In a study commissioned by the Federal Ministry of Economics and Technology, the Rheinisch-Westfälisches Institut für Wirtschaftsforschung (RWI) underlines German companies' good competitive position in the international trade in services. Sectors such as construction, navigation, telecommunications, post/courier services, technical services, and financial services are among the leaders in international competition according to the study. The RWI anticipates positive effects for Germany and the overall world economy from the further opening of worldwide service markets.
In outlining the results at the Economics Ministry, the State Secretary in the Federal Ministry of Economics and Technology Dr. Bernd Pfaffenbach stated with an eye to the negotiations on services in the WTO: "Alongside compromises on agriculture and industrial tariffs, an agreement on services must also be part of the possible results of the Doha Round." At an informal WTO ministerial that took place on the sidelines of the Davos World Economic Forum at the end of January, there were clear signals for restarting the Doha Round.
According to the RWI, the worldwide cross-border trade in services accounted for a volume of 2,500 billion dollars (US) in 2005. In nearly every country, the service sector has gained considerable importance in terms of both macroeconomic output and employment. In Germany, the service sector adds 70 % to the value chain and accounts for 77 % of all employed persons.
At the event in the Federal Ministry of Economics, representatives of the business community highlighted the fact that foreign involvement, for instance, in the banking sector, in the construction area, in maritime transports, and by architects, was gaining in importance. German service providers were now earning just under 10 % of their turnover on foreign business.
The RWI study may be viewed at our homepage under www.bmwi.de.
