First UNCTAD backed hi-tech policy work for developing nations unveiled in Colombo

From left: UNCTAD Senior Researcher Dr. Rashmi Banga, Sri Lanka DG Commerce Sonali Wijeratne, Minister of Industry and Commerce Rishad Bathiudeen  and Centre for WTO Studies’ Dr Abhijit Das of UNCTAD 

Sri Lanka’s Department of Commerce created history as it jointly launched the first ever ‘Policymakers’ Session on Digitalisation of Trade and Industries’ series by UNCTAD for UNCTAD member countries yesterday in Colombo.

“Our apparels, a major manufacturing export, are world class and this sector reported the biggest export earnings in history last year. This sector needs digitalisation support,” said Industry and Commerce Minister Rishad Bathiudeen.

“Sri Lanka faces a number of challenges on digitalisation. These include slower growth of digital skills, and the need to successfully digitalise the export sectors including apparel. Our understanding is that industrialisation and manufacturing are drivers of growth in Sri Lanka’s international trade,” the minister added. 

Joining the launch of the high level two-day session were DG Commerce Sonali Wijeratne, UNCTAD Senior Researcher Dr.Rashmi Banga, Centre for WTO Studies’ Dr Abhijit Das and top policy makers and Commerce Secretaries from South Asia, ASEAN countries and even Europe.

This UNCTAD initiative acknowledges E-Commerce as a tool to drive growth, narrow the digital divide and generate digital solutions for developing and least developed countries (LDCs). 

The multilateral trading system has recognized that digitalization has its positive impact on trade and has included it in their agendas. Along with nine other countries Sri Lanka has signed up as a member of the group on ‘Friends of E-Commerce for Development’. 

UNCTAD believes that the value of global e-commerce is huge -which was US $ 25 trillion in 2015 and is continuing to grow. 

“UNCTAD’s first ever policy session on Digitalisation of Trade and Industrial Policy is unveiled in Colombo today” said UNCTAD Senior Researcher Dr. Rashmi Banga.

“This is a first in a series of such session aiming to build country capacities. The second session in this ongoing series will be held in South Africa. This is not a series of negotiations with any country but rather is about building policy capacity of the countries, specially forging South – South cooperation,” she added.

At present UNCTAD has already been requested by several countries to come and support in formulating their digitalisation of trade and industrialisation policies. 
“A completed Digitalisation of Trade and Industrial Policy helps a country especially when that country enters any trade agreements.” Said DG Commerce Sonali Wijeratne and added that this is an important event for DoC in its partnership with UNCTAD. 

Colombo’s two-day exhaustive sessions, concluding today will include working sessions on e-commerce data inclusion, e-commerce in WTO framework, digital infrastructure development in South Asia, Trans Pacific Partnership Agreement (TPP) and digitalisation of South, WTO’s Trade in Services Agreement (TISA) and Digitalisation, regional digital cooperation in South, and country perspectives on digital trade and the WTO.