E-commerce has emerged as major force in global economic output, trade
The World Trade Organization (WTO) and the international community have a collective responsibility to help members harness the full potential of the digital economy for economic growth, job creation and trade diversification, said Director-General Ngozi Okonjo-Iweala at a workshop held recently at the WTO on e-commerce. At the event, WTO members heard from international organisations on their work on various e-commerce topics and on programmes aimed at helping developing economies benefit from digital trade.
The workshop was held under the Work Programme on E-commerce as a follow-up to the 12th Ministerial Conference decision to reinvigorate the Programme, particularly regarding its development dimension.
The workshop provided an opportunity for WTO members to exchange views with international organisations on cross-cutting issues under the Work Programme identified by members in the past few months.
DG Okonjo-Iweala noted that members are engaging substantively on broad e-commerce-related issues with a development focus. “These discussions are important to better understand the challenges and opportunities of digital trade,” she said.
She noted the dramatic growth in services delivered across borders via digital networks. The WTO estimates that global exports of digitally delivered services grew by 8.1% per year between 2005 and 2022, much higher than the 5.6% growth registered for goods exports.
The DG said: “In 2022, the value of exports of these services, which cover everything from streaming games to consulting services provided by video, reached $3.82 trillion — worth 12% of total goods and services trade, up from 8% a decade earlier. With the comparatively slow recovery of tourism and other services requiring cross-border movement of people, digitally delivered services have increased their footprint in global services trade. Last year represented 54% of total global services exports.”
The Director-General highlighted the role of e-commerce in driving growth and trade as well as in creating jobs for women and young people. She stressed that development-related challenges are preventing some members from fully maximising the benefits of digital trade, said a release.
“Many countries are still lagging behind — be it because of poor connectivity, outdated physical and digital infrastructure, inadequate digital financial services, deficiencies in digital literacy and skills, weak legal and regulatory frameworks — or any combination of these factors,” she said.
Source: Exim News Service: Geneva, June 7