Trade and the digital economy

Abstract

The digital age has altered the antiquated methods of international transactions, and consequently called for updated policies expanding free trade law to new mediums of commerce. The WTO must act quickly to modernize its policies to accommodate new opportunities for global economic growth. Ecommerce, or digital trade, also includes transactions via telecommunications systems such as mobile devices. E-commerce and digital commerce can refer to the electronic delivery of services or the electronic purchase of services that are then delivered as tangible products. The infrastructure of ICT networks and services now gives some countries a comparative advantage for trade compared to countries with less developed infrastructure and accessibility to digital media. Additionally, cultural norms may prevent some populations from seeking out more technologically progressive means of monetary transaction