What Is Trade Service And Why It Is Important

Basically, trade service is a transaction between a producer and a consumer in which an intangible service is sold or provided. It also refers to the sale of such a service between different countries, and the delivery of such a service to a consumer, whether in the same country or abroad.

Commercial presence

Generally speaking, Commercial presence is the supply of a service by a service provider in another country. This could be achieved through a company setting up a branch in another country, or by a foreign national supplying a service from their home country to a foreign market.

The US Foreign Affiliate Trade Statistics (FATS) program collects and analyses data on the activities of domestically owned firms operating in foreign economies. It is based on annual sample surveys of US direct investment abroad. The statistics are published by the US Bureau of Economic Analysis. The program includes the following topics: sales, goods, foreign affiliates, foreign owners, operations, foreign ownership, and foreign operations.

It is also useful to note that the US commercial presence statistics are based on the sales of US majority owned affiliates abroad. Similarly, the Australian Economic Activity of Foreign Owned Business in Australia (AEFABEA) includes estimates of commercial presence trade.

Mode of supply

Until recently, Statistics Canada did not measure trade in services by mode of supply. However, trade analysts and trade negotiators have expressed a strong desire for more detailed data. They believe this information would enable them to better understand services trade and to monitor the impact of services trade agreements.

The General Agreement on Trade in Services (GATS) defines services as “transactions between residents of one country and nonresidents of another country.” GATS defines four modes of supply. Mode 1 includes “commercial presence.” Mode 2 includes “temporary movement of natural persons.” Mode 3 includes “commercial presence plus supply of services to a different member than commercial presence.” Mode 4 includes “presence of natural persons.”

Statistics Canada has commenced work on developing new estimates of trade in services by mode of supply. The Office for National Statistics (ONS) commissioned a project to investigate whether it would be possible to ask businesses directly for data on modes of supply. The project reviewed experiences with collecting data in other countries. The project found that the best approach would be to collect data through existing survey activities.

Consumption abroad

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Indian Trade Service

ITS is a civil service of the Government of India. It is a group A service and is controlled by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. Its main task is to facilitate trade between India and other countries. The department interacts with other central and state government departments, international agencies and the World Trade Organisation.

It is organized into nine divisions. The Trade Policy Division deals with trade negotiations at the multilateral forum of the World Trade Organisation (WTO). The Directorate General of Anti-Dumping (DGAD) investigates anti-dumping cases. There are more info at LiveSG.

The Department of Commerce formulates and implements policy for the promotion of international trade. It interacts with other departments, international agencies and the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP). It also negotiates trade agreements at multilateral and bilateral levels.

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