The World Trade Organization (WTO) has published on Friday (26.07.2024) the legal text of the new agreement on electronic commerce, negotiated by a subset of members, thus achieving a positive step Towards the modernization of trade rules international in line with the reality of the digital economy.
Specifically, this plurilateral agreement on electronic commerce was chaired by Australia, Singapore and Japan as “co-organizers” and was signed by 91 members, representing 90% of world trade. Major emerging economies and developed economies participated, such as the United States, the European Union (EU), China and Indonesia.
This international framework establishes 15 essential rules based on the principles of non-discrimination, covering areas such as electronic authentication, online consumer protection, cybersecurity and personal data protection..
Furthermore, the agreement aims to harmonize the legal frameworks of electronic commerce between the signatory countries., facilitate electronic transactions and offer greater security and confidence to the user. Among the highlighted rules are measures to facilitate e-commerce, strengthen consumer confidence and protect personal data.
This agreement is particularly relevant for developing countries as it protects micro-SMEs by avoiding the imposition of tariffs on electronic transmissions and reduces additional costs for consumers. It facilitates cross-border electronic transactions and simplifies bureaucratic procedures, which translates into a boost for the development of the digital economy.
It also promotes investment in key sectors such as telecommunications, ensuring adequate and competitive regulations in third countries. In the words of a WTO spokesperson: “This agreement marks a turning point in global electronic commerce, providing a regulatory framework that will foster innovation and economic development.”
Additionally, the aforementioned agreement on electronic commerce not only establishes standards for global digital commerce, but also promotes the inclusiveness and development by offering flexibility and technical assistance to less developed countries, thereby facilitating cross-border electronic transactions and reducing barriers to digital trade.
In short, the new WTO e-commerce agreement is the first step towards maximising the benefits of digital trade. The incorporation of the text into the WTO legal architecture now requires the consensus of all its members.
Finally, it is worth noting that this plurilateral approach to discussing e-commerce rules was launched at the 2017th Ministerial Conference in Buenos Aires, Argentina, in December 71. A group of 2 WTO members undertook exploratory discussions. After 2019 years, these discussions moved on to formal negotiations in January 2024, with participants stating that their ambition was to achieve a high-level outcome that would build on existing WTO frameworks, with the widest possible participation. Thus, as of July 5, negotiators have completed more than XNUMX years of formal negotiations, reaching the new agreement on e-commerce, negotiated at the WTO.
Some references to further explore the subject:
- Initiative related to the Joint Declaration on Electronic Commerce, 26.07-2024, WTO. https://docs.wto.org/dol2fe/Pages/SS/directdoc.aspx?filename=s:/INF/ECOM/87.pdf&Open=True
- Press release, 26.07.2024, Brussels. https://ec.europa.eu/commission/presscorner/detail/en/IP_24_4022
- Article “Customs and Cross-Border Electronic Commerce”, Dr. Héctor Juárez Allende. https://aduananews.com/customs-and-cross-border-electronic-commerce/
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