Meeting on the sidelines of the World Economic Forum, 76 countries, including Argentina, represented by the Secretary for International Economic Relations of the Foreign Ministry, Horacio Reyser, ratified their willingness to begin negotiations on electronic commerce at the World Trade Organization (WTO) with a view to achieving the best possible outcome within the framework of current regulations.
Participants signed the Davos Joint Declaration which aims at facilitating electronic commerce and adding as many countries as possible to this initiative. The Declaration follows up on the Initiative of Buenos Aires on the same topic, launched at the 11th WTO Ministerial Conference in Buenos Aires in December 2017.
Furthermore, the signatory countries recognized the specific challenges and opportunities that electronic commerce presents for developing countries and micro, small and medium-sized enterprises (MSMEs).
In 2016, according to the WTO, electronic transactions amounted to USD 27.8 trillion, including USD 23.9 trillion from B2B transactions. Reyser stated that: "Electronic commerce is the future of trade and it represents a huge opportunity for Argentine products to reach new consumers, overcome distances and participate in global value chains."
(Foto: World Economic Forum / Ciaran McCrickard)
