The United Nations Conference on Trade and Development (UNCTAD) reported that it will implement an evaluation of electronic commerce in Peru. This country is the first beneficiary of this type of program in Latin America and the Caribbean, that will contribute to economic recovery in response to the crisis generated by the Covid-19 pandemic,” according to official sources.
It will also help Peru mobilize support and strengthen public-private dialogue, as well as inter-ministerial coordination for electronic commerce, adds the statement released on Monday (17).
“Digital transformation will undoubtedly offer opportunities for Peru to advance its economy. Given the cross-cutting nature of e-commerce, cooperation between development partners and beneficiary countries is essential for effective implementation,” said the UNCTAD Secretary-General Rebeca Grynspan.
The Peruvian government is committed to boosting the digital economy, e-commerce, digital entrepreneurship and innovation, especially to benefit small and medium-sized enterprises (SMEs), added Marushka Chocobar, Peru’s Secretary of Government and Digital Transformation. “This assessment is particularly relevant to identify the needs of regional and local governments and to drive the advancement of the digital economy in Peru,” she said.
To this end, multi-stakeholder consultations were held from 4 to 6 October 2022, in the Peruvian capital of Lima to map opportunities, challenges and policy solutions.
Promotion
UNCTAD reported the promotion of stakeholders such as the United Nations Commission on International Trade Law (UNCITRAL) and the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) joined the consultations, as well as Pierangela Sierra, Defender of eTrade for Women of UNCTAD for Latin America and the Caribbean.
This evaluation is also the first of its kind to receive support from a donor partner such as Switzerland.
Flourishing e-commerce
It should be noted that Peru is registering one of the highest growth rates in e-commerce in Latin America and the Caribbean, boosted by the COVID-19 pandemic. According to UNCAD, online sales in the country amounted to USD9.300 billion in 2021, 35% more than in 2020, based on data from the Peruvian Chamber of Electronic Commerce.
With the growth of digital payments, Peru's e-commerce market is expected to reach $14 billion by the end of 2022, the U.S. International Trade Administration estimates.
Seven policy solutions
While Peru must develop a national e-commerce strategy, government actors, businesses and international partners have focused on seven policy solutions:
-ICT Infrastructure and Services: It is crucial to adapt the regulatory framework and work with local governments to mobilize private investments to expand Internet coverage in rural and remote areas.
-Stronger legal and regulatory frameworks: It is essential to involve all relevant stakeholders of the e-commerce ecosystem in the design and reform processes.
-E-commerce logistics: There is a need to improve road infrastructure, adapt airport capacity and provide more resources to help postal operators modernize their operations through digital transformation.
-Trade facilitation: It is important to continue implementing paperless cross-border trade procedures and to adapt and optimise customs IT systems.
-Promote electronic payment: Efforts are being made to achieve greater interoperability between different solutions, as well as to incorporate new players and innovative solutions, which could reduce transaction costs and increase financial inclusion.
-Lack of digital skills: It will be essential to increase support for the digital transformation of SMEs to achieve greater scalability and digital entrepreneurship within Peru.
It should be noted that Peru has created, within the framework of the international evaluation for electronic commerce, a national technical committee for electronic commerce, made up of the most relevant national stakeholders, in order to improve coordination.
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