Despite decades of digital economy agreements, there is no single accepted definition of “digital trade”, said Nydia Ngiow, Managing Director, BowerGroup Asia. While digital transformation has certainly reduced the cost of engaging in international trade, facilitated the coordination of global value chains, and connected businesses with consumers globally, it has also given rise to more complex international trade transactions and policy issues, which are taking place at unprecedented speed, and trade rules need to be able to reflect that accordingly. Watch the video for more insights into digital trade facilitation, data regulations surrounding digital finance, and the opportunities and challenges facing fintech and e-commerce firms.
About the NPF International Trade Fellowship 2022
The National Press Foundation in collaboration with the Hinrich Foundation welcomed 22 Asia-based journalists to its International Trade Fellowship in Singapore last month. The five-day workshop, held at the Foundation’s offices in Singapore, touched on digital trade, trade agreements, and U.S.-China trade friction among other issues. The NPF International Trade Fellowship is part of an ongoing program of trade training for journalists and awards for trade coverage, sponsored by the Hinrich Foundation.
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