Covid 19-induced travel restrictions have had a devastating impact on the global services trade, said a report by the World Trade Organization (WTO).
This was despite Mode 4 Trade, which allowed cross-border movement of individuals, accounting for just three per cent of the world services trade, according to the report.
This was despite Mode 4 Trade, which allowed cross-border movement of individuals, accounting for just three per cent of the world services trade, according to the report.
This mode of supply is important for certain members and certain sectors, such as professional and other business services, it said in the report, titled Cross-border Mobility, Covid-19 and Global Trade.
"For instance, in 2017, even though the dominant export mode was cross-border supply (mode 1), some 13 per