Tag Archives | risk assessment Information and Communications Technology, TradeRegional Cooperation, Trade
By Alisa DiCaprio. Posted May 11, 2017
Electronic documentation in trade has made impressive recent gains in Asia and the Pacific. Up to 38% of banks in the region report progress in digitizing their operations in 2015, and more than a third of countries had partially or fully implemented electronic customs systems by the end of last year. Read more.
In 2015, Central Asia made some important improvements in the environment for cross-border e-commerce: Kazakhstan's accession to the World Trade Organization (WTO) will boost commercial transparency, while the Kyrgyz Republic’s membership in the Eurasian Customs Union expands its consumer base. Why e-commerce? Two reasons. First, e-commerce reduces the cost of distance. Central Asia is the highest trade cost region in the world: vast distances from major markets make finding buyers challenging, shipping goods slow, and export prices high. Second, e-commerce can help pull in populations that are traditionally under-represented in export markets such as women, small businesses and rural entrepreneurs. Read more.
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