This study examines the challenges and benefits that the growth of the digital economy is creating for trade and development.
The study Maximizing the Opportunities of the Internet for International Trade emphasizes the impact of the development of the internet on the nature of international trade, and provides a general outlook on the regulatory importance of this.
The document begins by explaining how the internet is transforming the way that goods and services are produced, delivered, and consumed at the national and global levels.
The authors outline the framework for their recommendations, which includes clarifications on the nature of e-commerce and the benefits and growth in data traffic in the age of globalization. They also set out strategies for strengthening the potential benefits of these and describe the trade policies needed to take better advantage of digitization at the global level.
The policy options outlined in the report fall into four categories: maximizing and updating WTO standards; negotiating a digital trade agreement; expanding and deepening regulatory cooperation; and improving collaborative efforts between governments, the private sector, and NGOs.
It also contains recommendations on how policy makers and those involved in trade can take on existing limitations and help create an enabling environment to take better advantage of the opportunities the internet has to offer, with an emphasis on cross-border data flows.