# A unified voice is needed for progress on digital trade Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-04-18 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Unlocking the Potential of Digital Trade: ICC UK Urges Meta Description: Join ICC UK in advocating for cohesive action on digital trade to boost global economy and achieve UN Sustainable Development Goals URL: https://financedigest.com/a-unified-voice-is-needed-for-progress-on-digital-tradehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd180418-6-1736842832096-compressed.jpg) **As the UN’s E-Commerce Week Geneva and the Commonwealth Heads of Government Meeting 2018 commence, the International Chamber of Commerce (ICC) United Kingdom calls for a cohesive voice from across the developed and emerging markets.** To make progress on digital trade over the next two weeks, governments from both developed and emerging markets should work together on digital trade _and_ development priorities. The barriers to digital trade are well known; mis-aligned national regulations, poor infrastructure, low use of electronic payments, undeveloped legal systems, low purchasing power, lack of enforcement capability and low levels of digital skills. Many of these issues can be solved by better [aligning development](https://www.financedigest.com/how-can-we-ensure-that-africas-energy-transition-aligns-with-its-development-ambitions.html "How can we ensure that Africa’s energy transition aligns with its development ambitions?") assistance with digital trade priorities. The policies, frameworks and resources exist to address all of these issues if [governments can work](https://www.financedigest.com/uk-minister-says-government-will-work-with-obr-on-economic-forecasts.html "UK minister says government will work with OBR on economic forecasts") together to mobilise them. This would be a pragmatic [solution to the issues that have stalled progress for the last 20 years](https://www.financedigest.com/geospatial-solution-market-one-of-the-most-booming-industry-in-upcoming-years.html "Geospatial Solution Market One of the Most Booming Industry in Upcoming Years"). The prize for doing so is enormous: - Intra-African trade is one of the lowest of any region at 10%, [yet by 2030 Africa will have 1 billion people under 25 years](https://www.financedigest.com/four-years-of-open-banking-2022-may-be-the-best-year-yet.html "Four years of Open Banking: 2022 may be the best year yet ") old. - It’s estimated that digital trade could add $1 trillion to collective Commonwealth GDP, [lifting millions of out poverty across 53 countries](https://www.financedigest.com/u-s-cdc-lifts-covid-do-not-travel-recommendations-on-about-90-countries.html "U.S. CDC lifts COVID ‘Do Not Travel’ recommendations on about 90 countries"). - 4 of 5 [digital businesses](https://www.financedigest.com/the-small-businesss-guide-to-getting-started-in-digital-advertising.html "The Small Business’s Guide to Getting Started in Digital Advertising") are run by women – digital trade fosters gender equality in trade; we need to accelerate take-up. - At a fraction of its global potential, an additional 47% of the global population – currently not online – could have access to global markets via the internet – further [expanding digital](https://www.financedigest.com/youtube-expands-shopping-features-to-combat-digital-ad-slowdown.html "YouTube expands shopping features to combat digital ad slowdown") trade worth $25 trillion. Digital trade increases financial inclusion, tackles gender inequality and enables SMEs to access [global markets](https://www.financedigest.com/automated-liquid-handling-systems-market-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Automated Liquid Handling Systems Market Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") and export opportunities. These are all [national](https://www.financedigest.com/four-reasons-why-smes-in-developing-nations-should-embrace-a-cashless-society.html "Four reasons why SMEs in developing nations should embrace a cashless society") trade and development priorities and UN Sustainable Development Goals. As discussions on [digital platforms](https://www.financedigest.com/digital-id-revolutionises-end-to-end-mortgage-and-protection-platform.html "Digital ID Revolutionises End-to End Mortgage and Protection Platform") take place at the UN this week, governments that have blocked progress on digital trade in the past will be tested. **Chris Southworth, ICC United Kingdom states:**“ _Businesses want platforms where theycan buy and sell without limitation. [Government action](https://www.financedigest.com/uk-energy-ceos-urge-government-action-on-horrific-price-surge.html "UK energy CEOs urge government action on ‘horrific’ price surge") is critical to removing impediments to electronic commerce. The ICC United Kingdom advocates updated frameworks for cross-border consumer protection, data privacy, and [cyber security](https://www.financedigest.com/a-culture-of-cyber-security-throughout-financial-services-organisations.html "A Culture of Cyber Security Throughout Financial Services Organisations"), as well as measures for ensuring cross-border data flows such as those proposed at the WTO last December.”_ **Olubunmi Osuntuyi, Secretary General, ICC Nigeria states:**“Digital trade [platforms](https://www.financedigest.com/exclusive-tp-icap-to-launch-crypto-trading-platform-with-fidelity-standard-chartered.html "Exclusive: TP ICAP to launch crypto trading platform with Fidelity, Standard Chartered") arean important part of the jigsaw to improve the digital trade environment in _Africa, [governments can align e-commerce policies so businesses](https://www.financedigest.com/uk-government-to-cap-energy-bills-for-businesses-bloomberg.html "UK government to cap energy bills for businesses – Bloomberg") can trade more easily across borders.”_ **Emmanuel Doni-Kwame, Secretary General, ICC Ghana states:**“Regional integration is a fundamental pillar for Africa to realize her development aspirations as articulated in the SDGs and the African Union Agenda 2063. _ICC Ghana commends the African Union on its drive for a Continental Free Trade Area (CFTA), free movement, and single air [transport market](https://www.financedigest.com/growing-transportation-industry-is-driving-demand-for-aluminum-sheet-market.html "Growing Transportation Industry Is Driving Demand For Aluminum Sheet Market")._ _Digital trade can also be a tool for boosting intra-regional trade, as demonstrated by MercadoLibre – the largest [online marketplace in Latin America –, which helps foster intra-regional trade by connecting buyers and sellers in this region, and providing online payment](https://www.financedigest.com/online-payment-gateway-market-to-witness-a-cagr-of-10-3.html "Online Payment Gateway Market to witness a CAGR of 10.3%") services for the regional businesses that do not have bank accounts.”_ --- This blog is powered by Superblog. 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