTO member countries will simplify licensing requirements and procedures for service providers.
The government has reviewed draft amendments to the list of specific commitments of Moldova under the General Agreements on Trade in Services (GATS) to be included in the Declaration of the World Trade Organization Ministerial Conference on finalization of negotiations on internal regulations in the services sector. These changes to the list of commitments will allow the inclusion of new rules and procedures for the licensing of services companies in many WTO member states. They will facilitate trade in services, improve the business climate, and lower trade costs and broader commercial benefits. Negotiations on the initiative, which involves the development of a reference document on domestic services regulation, were completed on December 2, 2021. The document was signed by 67 WTO member countries, which account for more than 90% of global services trade. The Ministry of Economic Development and Digitalization notes that trade in services is the largest and fastest-growing sector of the modern economy, so the rules and procedures of operation must be as accessible and transparent as possible so as not to jeopardize trade in services and suppliers in areas such as financial services, communications services, construction, transport. //23.02.2023 - InfoMarket.
