In your view, what kind of regulatory framework is needed, especially in the developing world, to allow service providers to develop to their full potential?

Thank you very much.

And thank you for that question.

So let me just offer some stats that the WTO has produced.

As we know, services sector is growing and is exploding, especially in developing countries.

Services account for more than two thirds of the world GDP and services are projected to grow at around 5% this year.

But we also see that developing countries are not homogenous, right? We have LDCs that account for about less than 1% of global services export, while larger developing countries like India and those that are services focused like Singapore feature in the top 10 leading services exporting economies in the world.

I think there is a role for the WTO as well that I think is often overlooked.