February 27, 2024

New disciplines on good regulatory practice for services trade enter into force

The entry into force of new disciplines on services domestic regulation, announced at the 13th Ministerial Conference (MC13) in Abu Dhabi on 27 February, is expected to lower trade costs by over USD 125 billion worldwide. The announcement was made at an event attended by Director-General Ngozi Okonjo-Iweala, MC13 Chair Thani bin Ahmed Al Zayoudi and participating members in the Joint Initiative on Services Domestic Regulation, represented by Costa Rica’s Foreign Trade Minister, Manuel Tovar, and the European Commission’s Vice-President Valdis Dombrovskis.

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