Sweden and Korea fund UNCTAD’s e-commerce work to speed up economic recovery
Sweden and the Republic of Korea granted US$232 000 and US$50 000 respectively to support the UN Conference on Trade and Development (UNCTAD) in helping developing countries use e-commerce to tackle the economic fallout caused by the COVID-19 pandemic. Through these funds, the UNCTAD will assess the impact of the Coronavirus pandemic on e-commerce, identify good practices across the world, and recommend policies to help developing countries rebuild their economic recovery following the pandemic. ‘Digital solutions and trade can make crucial contributions to sustainable development. The pandemic has highlighted the urgent need to enhance the capacity of developing and least developed countries to participate in the digital economy,’ noted the Swedish ambassador to the World Trade Organization Mikael Anzén.