Wto Digital Trade Agreement

Ambassador Mina stressed that COVID-19 had increased the urgency of developing global rules on digital trade and that these negotiations were seen as an important test for the WTO in responding to modern trade realities. In addition to defining global rules that facilitate the flow of data, there are many other provisions in which this agreement can contribute to a better functioning of the global digital ecosystem. A WTO analysis of 275 of these agreements revealed in May 2017 that “e-commerce provisions have become increasingly detailed, but remain very heterogeneous.” 23 In summary, the analysis shows that the most frequent provisions of e-commerce concern the promotion and cooperation of e-commerce while maintaining the aforementioned customs moratorium. Other provisions of e-commerce concern the national legal framework and more specific issues, such as electronic authentication, consumer protection, personal data protection and paperless trade24. This will better exploit current and future digitization opportunities in global markets, while recognizing the important role of the WTO-based multilateral system in promoting open, transparent, non-discriminatory and predictable regulatory environments. This is especially true for facilitating cross-border data flows, which are the lifeblood of the global digital ecosystem. This project not only concerns the digital transformation of society and industry in Europe, but can also help bridge the growing digital divide between citizens and consumers. DigitalEurope, the association representing Europe`s digital transformative industries, expresses strong support for formal negotiations for a new multi-lateral agreement on the aspects of e-commerce, as first announced on the sidelines of the World Economic Forum in Davos in January 2019. According to the OECD, fast-growing digital technologies such as LED distributors or blockchain “have the potential to create new ecosystems for trade: helping to coordinate value chains by increasing confidence and speed of transactions; Strengthening actors; Allow verification of the origin of the products Facilitate the transfer of funds and help improve the implementation or automation of contracts (for example. B through smart contracts).