With the rise of trade tensions and disruptive emerging technologies, how can we continue to catalyze the needed policy reform and demonstrate impact and implementation in line with the Sustainable Development Goals to drive efficiency, inclusivity, and sustainability?
The Fourth Industrial Revolution – driven by rapid technological change and digitalization – has already had a profound impact on global trade, economic growth and social progress. Cross-border e-commerce has generated trillions of dollars in economic activity in recent years and continues to accelerate. The ability of data to move across borders underpins new business models, boosting global GDP by 10% in the last decade alone. However, digital trade barriers including outdated regulations, fragmented governance and strict data localization policies could potentially hamper these gains.
Drawing from the results of ongoing Forum initiatives and meetings with high-level policy-makers and experts, the Digital Trade portfolio has identified several areas of impact to advance dialogue on e-commerce policy best practices, develop deeper understanding on trade and data flows, and mapping new trade technologies. This portfolio will help government understand and development frameworks that encourage international trade in increasingly digital-driven economies.