UK units out plans to spice up world digital commerce

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LONDON, Nov 25 (Reuters) – Improving digital commerce would supply large alternatives for British companies and assist enhance financial progress, the federal government’s Board of Trade mentioned, setting out the way it goals to turn out to be a world chief in fashionable providers and on-line items.

In a report on digital commerce to be printed on Friday, the board, headed by commerce minister Anne-Marie Trevelyan, mentioned the federal government ought to look to strike digital commerce offers and assist form world commerce guidelines appropriate for the trendy world.

“By addressing digital protectionism on the global stage and championing a free, open, and competitive digital economy, more UK companies will be able to export their innovative, high-quality services and goods globally,” Trevelyan mentioned in a press release.

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In October, Britain helped dealer a deal between the Group of Seven rich nations on ideas to control cross-border knowledge use and digital commerce in a primary step to decreasing obstacles. learn extra

The Board of Trade, a authorities physique tasked with championing exports and inward funding, mentioned Britain ought to intention to construct on the G7 settlement by working with companions to pursue a wider worldwide consensus on digital guidelines, norms and requirements.

Digital commerce is broadly outlined as commerce in items and providers that’s both enabled or delivered digitally, encompassing actions from the distribution of movies and TV to skilled providers.

The report mentioned Britain ought to focus significantly on securing Free Trade Agreements with the fast-growing Indo-Pacific market and huge, service-based economies, in addition to quickly progressing the UK’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

It must also search a Digital Economy Agreement with Singapore, considered as a world chief on digital, to be able to show the potential for digital commerce guidelines to others within the World Trade Organization, it mentioned.

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Reporting by Kylie MacLellan
Editing by Alistair Smout
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Britain's Secretary of State for International Trade Anne-Marie Trevelyan arrives in Downing Street in London, Britain, November 11, 2021. REUTERS/Henry Nicholls