Actively Incorporating Corporate Voices into Digital Trade Strategy

Joint Public-Private 'Digital Trade Strategy TF' Holds First Meeting on the 8th

[Sejong=Asia Economy Reporter Joo Sang-don] A public-private joint 'Digital Trade Strategy Task Force (TF)' meeting, involving the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Culture, Sports and Tourism, related government agencies, digital-related organizations, and industry stakeholders, was held on the 8th at COEX.

The government has been operating the 'Digital Trade Response Team' since July last year. This TF was launched to reflect the voices of domestic digital-related industries during the negotiation process of trade norms.

The main purpose of this TF is to prepare for the acceleration of the global economy's digital transformation due to COVID-19 and the expected full-scale discussions on digital trade norms following the inauguration of the Biden administration in the United States. Specifically, it will play roles such as ▲ identifying norm elements that reflect our interests based on difficulties faced by digital companies in overseas expansion ▲ analyzing the global competitiveness of digital companies and the expected effects by industry from adopting trade norms ▲ discovering international cooperation projects to support the overseas expansion of digital companies.

At this meeting, the Ministry of Trade, Industry and Energy explained Korea's digital trade negotiation trends, including the World Trade Organization (WTO) e-commerce negotiations, the Korea-Singapore Digital Partnership Agreement (DPA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) under consideration for accession, and listened to related opinions from government agencies and industry regarding the current status of trade responses by our digital companies.

Jung Dae-jin, Director General of Trade Policy at the Ministry of Trade, Industry and Energy, who presided over the meeting, said, "To closely respond to the upcoming digital trade norm negotiations and maximize national interests, it is essential to establish norms that reflect the voices of our companies." He added, "As both the public and private sectors deeply empathized with the importance of digital trade norm discussions through today's meeting, I ask for active participation so that Korea can play a leading role in the digital trade negotiation process."

In response, Ham Jae-chun, Secretary General of the Cloud Industry Association, said, "The government's prompt efforts to communicate with the industry and establish a digital trade strategy in a rapidly changing trade environment are encouraging." He added, "We will actively express opinions to ensure that necessary elements for business difficulties and market expansion are included in trade norms."

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