Azevedo pointed out that technologies such as blockchain, artificial intelligence, Internet of Things, 3D printing and other breakthroughs will fundamentally change business, calling it a revolution.
Digital technology brings enormous new opportunities for consumers and businesses around the world. If governments can create the right framework for rapid technological development, world trade will grow rapidly, the WTO believes. Even small and medium companies can benefit from it.
Thanks to technology, consumers will soon not care whether a product is available locally or thousands of miles away. They can search worldwide for what they need, compare product quality and reputation, and order products made to suit their wishes. Technology also helps overcome language barriers.
Reliable internet access throughout the country
However, one of the prerequisites for taking advantage of digitalization development opportunities is that the government must provide reliable Internet access throughout the country, especially outside cities and in developing countries, so that people can access global markets. Cross-border trade should also be encouraged, even if this creates new competition.
The WTO points out that although the benefits of open and free trade policies and the negative impacts of restrictive policies and regulations have been proven, some countries still implement measures to protect domestic companies from foreign competition. However, he did not directly mention the United States' current interventions against China, the EU and other countries.
Between 2013 and 2015, online trading turnover increased by 56 percent to around 25 billion dollars (557.8 billion CZK). In 2016, the amount increased to 27.7 billion dollars, write DPA and Reuters.
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