Globalization is manifested as increases in cross-border flows that have extended to health and health-related goods and services, even in the absence of specific liberalization commitments. A proposed framework linking the international trading environment to health highlights the need for consistent trade-related health policies, and for strategic information to guide the policy process. Globalization poses several risks and opportunities that have to be managed in order to achieve health sector objectives. In the area of access to medicines, there is concern that obligations to the TRIPS agreement increase monopolistic tendencies and could contribute to the already high prices of drugs. Trade in health services could exacerbate unmet health needs or contribute to meeting supply shortfalls. As traditional medicine services and medicinal plants grow in trade value, there is increasing concern about its protection, and ensuring minimum quality standards for practitioners of traditional or alternative medicine. The net impacts depend on the regulatory environment, the requisite infrastructure to realize the gain, safeguards that government can put into place and removal of constraints stemming from domestic policies and laws that prevent us from taking advantage of flexibilities in trade agreements.