The World Trade Organization, the United States, the European Union and 65 other countries agreed yesterday on a new treaty to ease restrictions on trade in services between countries. The Organization for Economic Co-operation and Development indicated that the aim of the agreement is to increase the transparency and efficiency of international regulations governing the work of service providers, particularly in the areas of financial services, communications and transportation. According to the organization, the agreement could reduce the cost of trade in services in the world by up to $150 billion annually.
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