General Agreement on Trade in Services (GATS)

The General Agreement on Trade in Services (GATS) is a treaty established by the World Trade Organization (WTO) that aims to create a global framework for trade in services. It covers areas such as banking, telecommunications, and tourism, allowing countries to negotiate commitments on how they will regulate and open their markets to foreign service providers. By promoting transparency and fairness in the trade of services, GATS seeks to enhance international cooperation, boost economic growth, and provide consumers with greater access to a variety of services across borders.