services are the "commodities" being. traded, i~ is almost always necesi;nry to have some sort of establishment (or investment) in the country in wh.ich such service s I ••• E/C.10/1990/5 English Page 22 are consumed , it being the nature of services that they are produced and consumed in the country of destination. Since the topic here is "trade _in services", there is a tendency to emphasize the trans-border aspects. But in most cases, in large industries, trade in services involves a foreign investment aspect. It also may involve immigration issues, as is, again, illustrated in the Canadian/United States Free Trade Agreement. 70. Where obstacles to trade in services exist, they generally take the form of regulation within the country of destination -not, as is more oft.en the case with goods, at the border. In respect of trade in goods, most-favoured-nation treatment is the fundamental principle, with national treatment being important but in many respects secondary. The situation is different in respect of trade in services. In that situation, regulation is both internal and directed towards the supplier of the services. Regulations are directed towards branch banks, insurance companies, travel agencies, or the like -that is, towards entities established in the country of destination. Thus, the national treatment provisions of the several investment codes, whether they be the United Nations code, the OECIJ Declaration or even the bilateral agreements, such as bilateral investment treaties, become central to an understanding, within the Uruguay Round, on trade in services. 73.. The OECD Declaration, for example , provides that Member States should, "consistent with their needs to protect their essential security interests and to fulfil commitments", accord national treatment to "foreign-controlled enterprises". ill The United Nations code, after stating the obvjous right to 
**Analysis**
The text discusses trade in services, regulations, and national treatment provisions in the context of international trade agreements, such as the Uruguay Round. It highlights the importance of foreign investment and immigration issues in trade in services. The text also mentions specific codes and declarations, such as the OECD Declaration and the United Nations code, which provides a framework for understanding trade in services.

**Category**
International trade