The first meeting of a World Trade Organisation panel to discuss the new concept paper floated by India on a proposed trade facilitation agreement in services will be held on the 6th of this month in Geneva. India is pitching for this agreement with a view to reduce transaction costs by doing away with unnecessary regulatory and administrative burden on trade in services. The country's move assumes significance as the services sector contributes significantly in the economies of developing nations. Services sector contributes about 60 per cent to India's economy and 28 per cent in the total employment.With the growing importance of the sector, India has time and again pitched for liberalisation and streamlining of norms for the sector in the Geneva-based World Trade Organisation. In its concept note, India has proposed for simplification of procedures and clarity in work permits and visas for smooth movement of professionals.India is making the case for this pact in line with the Trade Facilitation Agreement in goods, signed by WTO in 2014, which aims at expediting movement, release and clearance of goods as well as co-operation on customs compliance issues.