Following an official invitation from the China Council for the Promotion of International Trade (CCPIT) and the China Chamber of International Commerce (CCOIC), the Global Coalition for Efficient Logistics (GCEL) presented its Global Digital Economy Initiative to 600 delegates attending the Asia-Europe Meeting (ASEM) High Level Forum on Digital Connectivity in Qingdao, China on June 19-20, 2017.
China’s Vice Premier of the State Council, His Excellency Wang Yang, delivered the keynote address.
Established in 1996, ASEM is an intergovernmental process that aims at fostering political, economic, social dialogue and cooperation between Asia and Europe. Presently it comprises 30 European and 21 Asian countries, the European Union (EU) and the ASEAN Secretariat.
The presentation by GCEL was well received since it was noted that we should not pursue digitalization for digitalization sake but to achieve sustainable economic growth. The starting point for a global solution must begin by digitizing the global value chains within the global 140 trillion business-to-business market place that is projected to reach USD 312 trillion by 2025.
Since trade is important for national security of all nations, not one organization, country or region can deploy a global digital trade solution due to monopolistic, geopolitical and data privacy concerns. We must all be part of the solution.