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Date Modified: 15/02/2017 01:22:30
COALITION OF SERVICES INDUSTRIES: PROMOTING TRADE IN PROFESSIONAL SERVICES IN THE COMESA REGION
Globally, the services sector is the fastest growing economic sector; accounting for about 70% of global Gross Domestic Product (GDP), 1/3 of global employment and approximately 20% of gross global trade and 45% of world exports in value added terms. Services; particularly, business services are an important link and provide key inputs to other areas of the economy like the manufacturing industry, through infrastructure, transport, financial services, Information and technology and others.
Modern exportable business services exhibit strong economies of scale and externalities and require relatively highly skilled labour, thus providing a realistic opportunity for structural transformation, including for countries without a comparative advantage in agriculture or manufacturing.