Six WTO Members Promote the Development of Electronic Commerce

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      China, which is fighting a trade war with the United States, hinted at conditional support for the initiative, but said that the needs of developing countries should also be taken into account. This may upset the United States.
E-commerce, the online transaction of goods and services, has become a huge part of the global economy. According to a WTO report, the total value of global e-commerce in 2016 is estimated to be 27.7 trillion US dollars, of which nearly 24 trillion US dollars are business-to-business e-commerce (B2B) transactions.
During the World Economic Forum in Davos, negotiators from 76 countries and regions agreed on Friday to work out a negotiating agenda, and they hope to start negotiations on new rules for e-commerce this year.
"I have said for a long time that it is unacceptable that there will be no more in-depth and effective consultation on the phenomenon of promoting global economic growth today by 2018," said WTO Director-General Azevido.
"China was not an original signatory, but now it is. They have confirmed their intention to consult on e-commerce. I think that's a welcome development, "he said at a briefing in Davos.
Japan's Minister of Economy and Industry, Hirohiro Shikong, said that Japan hoped to take advantage of its presidency of the Group of 20 (G20) this year to help speed up consultations.
"The current WTO rules are not in line with the needs of the 21st century, and their lack of reliable e-commerce rules is evident," Shi Geng Hongcheng said in a briefing at another workshop.
** China has a slight comment, India is absent **
Zhang Xiangchen, China's ambassador to the WTO, said that the joint statement on e-commerce could have been drafted better, but China was still willing to support it.


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