On the afternoon of September 12, 2024, the Global Entrepreneurs Summit on Trade in Services (Summit) hosted by the Global Alliance for Trade in Services (GATIS) was held in China National Convention Center, Beijing. The theme of the Summit was “High-Standard Opening Up for Win-Win Cooperation”.

Jiang Zengwei, President of GATIS, presided over the opening ceremony. In his opening remarks, he noted that in recent years, global trade in services has been expanding at a remarkable rate, with a 9% growth in 2023, outpacing global GDP, trade in goods and FDI during the same period. However, Jiang pointed out that growing geopolitical tensions have intensified trade protectionism among major economies, increasing trade barriers and costs in international transactions. This poses daunting challenges to the global trade landscape and economic recovery. He called for fewer domestic regulations, higher levels of opening up, and a more favorable business environment to support international trade in services. To implement the new vision of “innovative, coordinated, green, and open development that is for all”, and nine initiatives of GATIS, the organization held this high-level Summit during the 2024 China International Fair for Trade in Services (CIFTIS). The Summit aims to envisage trends in the opening-up and development of global trade in services, call for eliminating trade barriers, and improve the international business environment for high-quality development of trade in services and win-win cooperation.

The Summit features four sessions: opening remarks, achievement release, keynote speeches, and policy dialogue. Six distinguished guests delivered opening remarks, including relevant leader of the Ministry of Commerce, mayor of Beijing municipality, Mr. André Haspels, the Netherlands ambassador to China, Ms. UGAZ ESTRADA Cecilia, Deputy to the Director General, UNIDO, Mr. Georgios Katrougalos, former Minister of Foreign Affairs of Greece, and Ms. Johanna Hill, WTO Deputy Director-General (video). To explore the importance and practicality of high-standard opening up for win-win cooperation, Mr. Zhu Guangyao, former Vice Minister of Finance, presented a keynote speech titled “High-Standard Opening Up Promotes World Economic Growth”.

During the speeches session, executives from Fortune 500 companies and multinational corporations, and renowned experts discussed the trends, conditions, achievements, and prospects of high-standard opening up in global trade in services. Seven speakers from leading organizations, including Qualcomm, Schneider Electric, Sumitomo Mitsui Banking Corporation (China), Reanda International, and Cathay Pacific Airways, addressed topics on open cooperation in digital technology, new energy industry, financial services, etc., showing firm determination of global enterprises in services trade in high-standard opening up and win-win cooperation. Additionally, Ms. Zhao Hong, former Judge of the Appellate Body of the World Trade Organization (WTO) and Professor at Peking University delivered a speech on “Enhancing International Cooperation to Eliminate Barriers to Trade in Services”, emphasizing the need for international regulatory collaboration for high-standard opening up of services trade.

The policy dialogue session features five guests, including Mr. Chen Yusong, Deputy Director-General of the WTO Department of the Ministry of Commerce, Mr. Mark Ivan Rogers, former U.K. Ambassador to the EU, Dr Norman Sze Nung Chi, Vice Chair of Deloitte China, Ms. Dong Wenjing, Deputy General Manager of BCEG International Co., Ltd. and Mr. Zhou Mi, Research Fellow at the Chinese Academy of International Trade and Economic Cooperation. They demystified the Implications of Effectiveness of the Outcome of the WTO Negotiations on Services Domestic Regulation, exchanged views, and boosted confidence. Their insights offered valuable references and broader perspectives for enterprises and institutions engaging in global services trade.

At the conference, the GATIS released the Report on the Trend of High-Standard Opening Up of Global Trade in Services 2024. From a global perspective, the report explains the concept and impact of “high-standard opening up” of trade in services, examines the development of trade rules in multilateral, bilateral, and regional agreements, and assesses the domestic regulations and policy orientation of major economies. It also shares China’s experience in advancing high-level opening by supporting Beijing in building a Comprehensive Demonstration Zone for Expanding Opening-Up in the Services Sector. In addition, it identifies challenges and policy barriers to global trade in services and presents nine suggestions to the international community, including upholding multilateralism, conducting multilateral negotiations on issues like “national security exceptions”, “unilateral economic sanctions”, and “technology export controls”, and eliminating trade barriers to ensure stability and prosperity.

The Summit attracted over 500 participants, including representatives from 12 international organizations, as well as four foreign government agencies, 15 embassies in China, 24 international business associations, and 21 Fortune 500 companies from 43 countries and regions, both online and offline. Among them were three ambassadors to China and nine minister-level guests from international organizations and government agencies. The event received widespread acclaim from attendees.

The Global Entrepreneurs Summit on Trade in Services, a key forum of CIFTIS, has been held for three consecutive years as an international platform for policy dialogue, resource sharing, and experience exchange in global trade in services. It plays an active role in advancing high-standard opening up, reducing trade barriers, improving business environment, and fostering innovation and green industrial cooperation. Going forward, the Summit will continue as a flagship event of CIFTIS, focusing on global and domestic priorities and member interests, while demonstrating the GATIS’s functions in promoting collaboration and exchange, think tank research, and policy dialogue.

Following the principles of neutrality, openness, inclusiveness, and innovation, GATIS will continue to work with enterprises, chambers and associations, professional institutions, and industrial organizations in trade in services. The goal is to enhance international exchanges and cooperation, boost trade liberalization and facilitation, share opportunities, explore sustainable development models and address challenges, as efforts to contribute to global economic stability and prosperity and the UN’s 2030 Sustainable Development Goals.