The agreement aims to create a framework for the liberalization of trade in services among WTO member countries.

Key features of the GATS agreement include:

1. Wide Scope : GATS covers a wide range of services, including business, communication, construction, education, environmental, financial, health, tourism, and transportation services, among others.
2. Most-Favored-Nation (MFN) Treatment: Members agree to extend to each other the most-favored-nation treatment, which means that any advantage, favor, privilege, or immunity granted to one member concerning trade in services should be extended to all other members.
3. National Treatment: Members agree to provide foreign service providers with treatment no less favorable than that provided to their domestic counterparts.
4. Market Access: The agreement addresses issues related to market access, including commitments by members to remove or limit restrictions on foreign service providers, such as limitations on the number of service providers, types of services, or the total value of service transactions.
5. Progressive Liberalization: GATS allows members to make commitments in specific sectors and modes of supply. Members can choose which sectors they are willing to liberalize and the extent to which they are willing to open their markets.

Special Treatment for Developing Countries: GATS recognizes the special needs and circumstances of developing countries and provides flexibility for them to implement liberalization commitments.

Dispute Settlement: Like other WTO agreements, GATS has a dispute settlement mechanism that allows members to seek resolution for disputes related to the interpretation and application of the agreement.

The GATS has two parts: the framework agreement containing the general rules and disciplines, and the negotiations themselves. The pace and extent of negotiations are set by the WTO's 140 member governments. 

Since it entered into force in 1995, the GATS has been the subject of numerous negotiations and discussions, intending to promote the progressive liberalization of trade in services.

The GATS agreement reflects the recognition that services play a crucial role in international trade, and liberalization in this sector can contribute to economic growth and development. The GATS negotiations continue, with members periodically submitting new offers and engaging in discussions to further liberalize trade in services.