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10.8 ndian onom of vital importance to India. Some of the recent information for cross-border supply of services. negotiations8 are as given below. World Bank data shows the growing share of services in the world economy, the sources said, Wto negotiAtions adding, however, that global trade flows in Though, the 11th Ministerial Conference services remain subject to numerous border and (MC) of the WTO ended without a Ministerial behind-the-border barriers (Ministry of Commerce Declaration or any substantive outcome, India and Industry). saw certain favourable outcome from the 10th MC of the multi-lateral trade body (Economic bilAterAl Agreements Survey 2017-18): The bilateral agreements signed by India in recent (i) Implementation of preferential treatment times are: in favour of services and service suppliers (i) Comprehensive bilateral trade agreements of least developed countries (LDC) and signed, including trade in services, with increasing LDC participation in services the governments of Singapore, South trade; Korea, Japan and Malaysia. An FTA in (ii) To maintain the current practice of not services and investment was signed with imposing customs duties on electronic the Association of South East Asian transmissions (e-Commerce) until the Nations (ASEAN) effective since mid- next Ministerial Conference to be held in 2015. 2017. (ii) India has joined the RCEP (Regional (iii) India, together with 20 other members Comprehensive Economic Partnership) have notified preferential treatment to pluri- lateral negotiations. The proposed LDCs in services trade. India has offered FTA includes the 10 ASEAN countries this in respect of: and its six FTA partners, viz. Australia, (a) Market access China, India, Japan, South Korea and (b) Technical assistance and capacity New Zealand. The RCEP is the only building; and mega-regional FTA of which India is a (c) Waiver of visa fees for LDC applicants part. for business and employment. (iii) India is also engaged in bilateral FTA Before the 11th MC of the WTO India made negotiations including trade in services a presentation a proposal to the WTO for a global with Canada, Israel, Thailand, the pact to boost services trade. The proposal—Trade EU, the EFTA (European Free Trade Facilitation in Services (TFS)—is mainly aimed at Association), Australia and New Zealand. ‘ensuring’—easier norms for movement of foreign Dialogue is under way with the US under skilled workers/professionals across borders for the India-US Trade Policy Forum (TPF), short-term work; portability of social security with Australia under the India-Australia contributions; reasonable fees for immigration; JMC (Joint Ministerial Commission), cross-border insurance coverage; boosting medical with China under the India-China tourism; and publication availability of relevant Working-Group on Services, and with 8. Economic Survey 2017-18, Vol. 2 & Economic Survey Brazil under the India-Brazil Trade 2016-17, Vol. 2, Ministry of Finance, GoI, N. Delhi. Monitoring Mechanism (TMM).