Consul on trade and services
The decision making body of WTO is Ministerial meeting. Ministerial meeting includes all WTO member-countries representatives and it is convened every two years. Ministerial meeting is headed by the General Council.
Council for Trade in Services fulfills its activity under the General Council and it executes control over realization and application of General Agreement on Trade in Services on the regular basis. Council for Trade in Services is open for all WTO member-countries in the course of regular sessions and serves as a site for negotiations on current issues in the sphere of services at special sessions.
Council for Trade in Services consists of 3 specialized committees (suborgans):
- Committee for Trade in Financial services is responsible for issues trade in and regulation of financial services. The Committee fulfills monitoring over application of General agreement on trade in services in specific services sectors and is a site for technical discussions and assessment of regulatory development at financial services sector.
- Committee on Specific Obligations is responsible for issues relating to the services contained in UN classifier of main products and to lists of specific obligations. The Committee as well conducts forums devoted to technical aspects of finalization of specific obligations list.
- Working group for internal regulation is authorized to conduct work in the sphere of internal regulation in compliance with the Rules of working group on General agreement on trade in services in three directions: Extraordinary protective measures (Article X of GATS), State purchases (Article XIII of GATS), Subsidies(Article XV of GATS).