Executives of the Asian Development Bank (ADB), led by Malaysia Board Director Dr. Anuar Bin Ariffin, discussed the power of the Digital Economy with GCEL at the ADB Headquarters in Manilla, Philippines on February 18, 2019.
The ADB has identified the emergence of a new trade space which has tremendous implications for commercial exchange. They have dedicated resources on different areas of research, including digital finance, e-commerce, big data, and blockchain, to systematically examine how trade happens in the digital space and its development implications.
GCEL shared its findings from the G20 Nations Case Study, a diagnostic assessment of trade efficiency based on what technology makes possible today. The Case Study was completed in cooperation with more than 90 G20 ministries, IGOs/NGOs, academia and private sector experts.
Following the collection of nearly 1.2 million data points through face-to-face interviews across 19 industry clusters, the results were staggering: 90.4% of B2B participants do not have an integrated system and 94.5% have commonly defined and want the Digital Economy Platform tools to be more competitive.