Davos – Seventy five countries, including the European Union, the United States and China, initiated talks on international rules to regulate online trade, on the sidelines of the World Economic Forum on Friday.
“The talks will be held under the framework of the World Trade Organisation (WTO),” WTO chief Roberto Azevedo and European Trade Commissioner Cecilia Malmstrom said at the meeting in the Swiss resort of Davos.
According to Malmstrom, electronic commerce is a reality in most corners of the world, “so we owe it to our citizens and companies to provide a predictable, effective and safe online environment for trade.”
Azevedo tweeted: “This is a big step in modernising the work of the WTO.”
According to the EU, the rules would improve trust in online trade and tackle current barriers that prevent cross-border online sales.
In addition, they should guarantee the validity of electronic contracts and signatures, and ban customs on electronic transmissions.