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Economy Retail

Staff Reporter

, APAC

Published:

3 years ago

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Photo from SGPC's joint press release Caption: Minister for Communications and Information, Josephine Teo, representing Singapore, with members of the WTO Joint Statement Initiative on Electronic Commerce (JSI) and WTO Director General Ngozi Okonko-Iweala on the sidelines of the World Economic Forum Annual Meeting in Davos, Switzerland on 20 January 2023

Teo, WTO director-general seek growth, inclusiveness of digital economy

The joint statement on e-commerce sets rules on the global digital economy.

Minister for Communications and Information Josephine Teo and the World Trade Organisation director-general Ngozi-Okonjo-Iweala said the joint statement initiative (JSI) on electronic commerce will promote growth and inclusivity of the digital economy.

More than 20 members of the WTO (JSI) met at the sidelines of the World Economic Forum Annual Meeting in Davos, Switzerland, to affirm commitment to put up a set of rules that will govern the global digital economy.

The members agreed to continue to exercise pragmatism and flexibility to speed up the ongoing negotiations and conclude the agreement by end 2023.

Teo said the negotiations on e-commerce will be important to make sure there is high standard agreement.

The WTO director general said the JSI will strengthen digital inclusion and narrow the digital gap.

“I strongly urge members to further accelerate discussions to achieve substantial conclusion of the agreement by 2023,” she said.

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