Adoption of the agenda and organization of work

29 Jan 2024 21:00h - 23:59h

Table of contents

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Full session report

Joint report highlights transformative potential of digital trade for developing countries

The launch event for a joint report by the IMF, OECD, UNCTAD, the World Bank, and the WTO served as a platform to discuss the transformative role of digital trade for developing countries. The session began with a welcome address, acknowledging the technical support provided by Shamika and the collective expertise of the five international organisations involved in the report’s creation.

The report, focusing on digital trade for development, examines the landscape of digital trade and its potential to advance the economic prospects of developing nations. It delves into various issues of importance such as the construction and maintenance of digital infrastructure, skill-building, and the socio-economic effects of cross-border data flow regulations, competition policies, and consumer protection. The report underscores the significance of these topics, not just for developing countries but also for more developed nations, offering guidance on policy implementation to enhance digital trade capabilities and assist in the development of others.

Speakers at the event included Ms. Julia Nielsen from the OECD, Ralph Ossa from the WTO, Pierre Sauvé from the World Bank, Shamika Sirimane from UNCTAD, and Martin Sommer from the IMF, who joined online. Each speaker contributed insights into the importance of digital trade, the opportunities it presents for growth and innovation, and the challenges it poses, particularly for low-income economies.

The discussion highlighted the need for reliable and affordable digital infrastructure, the role of international cooperation in bridging the digital divide, and the importance of a conducive regulatory and policy framework. The WTO’s Information Technology Agreement and regional trade agreements were mentioned as instrumental in promoting digital connectivity by eliminating tariffs on IT products.

A significant portion of the event was dedicated to the debate over the WTO moratorium on customs duties on electronic transmissions. The report provides evidence on the potential impact of the moratorium, suggesting that imposing customs duties on electronic transmissions could reduce digital trade benefits. It also discusses alternatives such as value-added tax (VAT) as a more efficient revenue collection method from digital trade.

Emerging regulatory issues were also addressed, with a call for deeper international cooperation to ensure a balanced approach to global data governance, competition in digital markets, and consumer protection in the digital economy.

The audience engagement segment brought forth questions about integrating multinational companies into development efforts, increasing the participation of developing countries in the digital economy, and the impact of the moratorium on customs duties. The gender digital divide was also raised, with a need for tailored programs to address the specific challenges faced by women-owned firms.

In conclusion, the report emphasises that policymaking for digital trade requires a whole-of-government approach, as issues cut across various ministries. Global cooperation is deemed essential to ensure that the benefits from digital trade are realised and more inclusive. The report is a testament to the collaborative effort of multiple international organisations to provide guidance and support to developing countries in leveraging digital trade for development.

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