Digital trade: Opportunities and actions for developing countries

The UN Conference on Trade and Development (UNCTAD) released a policy brief that examines the digital trade opportunities and actions for developing countries. The paper underscored the growing importance of digital trade including digitally ordered trade in goods and services (cross-border electronic commerce (e-commerce)) and digitally delivered trade (services delivered internationally through the Internet or other networks). However, the readiness for digital trade differs largely between countries. UNCTAD underpins that for developing countries, particularly the least developed countries, to increase their share of the world trade they need to take some actions, which is further underlined by the COVID-19 crisis. On top of these actions is ‘ensuring more inclusive outcomes from digital trade requires a holistic and coordinated approach, across Governments and with other stakeholders, to formulating and implementing relevant policies, as well as global development assistance.’