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"eTrade for All" a new initaitive by UNCTAD

Update On :20 July 2016

The United Nations Conference on Trade and Development (UNCTAD) launched an initiative that would help developing countries take advantage of the rapidly growing opportunity in the #22.1-trillion global electronic commerce market.“A huge divide is opening between countries that are exploiting those opportunities and those that are not,” UNCTAD Secretary-General Mukhisa Kituyi said ahead of the initiative’s launch at the opening of the fourteenth session of UNCTAD (UNCTAD 14).

E-commerce includes both business-to-business (B2B) and business-to-consumer (B2C), respectively, valued at around $19.9 trillion and $2.2 trillion each, according to new UNCTAD data. This trade is mostly domestic but is becoming more and more international.The new initiative, eTrade for All, brings international organizations, donors and businesses under one umbrella to ease access to cutting-edge technical assistance by developing countries and give donors more options for funding.

UNCTAD said that while more than 70 per cent of people are shopping online in countries like Denmark, Luxembourg and the United Kingdom, the story is different in most developing countries. In Bangladesh, Ghana and Indonesia, for example, just 2 percent or less of the population buy online.With strong involvement by the private sector – through a new Private Sector Advisory Council – and with financial contributions from the governments of the United Kingdom of Great Britain and Northern Ireland, Sweden, Finland and the Republic of Korea, the eTrade for All initiative will support developing countries which express an interest in boosting their online commerce.

It will be able to help in seven policy areas, including e-commerce assessments, information and communications technology infrastructure, payments, trade logistics, legal and regulatory frameworks, skills development and financing for e-commerce.

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