The promise of TradeTech: Policy approaches to harness trade digitalization
TradeTech adoption is moving fast, largely driven by the private sector. But leveraging technologies for trade requires more than innovation: trade policy must keep pace. The major challenge might be international policy coordination and coherence. Uneven deployment due to regulatory fragmentation could result in unintended consequences of unequal growth, threats to cybersecurity and a growing trend in technonationalism. This publication identifies the building blocks for TradeTech policy adoption: the 5 Gs of TradeTech. Trade agreements and plurilateral initiatives are exploring the interplay between technology and trade and can benefit from considering these blocks to drive global adoption and scalability.
TradeTech adoption is moving fast, largely driven by the private sector. But leveraging technologies for trade requires more than innovation: trade policy must keep pace. The major challenge might be international policy coordination and coherence. Uneven deployment due to regulatory fragmentation could result in unintended consequences of unequal growth, threats to cybersecurity and a growing trend in technonationalism. This publication identifies the building blocks for TradeTech policy adoption: the 5 Gs of TradeTech. Trade agreements and plurilateral initiatives are exploring the interplay between technology and trade and can benefit from considering these blocks to drive global adoption and scalability.