The talks were launched in 2019, with the negotiating countries representing 90 percent of the WTO membership. Britain says once in place, the deal 'will make trade faster, cheaper, fairer and more secure'.
The talks were launched in 2019, with the negotiating countries representing 90 percent of the WTO membership. Britain says once in place, the deal "will make trade faster, cheaper, fairer and more secure".The ratio of e-commerce volume to general trade volume posted a significant hike in recent years, from 10.1 percent in 2019 to 20.3 percent in 2023. / Photo: AA Archive
Despite its growing importance,"no common set of global rules exist", British Trade Secretary Jonathan Reynolds said in the statement. It remained unclear if all the negotiating countries had signed onto the final agreement and how long it would take to implement. "This would be the first-ever set of baseline digital trade rules," Singapore's ambassador to the WTO Hung Seng Tan said in April.
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