Despite a commendable growth in digitally deliverable exports in Asia Pacific region, the progress remains uneven, with only a handful of economies dominating this landscape, according to a recent UN report.
The Asia-Pacific Trade and Investment Report 2023-2024 says that while the Asia-Pacific region showcases a robust 9% growth in digitally deliverable exports, the concentration of these exports within a select few economies poses a challenge. Shockingly, the least developed countries (LDCs) accounted for less than 1% of the region’s digital exports in 2022, highlighting significant disparities.
CALL FOR INCLUSIVITY AND PEOPLE-CENTERED APPROACH
Rebeca Grynspan, UNCTAD Secretary-General, stresses the need for collective action to ensure inclusivity in digital trade. She emphasizes that technology should not overshadow people and advocates for opportunities accessible to all, regardless of their geographical or socio-economic backgrounds.
IMPACT OF DIGITAL TRADE ON ECONOMIC GROWTH
The report establishes a direct correlation between digital trade and a nation’s economic growth, indicating that a 1% rise in digital trade value corresponds to a 0.8 percentage point increase in real GDP per capita. However, this growth is contingent on internet accessibility, revealing a glaring digital divide between high-income and lower-income countries.
BRIDGING THE DIGITAL DIVIDE: A COLLABORATIVE EFFORT
ESCAP Executive Secretary Armida Salsiah Alisjahbana underscores the urgency in narrowing this digital gap, stressing the importance of concerted efforts.
The report advocates for inclusive policies, harmonized regulations, and strengthened capacities in less developed countries to partake in the digital economy.
IMPERATIVE ROLE OF POLICY AND COLLABORATION
The report outlines key policy measures, including regulatory frameworks, cybercrime prevention, and consumer protection laws, necessary for fostering a conducive environment for digital trade. Collaboration across governmental departments and agencies becomes pivotal in addressing the multifaceted challenges arising from digitalization.
COMMITMENT TO INCLUSIVE DIGITALIZATION
UNIDO Director General Gerd Müller highlights the complexity of managing the social and environmental impacts of digital trade and emphasizes the need for collective action. UNCTAD reaffirms its dedication to aiding regional countries in enhancing their digital trade capabilities and fostering a global dialogue for more inclusive and sustainable outcomes.
