Trade in services came on the policy scene in the 1980s. It played an important role in reforming telecom sectors across the world, especially because of the Regulatory Reference Paper that was an integral part of the Basic Telecom Services agreement. Trade agreements are simply one more element used to lock in regulatory commitment, thus facilitating investment and thereby good performance. The famous story about how one can trade hair-cutting services across borders illustrates the connection with ICTs. How can one trade hair cuts, a service that is consumed at the moment of production?