Third, the adoption of a “modular” approach such as DEPA should help broaden participation beyond the list of common suspects such as Japan, South Korea, Singapore, Australia and New Zealand. This approach opens the door for new entrants to sign parts of the agreement initially, while postponing the most difficult areas until they are ready. If the United States and its close partners are serious about promoting a digital economy model based on the values of openness and inclusion, this is an innovative way to encourage countries to engage in this model over time, allowing countries to join certain parties without delay. until they are ready to engage in anything. We hope to conclude more agreements with other like-minded economies in the future. At the same time, new technologies and business models are changing the way services are provided and delivered, already blurring the grey distinctions between goods and services and delivery methods, and introducing new combinations of goods and services. A smart refrigerator requires access to the market not only for the good, but also for the integrated service. And an item made by 3D printing, for example, can cross a line as a design achievement, but becomes a good one by altering its consumption. Together, these issues pose new challenges to the way international trade and investment policy is conducted. To prevent these threats, the United States must act now to advance a vision of a digital trade deal that can secure these opportunities for American workers, small businesses, service companies, and others. The case for U.S. leadership in digital trade is strong: it`s time for the U.S. to move forward with this important initiative.
The Digital Trade Inventory provides an overview of the rules, standards and principles of a number of international for a that underpin digital trade to help countries navigate the complex and evolving landscape of digital trade. Services dominate the U.S. economy today, but in the 20th century, it was long thought that international trade would bypass U.S. service sectors. However, this is no longer the case. The digital revolution is opening the door to global opportunities for america`s gigantic free and commercial services sector. This shift holds promise for the American middle class. Cross-border data flows are becoming increasingly important for the growth of the digital economy, as they support e-commerce and other digitally supported activities, such as data analytics and AI. Under the AEDs, the parties agree to allow the free flow of data across borders and to prohibit the location of data, except for legitimate purposes such as the protection of personal data. This enables a business-friendly environment: e-invoicing is the automated creation, exchange and processing of payment requests between suppliers and buyers using a structured digital format. AEDs enable interoperability of e-invoicing systems between countries, so that an e-invoice generated in Singapore can be accepted directly by another country`s e-invoicing system.
Businesses benefit from shorter invoice processing times and potentially faster payments, which translates into significant cost savings because they don`t have to create and track physical invoices. The rapid evolution of technology is also facilitating the increase of services in cross-border international trade. Information and communication technology services are the backbone of digital trade, provide the necessary network infrastructure and support the digitalisation of other types of services. New technologies have also facilitated the rise of digital services, supported by a number of new services based on innovative data-driven solutions such as cloud computing. Which sectors are these exactly? Professional and business services include computer, software and other ICT services; architectural, engineering, project management and specialized design services; accounting, accounting, auditing and payroll services; legal services; Council; research services; advertising; audiovisual and photographic services; banking, insurance and other financial services; travel arrangements and booking services; and waste management. The United States is home to world leaders in all of these growing industries. Connecting National Single Windows: Once established, a seamless, reliable and secure connection to our partners` single window systems will allow businesses to digitally exchange business data and reduce the time and cost of doing business. This enables the reuse of data and improves the efficiency of business operations in preparing business documentation for business and regulatory purposes. Digital trade data exchange also improves data accuracy compared to the need to enter multiple data with manual documents. The AEDs aim to build on Singapore`s extensive network of free trade agreements and other digital cooperation initiatives. They also complement Singapore`s leadership in the World Trade Organization (WTO) as co-organizer (with Australia and Japan) of the Joint Statement Initiative on Electronic Commerce (JSI).
The protection of personal data is essential to maintain trust in the digital economy and develop cross-border trade. When companies carry out electronic transactions across borders, personal data is transferred as part of those transactions. They should also monitor the different policies and legislation governing the cross-border processing and transfer of personal data, depending on countries` data protection systems. These findings, much more than official statistics, suggest that digital trade is already helping to increase U.S. small business exports and create jobs. The Chamber`s study found that the rise of digital commerce for small business exporters is particularly pronounced in the following three areas: these changes are occurring at an unprecedented rate. With increasing connectivity and a growing demand for just-in-time delivery, retailers need to be faster and more reliable than ever. While there is no single recognized and accepted definition of digital commerce, there is a growing consensus that it includes digital transactions of trade in goods and services that can be delivered digitally or physically and in which consumers, businesses and governments are involved.
In other words, while all forms of digital commerce are made possible by digital technologies, not all digital commerce is managed digitally. For example, digital commerce also includes trading goods and services that is digitally enabled but physically delivered, such as buying a book on an online marketplace or booking a stay in an apartment through an appropriate app. Electronic trade documents: The use of electronic trade documents for customs clearance (e.B. e-certificate of origin, e-PLC certification, etc.) helps to reduce the cost of processing paper documents. It also reduces the waiting time for the business documents needed at the destination, and it would also be possible to use the technology to ensure the authenticity and origin of the documents, which improves the efficiency of the business process. Overall, these trends are extremely positive news for the U.S. economy. Millions of high-paying U.S. jobs are already supported by international trade in services, and digital commerce offers exciting prospects for overseas sales growth for companies in these highly competitive U.S.
industries. Access to all OECD publications on digital trade in the OECD iLibrary. While these challenges are daunting, the Chamber and its members are convinced that the best defense against this trend is a good offensive: the United States must act quickly to strengthen international rules on digital commerce. These should include, inter alia, rules guaranteeing the possibility of data traffic across international borders, prohibiting the forced location of data and prohibiting customs duties on electronic transmissions. The digital economy includes economic activities carried out or facilitated by digital technologies. With digitalisation part of our daily lives, the New Zealand Productivity Commission (external link) recently said: “There is little that distinguishes the digital economy from the wider economy; In other words, the digital economy is the economy. Digital technologies can also foster the increased participation of women, Maori and rural communities in trade and help spread the benefits of trade in our communities and regions – a key objective of our Trade for All policy. The impact of the digital revolution on international trade has only just begun. Digital commerce is creating significant new opportunities for U.S. businesses of all sizes and in different industries – and not just for companies traditionally referred to as “internet companies.” As a result, U.S. companies and the workers they employ are able to reach millions of new customers overseas more easily, profitably, and faster than ever before.
The initiative of the WTO Joint Declaration on E-Commerce is a multilateral effort to lay the foundation for trade rules to secure digital trade flows. About 80 countries are currently participating in these negotiations. However, it is unlikely that this agreement will be concluded in the near future, in particular because of the participation in the negotiations of several countries that do not share the above objectives. DEPA will support New Zealand`s COVID-19 trade recovery strategy by helping to revive our business architecture. New Zealand`s trade networks provide predictable rules and other mechanisms to facilitate New Zealand`s exports of goods and services to markets around the world. .