Ministry of Trade, Industry and Energy to Establish Response Team and Prepare Measures to Strengthen 'Digital Trade Competitiveness' This Year

[Asia Economy Reporter Kim Bo-kyung] On the 30th, the Ministry of Trade, Industry and Energy held the inaugural meeting of the 'Digital Trade Response Team' chaired by Deputy Minister for Trade Park Ki-young, with more than 20 participants from related ministries and public institutions.

The Digital Trade Response Team was formed to assess our competitiveness and devise response strategies in preparation for the major wave of global digital trade in the post-COVID-19 era.

Participants reviewed trends on key issues in ongoing digital trade negotiations, such as the WTO e-commerce negotiations and the Korea-Singapore Digital Partnership Agreement, to proactively respond to the rapidly accelerating changes in the digital trade environment caused by the novel coronavirus disease (COVID-19).

They also exchanged opinions on ▲joint discovery of digital international cooperation projects ▲domestic and international digital economy and trade-related systems and trends ▲and measures to raise corporate awareness of digital trade.

The Ministry of Trade, Industry and Energy plans to develop measures to strengthen digital trade competitiveness within this year through continuous consultations with related ministries.

Deputy Minister for Trade Park Ki-young anticipated, "As the COVID-19 pandemic accelerates the digital transformation of the global economy, the importance of digital trade in future global commerce will gradually increase."

He added, "Through future review meetings, related ministries and agencies will work together to devise response measures such as activating international cooperation on various digital trade issues."

This content was produced with the assistance of AI translation services.