Benefits of expanding internet access in trade

Bridging the Digital Divide: Empowering MSMEs in Developing Countries Millions of Micro, Small, and Medium Enterprises (MSMEs) in developing countries face a significant barrier to growth: the digital divide. Lack of access to technology, skills, and infrastructure limits their ability to compete, access markets, and reach their full potential. But there's hope! Initiatives like the one from the International Trade Centre (ITC) are working to bridge this gap and empower MSMEs with the tools they need to thrive in the digital age. Key strategies being explored: Improving infrastructure: Expanding access to affordable internet and technology in rural areas. Building digital literacy: Providing training and resources to equip entrepreneurs with essential digital skills. Facilitating e-commerce adoption: Helping MSMEs connect with online marketplaces and global audiences. Promoting affordable financing: Supporting access to financial solutions for technology adoption and digital transformation. The benefits are undeniable: Enhanced competitiveness: Digital tools can streamline operations, improve efficiency, and access new markets. Increased job creation: Digital MSMEs generate significant employment opportunities, especially for youth and women. Sustainable growth: Embracing digital solutions contributes to economic development and poverty reduction. Let's join forces to bridge the digital divide! What are some other challenges faced by MSMEs in developing countries? How can we further support initiatives like the ITC's? Share examples of successful digital transformation journeys by MSMEs in developing economies. #DigitalMSMEs #DevelopingCountries #BridgingTheGap #TechnologyforGood #InclusiveGrowth #ITCreport

From 2021, a granular vision for building #Digital Public Infrastructure for #digitaltrade - Augmenting #MSME Participation in #Trade with #Policy #Digitalisation Efforts: #Chile’s Contribution to ‘An #InternetofRules’ https://lnkd.in/eYaHsM2X The Internet’s potential to enable micro, small, and medium-sized enterprises (MSMEs) to conduct international commercial transactions has yet to be fully realised. Small enterprises, especially MSMEs based in developing countries, continue to face substantial obstacles to their participation in trade. While ‘International Economic Law’ has evolved amidst rapid globalisation and technological change, developing countries’ MSMEs are frequently unable to achieve the benefits associated with trade liberalisation. As ‘new generation’ agreements introduce further legal complexity in both the number and scope of trade rules, this article investigates Chile’s application of information and communications technology (ICT) to improve the accessibility and functionality of commercial policies. With an emphasis on computational approaches to trade policy design and delivery, the Undersecretary of International Economic Relations (SUBREI) of the Ministry of Foreign Affairs of Chile has launched a pilot programme to contribute to an open repository of rules in a digital form: ‘An Internet of Rules’ (IoR). Along with reference data, the computational expression and online publication of rules, that may be ‘in effect’ or ‘applicable’ to cross-border transactions, can improve access and use by people and machines alike. Against the backdrop of the country’s history of reform and membership in the World Trade Organization (WTO), the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP), and the Digital Economy Partnership Agreement (DEPA), the investigation articulates Chile’s ongoing contribution to an IoR as well as the alignment of its policy digitalisation efforts with national development strategies.