Slow evolution of global rules on digital trade, e-commerce hurting: RIS – Fortune India
Summary
Global regulations on digital trade and e-commerce are evolving too slowly, according to New-Delhi based policy research institute, Research and Information System for Developing Countries (RIS). Flagging the mesh of plurilateral agreements that sidestep the consensus principle (including on e-commerce) at the WTO in its report, the think thank says this is a major barrier in governing digital trade flows.
The diverse approaches to data flow and privacy protection in major economi…….
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Global regulations on digital trade and e-commerce are evolving too slowly, according to New-Delhi based policy research institute, Research and Information System for Developing Countries (RIS). Flagging the mesh of plurilateral agreements that sidestep the consensus principle (including on e-commerce) at the WTO in its report, the think thank says this is a major barrier in governing digital trade flows.
The diverse approaches to data flow and privacy protection in major economies like the US, China, and the EU, the World Trade and Development Report 2021 says, can have implications beyond national boundaries. “Amidst the absence of any agreed framework specific to Digital Trade/E-Commerce under WTO Agreements, the Regional Trade Agreements (RTAs) have come to adopt certain provisions on e-commerce and digital trade issues. Such efforts lack uniformity and leave regulatory space wide-open. The fragmented approach to data governance prevents new technologies from unleashing their positive potential and mitigation of potential harms.”