DIGITAL ECONOMY HIGHLIGHTED AS A KEY THEME AT THE B20 CHINA JOINT TASKFORCE MEETING AT THE OECD

During the B20 China Second Joint Taskforce Meeting held in Paris, France, on May 31, 2016, in association with the Organisation for Economic Co-operation and Development (OECD), the Digital Economy was identified as a key driver of global trade and economic growth.

GCEL contributed to discussions within the Trade and Investment Taskforces, highlighting how the digitization of trade can reduce business risk, improve supply chain efficiency, and support implementation of the World Trade Organization’s Trade Facilitation Agreement (TFA).

At the SME Development Taskforce, GCEL advocated for the adoption of a Digital Economy Platform that would provide businesses with digital tools to reduce trade costs, improve access to finance, and strengthen connections to international markets.

GCEL also emphasized that a global Digital Economy Platform should operate through a balanced public-private partnership model, ensuring that no single country, region, or organization controls critical trade infrastructure.

To address concerns related to privacy, security, and trust, GCEL proposed the development of a Global Data Security Standard based on a multi-layered framework for protecting trade information and supporting international cooperation.