The UK sets out plans to bolster global digital trade (DCI) by increasing the global digital market

The UK sets out plans to bolster global digital trade (DCI) by increasing the global digital market ...

The government, saying that improving digital trade would provide major opportunities to British businesses and boost economic growth, made it possible for them to succeed, has said, as the board of trade, aiming to become a world leader in modern services and online goods.

The board, headed by the trade minister Anne-Marie Trevelyan, said the government should look into digital trade deals and shape global trade rules suitable for the modern world.

By addressing digital protectionionism on the global stage and fostering a free, open and competitive digital economy, more UK companies can export their innovative, high-quality goods globally, Trevelyan said in a statement.

In October, Britain helped broker a deal between the group of Seven wealthy nations in order to ensure a legal basis for cross-border data use and digital trade in a first step in reducing barriers.

The Trade Board, which is a government authority committed to promoting exports and inward investment, said Britain should aim to establish a global consensus on digital rules, norms and standards, in a joint effort with its partners.

Digital trade is generally defined as trade in goods and services whose action is either enabled or delivered digitally, and encompasses activities from broadcasting to professional services.

In the report, Britain should focus on the achievement of the International Trade Convention and Trade Agreements with a fast growing Indo-Pacific market and large, service-based economies, as well as progressing the UK's integration to the Comprehensive and Progressive Agreement for TransPacific Partnership (CPTPP), in particular.

It said that there should also be a Digital Economy Agreement with Singapore, which would be regarded as the world's leading digital technology leader, so that it would demonstrate the potential for a digital trade agreement to other countries within the World Trade Organization, it said.

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