UNCTAD eWeek 2023 | High-level ministerial roundtable on digital trade

Voices in Global Trade: Perspectives on Digitalization, Challenges, and Progress

At the session ‘High-level ministerial roundtable on digital trade Do regional trade agreements indicate the way forward for the multilateral trading system?‘ speakers from different corners of the globe shed light on the nuanced landscape of global trade. Ratha Chea, Moderator Usha Chandnee Dwarka-Canabady, Paula Gopee-Scoon, Yusnier Romero Puentes, Rebeca Grynspan, Johanna Hill, Mira Burri, and Majid Al-Kasabi offered insightful analyses and observations on various facets of the trade environment.

Cambodia: New Asian regionalization and economic integration

Ratha Chea’s discourse emphasized the burgeoning impact of the New Asian regionalization on Cambodia’s economy. Acknowledging Cambodia’s active involvement in regional comprehensive economic partnerships, the focus remains on harmonizing e-commerce regulations for sustained regional economic growth.

Saudi Arabia: A proponent of gender equality and digital trade

Moderator Usha Chandnee Dwarka-Canabady highlighted Saudi Arabia’s role in advocating gender equality and fostering digital trade. In terms of digital trade, Dwarka-Canabady said that Saudi Arabia is making significant efforts to bring the MENA region together for digital trade. One of the focus areas is matchmaking between micro, small, and medium enterprises (MSMEs) involved in digital trade. This initiative not only aims to spur economic growth but also encourages regional collaborations.

Trinidad and Tobago’s strategic approach to digital transformation

Paula Gopee-Scoon underscored Trinidad and Tobago’s strategic stance on digital transformation. Their emphasis on digital inclusion, national e-commerce strategies, and streamlined trade processes signifies a concerted effort towards becoming a regional e-commerce hub.

Addressing the digital divide: Challenges for developing nations

Yusnier Romero Puentes delved into the persistent challenges faced by developing countries in accessing and leveraging digital technologies. The proposal for a global digital compact stands as a potential solution to bridge this digital divide.

Transition towards sustainable and digital trade

Rebeca Grynspan extensively addressed the critical necessity for sustainable trade practices in meeting Paris Agreement goals, emphasizing the imperative of decarbonisation in global trade. Furthermore, she highlighted the burgeoning significance of service-intensive trade in driving economic growth, signaling a pivotal shift towards a service-oriented economy. Grynspan underscored the growing importance of regional trade agreements, particularly for developing nations, stressing their role in ensuring inclusion and representation in the global trade system amidst challenges faced by the World Trade Organization’s appellate body.

Progress and challenges in global e-commerce initiatives

Johanna Hill provided insights into the Global E-commerce Initiative (GSI) negotiations, highlighting both progress and challenges, particularly in navigating the complexity of data-related disciplines.

Singapore’s leadership and the evolution of digital trade agreements

Mira Burri emphasized Singapore’s proactive role in digital trade agreements, addressing complex issues in data-driven economies, and the pivotal role of international cooperation in shaping digital trade.

Global trade growth and Saudi Arabia’s digital investments

Majid Al-Kasabi brought attention to the remarkable growth in global trade, fueled by liberalization, technological advancements, and Saudi Arabia’s substantial investments in digital infrastructure. Concerns about rising protectionism and the need for collective cooperation were also highlighted.