UNCTAD: Beijing summit on service sector to open in May

The United Nations Conference on Trade and Development (UNCTAD) on Wednesday said the Global Services Forum-Beijing Summit would be held on May 28 and 29.The share of the services sector in world output and world trade amounted to 70 percent and 20 percent respectively, said Secretary-General of UNCTAD Supachai Panitchpakdi."We need to raise the awareness of the importance of services," he said.The Global Services Forum gathers together prominent players in the services sector from governments, the business world and academia.Panitchpakdi said "new visions for services such as job creation and global value chain could be discussed" at the Global Services Forum-Beijing Summit and China International Fair for Trade in Services (CIFTIS) that is due to open simultaneously.The first CIFTIS was successfully held in Beijing last year, attracting 1,721 exhibitors and 24,000 registered merchants from 83 countries and regions around the world. The second CIFTIS will be held on May 28 to June 1 in Beijing.