Wednesday, 19 July 2017

Review Session to Promote Connectivity through Digital Trade

The sixth Aid for Trade Global Review was heldat the WTO on 11-13 July 2017. The Aid for Trade initiative was launched in 2005 with the aim of addressing the supply side and trade-related infrastructure constraints that often hamper developing countries’ participation in global trade. The 2017 Global Review is dedicated to the theme of “Promoting Trade, Inclusiveness and Connectivity for Sustainable Development”, and provided an opportunity for stakeholders to look at how Aid for Trade can contribute to the integration of developing countries and least developed countries into the multilateral trading system and the achievement of the 2030 Agenda for Sustainable Development. The Aid for Trade Global Review 2015 highlighted how high trade costs slow growth and development by pricing many suppliers in developing and least developed countries out of global markets. The 2017 Global Review develops this theme further by extending analysis of trade costs into the area of digital connectivity. The Review discussed the economic consequences of the digital divide and strategies to help policymakers, firms, women and SMEs to bridge this divide. 

Many countries including India have emphasized that the definitions of digital trade and e-commerce require further deliberation at various bodies of the WTO to bring clarity on the scope of the subject. 

FDI policy in different sectors including on e-commerce sector is formulated after extensive consultations with stakeholders including concerned Ministries/Departments, apex industry chambers and other organisation. 

India has been working with WTO members especially the developing countries to ensure that its interests in the WTO negotiations are protected. Implementation of Bali and Nairobi Ministerial Decisions, especially on public stockholding for food security purposes is a priority for India in the negotiations and India is working for a permanent solution in this area. 

This information was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today



Courtesy: pib.nic.in

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