International Standards Called For to Boost Development in Trade Services
The advancement of trade in services necessitates the establishment of international standards.
TroibNews 
Editor's note: Sung Hwan Cho is the president of the International Organization for Standardization. This article is his speech given at the ongoing 2024 China International Fair for Trade in Services in Beijing on Saturday. It has been edited for brevity and clarity.
The sector of trade in services has recently emerged as the fastest-growing component of international commerce, outpacing the trade in goods sector. This growth has been particularly significant in developing countries and transitional economies, enhancing their contribution to global trade.
With the expansion of this sector, there arises a critical need for standards that promote best practices, maintain high-quality services, and boost consumer confidence. Policymakers are now tasked with assessing the adequacy of existing trade regulations and addressing new risks through targeted regulations. In this milieu, international standards become vital to streamline these processes.
Adoption of these standards can greatly facilitate trade by offering a universal framework and language that countries worldwide can recognize and adopt. They play a pivotal role in simplifying regulatory processes and advancing mutual recognition between nations, which is essential in the diverse and fast-evolving services sector.
The International Organization for Standardization, through its 172 members, formulates global standards that epitomize excellence, ensuring dependability, safety, and quality. Employing a collaborative approach with various stakeholders, ISO establishes benchmarks that aid in simplifying decisions, fostering trust, and enhancing global commerce. This collaboration yields significant benefits across economic, environmental, and social spheres.
International standards correspond with the General Agreement on Trade in Services. This agreement represents the first of its kind to encompass service trade and includes 162 member countries and customs territories of the World Trade Organization. While it seeks to ease the liberalization of service sectors, the progression of negotiations within the WTO persists.
As negotiations continue, WTO members are compelled to adopt interim measures ensuring new service regulations in liberalized sectors do not become obstructive trade barriers. Adherence to international standards by WTO members is thus presumed to be in conformity with such regulations.
ISO standards ensure that service regulations align with global trade goals, covering crucial sectors like management consultancy, tourism, education, and learning services.
China has notably propelled its service industries through standardization, a prime example being its contributions to the ISO Technical Committee on Tourism and Related Services. This committee has produced standards in various areas such as tourist information and online travel services, highlighting the critical relationship between trade development and standard cooperation.
All global trade in services stakeholders are encouraged to integrate ISO standards into their strategic frameworks, which will support a more prosperous, sustainable future for everyone.
Rohan Mehta for TROIB News
The sector of trade in services has recently emerged as the fastest-growing component of international commerce, outpacing the trade in goods sector. This growth has been particularly significant in developing countries and transitional economies, enhancing their contribution to global trade.
With the expansion of this sector, there arises a critical need for standards that promote best practices, maintain high-quality services, and boost consumer confidence. Policymakers are now tasked with assessing the adequacy of existing trade regulations and addressing new risks through targeted regulations. In this milieu, international standards become vital to streamline these processes.
Adoption of these standards can greatly facilitate trade by offering a universal framework and language that countries worldwide can recognize and adopt. They play a pivotal role in simplifying regulatory processes and advancing mutual recognition between nations, which is essential in the diverse and fast-evolving services sector.
The International Organization for Standardization, through its 172 members, formulates global standards that epitomize excellence, ensuring dependability, safety, and quality. Employing a collaborative approach with various stakeholders, ISO establishes benchmarks that aid in simplifying decisions, fostering trust, and enhancing global commerce. This collaboration yields significant benefits across economic, environmental, and social spheres.
International standards correspond with the General Agreement on Trade in Services. This agreement represents the first of its kind to encompass service trade and includes 162 member countries and customs territories of the World Trade Organization. While it seeks to ease the liberalization of service sectors, the progression of negotiations within the WTO persists.
As negotiations continue, WTO members are compelled to adopt interim measures ensuring new service regulations in liberalized sectors do not become obstructive trade barriers. Adherence to international standards by WTO members is thus presumed to be in conformity with such regulations.
ISO standards ensure that service regulations align with global trade goals, covering crucial sectors like management consultancy, tourism, education, and learning services.
China has notably propelled its service industries through standardization, a prime example being its contributions to the ISO Technical Committee on Tourism and Related Services. This committee has produced standards in various areas such as tourist information and online travel services, highlighting the critical relationship between trade development and standard cooperation.
All global trade in services stakeholders are encouraged to integrate ISO standards into their strategic frameworks, which will support a more prosperous, sustainable future for everyone.
Rohan Mehta for TROIB News
