International trade in services is a significant part of global trade, accounting for almost a fifth of total trade in 2000. The General Agreement on Trade in Services (GATS) was established in 1995 to reduce barriers to trade in services, but progress has been slow due to extensive national regulations and entry barriers. The GATS has had limited success in achieving reductions in trade barriers, with a current negotiating round among member countries. The political sensitivity of national regulatory issues has hindered progress in this area.