Third Bruges European Business Conference Trade and Investment Challenges for European Business 20 March 2012, College of Europe, Bruges
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1 In Partnership with: Third Bruges European Business Conference Trade and Investment Challenges for European Business 20 March 2012, College of Europe, Bruges Horizontal business issues of market access Pascal Kerneis Managing Director Table of content ESF Presentation Importance of services in international trade Which geographic markets should EU businesses mainly focus on? Which Services sectors stand to gain the most? How to achieve such liberalisation in services? How should business prepare for an increased access for non EU service providers?
2 Insurance Banking Business services: IT & Computer; consulting, advertising, after sales services, News Agencies Professional services: Legal services, Accountants, Architects, Engineers, etc. Construction services Distribution services Postal & Express Delivery Audio visual services Energy related services ESF Membership covers a large range of services sectors and Horizontal federations: For more information, see Environmental services Telecommunication services Tourism Air Transport Maritime Transport & BUSINESSEUROPE Confederation of Danish Industries (DI) Confederation of Finnish Industries (EK) Confederation of Swedish Enterprises (SN) Irish Business and Employers Confederation (IBEC Confederation of French Enterprises (MEDEF) ESF MEMBERS INCLUDE: For more information, see
3 THE IMPORTANCE OF THE EU IN GLOBAL SERVICES TRADE If we take intra and extra EU together, EU export of services represent 42% of global export of services EU is by very far the biggest exporter of services: 24% of world export of services Services Exports in Millions $US - Source: World Bank & WTO Outflows of FDI to the world - $ Billion Source: OECD Share of EU in World FDI Outflows Share of services in EU FDI 70% 70% 70% 53% 54% Extra EU outward FDI stock of the EU - Billion Source: Eurostat
4 DDA+ Market access level «The «The voice voice of of the the European European Service Service Industries Industries for for International International Trade Trade Negotiations Negotiations in Services in Services»» 1) Which geographic markets should EU businesses mainly focus on?. Ukraine. Morocco. Egypt. Georgia. Jordan. Moldova. Tunisia (EU Acquis ) Only 30 Countries, not 153 WTO Members! China Taiwan Saudi Arabia Vietnam Ukraine Cambodia Russia Kazakhstan (?) CariForum (15) Korea Columbia Peru Central America (6) Mercosur (4)(?) Mexico Chile Canada India Singapore Malaysia Japan (?) Indonesia (?) Thailand(?) Vietnam (?) Philippines (?) Taiwan (?) WTO UR ( ) DDA Offers (July 2008) WTO Accession since 2001 Old EU FTA US FTA + US Parity Market Acc + Public Proc + Mode 4 + New EU FTAs Market Acc + Public Proc.+ IPR + BIT + SOE + Reg. Coop. + Multilateral Bilateral EU Bilateral Trade Agreements Canada Ukraine USA Georgia, Moldova Korea Japan Mexico Colombia Peru Chile Cariforum (15) Central America (6) Mercosur (4) EPAs +/-50: WAEMU CEMAC COMESA EAC SADC GCC suspended EU: (27) Implemented FTA: (18) Concluded FTA: (9) EPAs with ACP: (64) FTA under negotiations : (18) Scoping Exercise : (7) India Vietnam Thailand Singapore & Malaysia Indonesia Philippines The EU FTA Negotiations are covering a very large number of countries, including key emerging countries (Russia PCA, BIT with China?) EPA Pacific (14)
5 2) WHICH SERVICES SECTORS STAND TO GAIN THE MOST? (1) Horizontal issues: FDI/investment: All sectors should gain! Protection = investor to state dispute Competition policy = M&A legislation Public procurement : transparency and access for services companies (architecture, engineering, urban planning, etc.), ICT services, environmental services (water, waste, etc.), energy services, catering services, cleaning services, business services, etc. auditing and accounting, transport services, etc.) Movement of highly skilled services providers (Mode 4) Professional cards? Like APEC Card, or GATS Visa? Horizontal Regulatory Cooperation Chapter = Better regulation transparency, Publication of all legislation and regulations Right of appeal; prior consultation, early warning mechanism, etc Better government and Corporate governance 2) WHICH SERVICES SECTORS STAND TO GAIN THE MOST? (2) Main barriers to FDI/Establishment (Mode3) in Services Sectors: Obligation to enter the market through joint venture Limitations on capital ownership Limitations on licences allotted to foreign companies Restrictions on branching, on legal form of establishment Local employment requirements Restrictions on real estate access Most of the services sectors are impeded in doing business because of these barriers, but the sectors which probably would gain the most are: Banking; Insurance; Telecommunication; Distribution (retail & wholesale); Express delivery; Legal and Accounting services; Environmental, Energy
6 3) How to achieve such liberalisation in services? Continue to push for DDA? (Single undertaking with trade off deals) In favour of a Plurilateral in Services? On MFN basis? (GATS Art. XIX Free riders? Critical mass?) On non MFN basis? (GATS Art. V) In favour of sector specific plurilateral? IDEA? ICT sector = All related issues: tariffs, NTBs, telecom and computer related services, investment, IPR, Public Procurement? Financial services? Maritime services? (Legal basis?) Continue to support ambitious deep and comprehensive FTAs with countries of the willing Japan? ASEAN? USA? 4) What could change for EU businesses as a result of liberalisation and increased access to the EU market for non EU service providers? How should business prepare? The EU is already relatively open (market access, national treatment and also in Public procurement) Obviously more can be done, and must be done to improve the services single market The EU Businesses welcome investment and competition from foreign companies It creates jobs and growth in the EU It obliges our companies to remain competitive and innovative
7 Thank you for ATTENTION! Pascal KERNEIS Managing Director European Services Forum ESF 168, Avenue de Cortenbergh B 1000 BRUSSELS Tel: Fax: esf@esf.be Website:
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