International Trade in Services.pdf - DSpace at Khazar University

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186 International Trade in Services Figure 6.4. Commercial Presence of Large International Contractors in Foreign Markets 90 number of top 225 international contractors active in market 80 70 60 50 40 30 20 10 QAT USA DZA SAU RUS SGP IND CHN OMN HK KWT ITA PAK ESP SDN MAR IRN BEL FRA VEN PRT NLD BGR IRL YEM AZE UK RCZE KOR GRC GIN SVK GHA LKA HUN ZAF ARG COG BHA TUN CHE JPN ZMB KEN PER AUS SWA ALB CMR ECU NOR MOZ TZR MNG AFG BGD COL DNK LAO NPL UGA BWA PAN BO CRI HRV FIN SEN TKM UZB RWA BEN GABBHI LBN SYR ISR ZWT PNG COD LTU EIK KGZ SLVBRY NZL BDI HND SUN LBR MWI NIC SLE SUR ARM NER PFN CNV BRN CPL BLR GMB GUY SWZ BFAKLA VSO PRY EST AUS VNM IDN MEX THA CAN GBR EGY LBY KAZ MYS POL PHL ROU TUR NGA AGO CHL BRA DEU 0 8.5 9.5 10.5 11.5 12.5 13.5 log of GDP (2007 US$) ARE Sources: ENR (2008), PovcalNet, authors’ calculations. The number of large international contractors in a market is not a perfect proxy for their combined market share. Yet, it is likely to be a reasonable indicator of the openness of the domestic market, particularly if the market is sizable. Some of the more extreme outliers in figure 6.4 are Algeria, Guinea, Japan, Qatar, and the United Arab Emirates. Guinea has a large number of Chinese construction companies, and there is a strong presence of Chinese companies in several other African economies (see box 6.4). Algeria, Qatar, and the United Arab Emirates are medium-size economies with large numbers of international contractors. These countries are large-scale investors in construction projects, many of which are in the petroleum sector, while others are financed by income from the petroleum sector. Japan, the world’s second largest economy, hosts comparatively few foreign contractors (see CLR News 2006 for an overview of the Japanese construction sector).
Building Empires Overseas 187 The current global economic downturn is, in the short term, likely to result in a significant setback in the expansion of trade in construction services. In the mediumandlongterm,theprospectsforgrowthwillbecomemorepositiveasthe global economy starts to pick up again. Interest rates around the world have fallen to historically low levels in many countries. The reduced cost of capital should have a positive impact on private sector investment in construction projects, particularly when banks are ready to return to business as usual. Fiscal expansion programs in some of the world largest economies, such as China, Japan, the United States, and the European Union, will also result in large investments in infrastructure projects. The expansion of the Chinese construction sector into foreign markets has gained momentum in the last decade and is expected to continue. Prices for oil, gas, and many other natural resources have recently come down as a result of the economic turmoil. This has caused many projects to be put on hold and guest workers to go back to their home countries. However, if the emerging markets around the world were to return to the positive growth path they enjoyed prior to the economic turmoil, there is reason to expect that trade in construction services would recover to the relatively steady growth it once experienced. What Can Be Done to Harness Trade Opportunities Policy makers in developing countries may have significant scope to facilitate trade in construction services. The sector is hampered by poor productivity growth in a number of countries, not least within developed-country markets, and effective competition would generate gains by clients and suppliers. This section identifies three broad areas where countries may want to focus their attention. The first set of initiatives would involve reviews of domestic regulations to highlight reform needs. Improving the administration of construction permits and the management of government procurement could greatly facilitate investments in construction projects. However, while effective reforms may require limited commitments in terms of government capacity, they are likely to consume significant political capital given the sector’s political influence (more on this below). The second set of initiatives would seek to remove rules and regulations that are more trade restrictive than necessary. This would allow companies to take advantage of the economic benefits stemming from international exchange. Movement toward more open access to domestic construction markets will stimulate competition, save government resources, and improve the choice for local investors. Seeking improved market access for Mode 3 and Mode 4 transactions in major trading partners could also help increase exports to countries with
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Public Disclosure Authorized Public
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International Trade in Services New
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CONTENTS About the Editors and Cont
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Contents vii Boxes 2.1 Extent of Te
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Contents ix 1.4 Worker Remittances
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Contents xi 6.6 A Checklist of Ques
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xiv About the Editors and Contribut
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xvi Foreword Beyond describing the
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xviii Acknowledgments Finally, this
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1 Assessing the Potential of Servic
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Assessing the Potential of Services
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2 Increasing Labor Mobility: Option
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Increasing Labor Mobility 31 unders
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Table 2.2. Quantitative Estimates o
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Borjas, George “Heaven’s Doors:
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Increasing Labor Mobility 37 contri
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Increasing Labor Mobility 39 must h
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Worker categories covered Specifica
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Provisions on professionals Annex o
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Increasing Labor Mobility 45 The EU
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Table 2.7. Agreements between Austr
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Specified quotas n.a. Entry subject
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Increasing Labor Mobility 55 Figure
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Increasing Labor Mobility 57 Bilate
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Increasing Labor Mobility 59 Jamaic
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Increasing Labor Mobility 61 factor
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Increasing Labor Mobility 63 indivi
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Increasing Labor Mobility 65 that a
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3 Legal Services: Does More Trade R
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Legal Services: Does More Trade Rhy
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Table 3.3. Trade in Legal Services:
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Table 3.8. Uruguay Round Commitment
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100 International Trade in Services
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Exporting Information Technology Se
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Brunei Darussalam 48.2 2.9 2,954 66
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Honduras 6.0 — 4,081 10.1 3.3 —
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Norway 85.0 30.6 31,726 82.0 78.0 5
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Uganda 3.6 — 306 5.1 — 170.0 41
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8 Accounting Services: Ensuring Goo
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Accounting Services 265 exceeding 5
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Accounting Services 267 Links to la
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Accounting Services 269 The account
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Accounting Services 271 Box 8.3: Ex
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Accounting Services 273 service mar
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Accounting Services 275 Table 8.5.
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Accounting Services 277 Box 8.6: Re
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Accounting Services 279 Box 8.7: An
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Accounting Services 281 Table 8.6.
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Accounting Services 283 Restriction
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Accounting Services 285 Commercial
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Accounting Services 287 Colleges of
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Accounting Services 289 Administrat
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Accounting Services 291 IESBA (Inte
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350 Index Association of Certified
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352 Index Convention on Combating B
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354 Index Former Yugoslav Republic
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356 Index International Public Sect
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358 Index migrants. See labor mobil
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360 Index public-private partnershi
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362 Index Thailand construction ser
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ECO-AUDIT Environmental Benefits St
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