ASIAN DEVELOPMENT BANK EMBRACES DIGITIZATION TO DRIVE ECONOMIC GROWTH
February 18, 2019
On February 18, 2019, executives of the Asian Development Bank (ADB), led by Malaysia Board Director Dr. Anuar Bin Ariffin, met with GCEL at ADB Headquarters in Manila, Philippines to discuss the growing role of the Digital Economy in global trade and economic development.
ADB highlighted its research into emerging digital trade opportunities, including digital finance, e-commerce, big data, and blockchain technologies, and their impact on economic growth and commercial exchange.
GCEL presented findings from its G20 Nations Case Study, a comprehensive assessment of trade efficiency conducted in collaboration with more than 90 G20 ministries, IGOs, NGOs, academic institutions, and private-sector experts.
The study collected nearly 1.2 million data points across 19 industry clusters and revealed that 90.4% of B2B participants lack integrated systems, while 94.5% support the Digital Economy Platform as a means to improve competitiveness, efficiency, and growth.
