Information technology and e-commerce
Filter :
Language
Publication date
Content type
Series
Authors
Foreword
Technology has always propelled trade. From the invention of the steam engine and steamship in the 1700s the popularization of the standard shipping container in the 1950s and the rise of the internet in the 1990s technology has over the centuries profoundly changed the way we trade. Today emerging technologies and digitalization are changing trade at a speed much faster than before – leading to both opportunities and challenges.
The promise of TradeTech
TradeTech – the set of technologies that enables global trade to become more efficient inclusive and sustainable – is multifaceted from trade facilitation to efficiency gains and reduced costs to greater transparency and resilience of supply chains. Although technological innovation exists the major challenge to the global adoption of TradeTech will be building international policy coordination. Trade agreements can play a key role. Despite ongoing efforts to introduce digital trade provisions in trade agreements many unseized opportunities and unexplored policies remain. This joint World Economic Forum and WTO publication explores how trade agreements could be leveraged to advance the adoption of digital technologies and trade digitalization.
Global interoperability of data models for trade documents and platforms
In a digital environment for parties to seamlessly exchange data and documents all information needs to be clearly defined and unambiguous (World Economic Forum/UNECE 2017). Reaching agreement on both the semantic content (i.e. data definitions such as whether the ‘port of unlading’ is the same as the ‘port of discharge’) and the syntax of data (i.e. data structure or format) is critical to ensure trading partners wanting to exchange information understand it in the same way.
Conclusion
In the Fourth Industrial Revolution technological development and adoption is growing exponentially. The recent COVID-19 pandemic has accelerated the societal adoption and acceptance of digital technologies and has made one thing clear – the future of trade is digital and the 5 Gs of TradeTech are the engines.
Executive summary
The promise of TradeTech – the set of technologies that enables global trade to become more efficient inclusive and sustainable – is multifaceted from trade facilitation to efficiency gains and reduced costs to greater transparency and resilience of supply chains. Of particular interest for this publication is the potential of artificial intelligence (AI) blockchain and distributed ledger technology (DLT) and the internet of things (IoT) to shape the global trade ecosystem.
Global legal recognition of electronic transactions and documents
On average a cross-border transaction requires the exchange of 36 documents and 240 copies (Fletcher 2019). A shipment of roses from Kenya to Rotterdam can generate a pile of paper 25 cm high and the cost of handling it can be higher than the cost of moving the containers (Allison 2016).
Global digital identity
Identity and trust lie at the core of each trade interaction. As global value chains become increasingly digital organizations need to ensure that they can trust the digital identity of legal and physical persons1 or products they deal with and can efficiently link that digital identity with a real organization specific product or device (see Box 17).
Global trade rules access and computational law
Businesses operate in an environment of increasing legal complexity. At a global level trade compliance is particularly time consuming and costly as enterprises need to be aware of and comply with rules under different international agreements as well as meet their contractual obligations.
Blockchaining international trade: a way forward for women’s economic empowerment?
Blockchain technology holds considerable promise to boost women’s participation in international trade. Blockchain’s anonymity and efficiency could enable many women who otherwise would be constrained by law custom or high costs to engage in financial and business transactions. Blockchain can be used to enable women who lack identification documents to undertake transactions that otherwise would require official identification and to prove their ownership of assets without interventions from male family members. Blockchain can help micro small and medium-sized enterprises (MSMEs) more than 30 per cent of which are owned by women to overcome costs associated with exporting and importing and interact easily with consumers other businesses engaged in the supply chain customs officers and regulatory bodies. Blockchain also can increase women farmers’ access to information on crops and market conditions thus improving their bargaining position. However if not regulated properly the expanded use of blockchain also could increase the relative return to sophisticated technology skills that men are more likely to have and increase the digital divide between men and women. The World Trade Organization (WTO) could play a key role in developing guidelines for the use of blockchain in international trade to support the efficient and inclusive adoption of blockchain technology.
Opportunities and challenges of e-commerce in Mauritius
This study explores the status challenges and opportunities of e-commerce in Mauritius. The share of the population making online purchases was 14 per cent in 2017 the secondhighest level (after Libya) in Africa largely due to increases in internet use and penetration coupled with increased credit card usage and the development of secure online payment systems. And Mauritius topped the United Nations Conference on Trade and Development (UNCTAD) B2C E-commerce Index (e-readiness) for Africa. A survey of customers revealed high levels of satisfaction with online shopping due to wider choices the ability to save time accessibility and the relative ease of searching for products online. Major concerns included uneasiness over disclosure of personal information and limited ability to contact vendors. Respondents who have not shopped online cited concerns over navigating online payment security and high costs. Online sellers expressed considerable optimism over future market growth but also were concerned over a local bias towards international websites technical limitations of internet service and the small market size. Interviews with policymakers cited the strong legal and regulatory framework supporting electronic payments but described a need for stronger regulatory cooperation with other countries on e-commerce and more work to collect statistics. Technical assistance would be useful in these efforts.
The new rules on digital trade in Latin America: regional trade agreements
While recent technological advances have supported an increase in digital trade this growth has occurred with a lack of clear and defined rules. This deficiency has become an issue for Latin American countries. With the multilateral trade regime impasse more complex regional and bilateral agreements have emerged. The formulation of digital trade regulation raises many questions. In this chapter we deal with the new rules on digital trade in regional trade agreements (RTAs) recently negotiated by Latin American economies. In this work special emphasis is given to comparing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the United States-Mexico-Canada Agreement (USMCA) the most advanced RTAs regarding these issues.