Tag: Services

Manufacturers Welcome U.S. Engagement in International Services Agreement Negotiations

Manufacturers applaud Tuesday’s announcement by the United States Trade Representative (USTR) that the Administration plans to join negotiations on an International Services Agreement (ISA). We recognize the importance of promoting and liberalizing international trade in services given the high degree to which manufacturers rely on a wide range of services.

Improved services trade results in lower costs for manufacturing, as well as improved productivity, competitiveness, product quality and safety.  International services trade also enables manufactures to comply with regulatory standards, thereby increasing their sales in foreign markets.

Manufacturers depend on a broad array of services, including certification and testing; financial and business, such as investment, accounting, and legal expertise; energy and environmental; engineering and design; information and communications technology; maintenance services, including the installation and servicing of products; retail and distribution; and, transportation and logistics.

Given the importance of services in so many areas to help grow manufacturers’ opportunities overseas, the NAM strongly supports the liberalization of services trade in multilateral, plurilateral, and bilateral negotiations. An ISA would boost trade in services, improving manufacturers’ competitiveness in the global market, expanding U.S. exports, and reducing manufacturers’ costs. The NAM looks forward to monitoring negotiators’ progress on ISA talks to ensure that they provide gains for manufacturers, too.

Jessica Lemos is director of international trade policy, National Association of Manufacturers.

 

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Leading the Way…

The Institute for Supply Management’s Non-Manufacturing Report on Business released Monday prompted reporting on manufacturing’s importance.

Bloomberg, “U.S. Economy: Services Expand by Most Since May 2006“: “Service industries expanded in March at the fastest pace since May 2006, indicating the U.S. recovery is spreading beyond manufacturing and starting to create jobs.”

Previously …Sean Silverthorne, The View from Harvard Business blog, “Who Needs Manufacturing? Guess What’s Pulling Us Out of Recession

Even more previously…Bloomberg, “Japan Manufacturers Least Pessimistic Since 2008“: “April 1 (Bloomberg) — Japan’s largest manufacturers became the least pessimistic about the economy since 2008 as a global rebound drove demand for exports.”

These historic time frames are getting a little short. What’s next? “France’s manufacturers reported being the most optimistic about industry growth since Monday, but they had had a rough weekend.”

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