UPDATE 3-US says to negotiate services trade pact with EU, Japan, others

Tue Jan 15, 2013 4:39pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* U.S. is the world's largest services exporter

* Talks include mix of developed, developing countries

* China, India, Brazil have shunned services trade talks

By Doug Palmer

WASHINGTON, Jan 15 (Reuters) - The United States said on Tuesday it plans to negotiate an agreement with the European Union, Japan and 18 other economies to remove trade and investment barriers in services ranging from finance to express delivery.

Washington, the 27-nation EU and a mix of other developed and developing countries have been exploring the idea of launching talks on an International Services Agreement for nearly a year.

Big emerging countries like China, India, Brazil and Russia have shunned the talks. They say services negotiations should be part of a bigger discussion that includes agriculture and manufacturing trade barriers.

The Doha round of world trade talks, which began in 2001 and includes all three components, remains hopelessly deadlocked. That has prompted the United States to explore other options.

"Every $1 billion in U.S. services exports supports an estimated 4,200 U.S. jobs in America," U.S. Trade Representative Ron Kirk said in a letter notifying Congress of U.S. plans to launch services talks. "If business services achieved the same export potential as manufactured goods globally, U.S. exports could increase by as much as $800 billion."   Continued...