in Services Investor export to certain countries or region general obligations -Obligations which should be Requirement that the applied to all services sector at the entry into force investor use earnings from exports to pay fo of the agreement. Imports Initial commitments- Trade liberalizing TRIMS-Trade-related investment measures members are modes of delivery -How international trade in Appellate Body -An independent seven-pers services is supplied and consumed. Mode 1 body that, upon request by one or more parties to border supply; mode 2: consumption abroad; mode the dispute, reviews findings in panel reports 3: foreign commercial presence; and mode 4: automaticity-The“ automatIc” chronological movement of natural persons progression for settling trade disputes in regard to multi-modal- Transportation using more than one ode. In the gaTS negotiations, essentially door-to-door services that include international DSB- Dispute Settlement Body- when the shipping WTO General Council meets to settle trade national schedules- The equivalent of tariff schedules in GAtT, laying down the cor DSU-The U Round Understanding on accepted- voluntarily or through negotiation Rules and Procedures Governing the Settlement of by WTO members D natural persons-People, as distinct from juridical country's benefits and expectations from its WTO offer-A country's proposal for further membership through another countrys change liberal ization its trade reg failure to carry out its WTO ocols -Additional agreements attached to the GATS. The Second protocol deals with the 1995 obligations nancial services. The Third anel- Consisting of three experts, this Protocol deals with movement of natural persons independent body is established by the dsb to prudence, prudential -In financial services, terms examine and issue recommendations on a particular used to describe an objective of market regulation dispute in the light of WTO provisions by authorities to protect investors and depositors, to schedule -"Schedule of Specific Commitments accounting rate-In telecoms, the charge made by A WTO members list of commitments one country's telephone network operator for calls regarding market access and bindings regarding specific commitments- See"schedule or subsidiary in a foreign country GATS-The WTO's General Agreement on Trade Regionalism/trade and development44 product-mandating — Requirement that the investor export to certain countries or region. trade-balancing measure — Requirement that the investor use earnings from exports to pay for imports. TRIMS — Trade-related investment measures. Dispute settlement Appellate Body — An independent seven-person body that, upon request by one or more parties to the dispute, reviews findings in panel reports. automaticity — The “automatic” chronological progression for settling trade disputes in regard to panel establishment, terms of reference, composition and adoption procedures. DSB — Dispute Settlement Body — when the WTO General Council meets to settle trade disputes. DSU — The Uruguay Round Understanding on Rules and Procedures Governing the Settlement of Disputes. nullification and impairment — Damage to a country’s benefits and expectations from its WTO membership through another country’s change in its trade regime or failure to carry out its WTO obligations. panel — Consisting of three experts, this independent body is established by the DSB to examine and issue recommendations on a particular dispute in the light of WTO provisions. Services accounting rate — In telecoms, the charge made by one country’s telephone network operator for calls originating in another country. commercial presence — Having an office, branch, or subsidiary in a foreign country. GATS — The WTO’s General Agreement on Trade in Services. general obligations — Obligations which should be applied to all services sector at the entry into force of the agreement. Initial commitments — Trade liberalizing commitments in services which members are prepared to make early on. modes of delivery — How international trade in services is supplied and consumed. Mode 1: cross border supply; mode 2: consumption abroad; mode 3: foreign commercial presence; and mode 4: movement of natural persons. multi-modal — Transportation using more than one mode. In the GATS negotiations, essentially door-to-door services that include international shipping. national schedules — The equivalent of tariff schedules in GATT, laying down the commitments accepted — voluntarily or through negotiation — by WTO members. natural persons — People, as distinct from juridical persons such as companies and organizations. offer — A country’s proposal for further liberalization. protocols — Additional agreements attached to the GATS. The Second Protocol deals with the 1995 commitments on financial services. The Third Protocol deals with movement of natural persons. prudence, prudential — In financial services, terms used to describe an objective of market regulation by authorities to protect investors and depositors, to avoid instability or crises. schedule — “Schedule of Specific Commitments” — A WTO member’s list of commitments regarding market access and bindings regarding national treatment. specific commitments — See “schedule”. Regionalism/trade and development