GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Government, Legal and Humanity

 
  Share
  • Technology-fueled new era of trade requires increased role of government in building soft infrastructure
  • Eight of ten job losses in advanced economies are impacted by new technology
Dubai, UAE, February 14, 2018 –  His Excellency Roberto Carvalho de Azevêdo, Director-General of the World Trade Organization (WTO), shared his thoughts on the relevance of the WTO in today's international trade context and on the challenges new technology poses for workforces of the future at the sixth edition of the World Government Summit (WGS 2018) in Dubai. 
 
In his session titled ‘The Outlook for Global Trade in a Hyperconnected World', moderated by CNN's Emerging Markets Editor John Defterios, he noted that, to remain effective, the WTO must adapt and introduce more flexibility. 
 
Roberto Azevêdo said: “The speed of transformation that we see today is unprecedented, so governments may want to prepare, but I would say 100 per cent of them, they are not prepared. And they are not doing enough to get ready.” 
 
He added: “Eight out of 10 jobs that are lost today in advanced economies are lost to new technology. They are not lost to trade or to immigrants, they are lost to new technology.”
 
Addressing the impact of new technology on trade, particularly the dynamism brought about by e-commerce, Roberto Azevêdo underlined the need for flexibility in the WTO. He said: “While each of the 164 member countries might not be prepared to participate in a discussion about e-commerce, it is important for them to join the conversation as it evolves.”
 
He added: “E-commerce is a reality. It's not going away. It's going to grow, and it's going to grow a lot faster and in ways which are different. A lot of the e-commerce that we see today is business-to-business. Business-to-consumer changes the world completely. The laws and regulations of consumer protection have to be thought about, cross-border transactions, digital signatures, the legality of contracts across the border, which legislation applies, return of merchandise – it's a world out there.”
 
In closing, His Excellency Roberto Azevêdo said: “We are changing from the era of the container to the era of the small packages. It's not only about the infrastructure. Often governments work on the infrastructure, such as ports, airports and facilities for transportation, for connection. But it's also about the soft infrastructure and thinking about the future. You may have all the physical infrastructure in place, but if the institutions and the people who handle them don't understand that they need to lower the costs, that they need to facilitate trade in this new era of the small package, you are going to be behind.”
 
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the World Government Summit 2018 runs from February 11 to 13 at the Madinat Jumeirah in Dubai. The landmark event convenes more than 4,000 participants from 140 countries, including heads of state and governments, as well as top-tier representatives of 16 international organizations. 
 
Hosting more than 130 speakers across 120 interactive sessions, WGS 2018 features six distinct forums that examine the challenges of vital sectors for the future with a view to finding the best resolutions for the greater global good. Furthermore, over 20 specialized global reports spanning key sectors and topics of the summit are being launched during the event.



Posted by : GoDubai Editorial Team
Viewed 6332 times
Posted on : Wednesday, February 14, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : WGS 2018: Graça Machel Offers a Moving Tribute to South Africa's Iconic Former President Nelson Mand...
Next Story : RTA announces Dubai World Congress and Challenge for Self-Driving Transport
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
The FW18 Trend Report From Weill Paris
Climax Mascara Never Fake It
Discover the Secret to Younger-looking, Radiant Skin
Keep your skin looking healthy and hydrated, naturally
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Nat...
Brow Contour Pro 4-in-1 defining & highlighting brow pencil
LOOTAH Perfumes brings a collection of delicate scents to fulfill the needs of t...
The Balmain Haute Elegance Oval mirrors the brand's soul
BodyO launches officially its AiPod for a full body check-up during the Gitex Fu...
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
Get flawless skin with Rodial's new Booster Drops
The World of Aigner Wunderkammer
Johnson's launches Fresh Hydration Range – Cleansed, hydrated skin in just #OneSwipe
Lexus Design Award 2019 open for entries
Elegant and feminine new Mini Bubble set to make a big splash
Trend Alert! Giddy up on the best platform with your new horse-inspo ensemble fr...
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology
Introducing the GUESS Jeans Fall 2018 Collection'
Curate your perfect Autumn Winter wardrobe, with Robinsons
Dubai Shopping Festival Returns With Much-awaited Mega Raffles
Mohammad Abdullah, President of Dubai Institute of Design and Innovation (DIDI)
Corum Heritage Eleganza- Dedicated to the stylish woman
Daniel Craig Brings the Diver 300m to the Surface
DS Podium Chronograph 1/100 sec
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch'
OMEGA gets set to time the Youth Olympic Games Buenos Aires 2018
Joyalukkas Celebrates the Festival of Light with Irresistible Offers
With more collections and a more spacious car parking, Kalyan Silks moves to El...
Malabar Gold & Diamonds to triple number of outlets to 750 and raise Group turno...
Global Report Reveals That the “Feeling of Home” Is Moving Beyond Four Walls
Fifi & Friends - Now available at more outlets across the UAE
Sharjah Government pavilion highlights digital transformation of Sharjah at GITE...
Kibsons Expand Vegan Range
Health Shield Medical Center to Celebrate Women of the Capital
Halloween “Catwoman” mask using BROW products
AXOR is the official partner for bathroom fixtures of the Design Hotels™ brand
Lacoste Introduces the Keep Playing Collection for Women
The Ford F-150 Raptor: Your Ultimate Partner for Off-Road Adventure
Nokia smartphones serves first slice of Android™ 9 Pie on the award-winning Noki...
Emirates Airline Dubai Rugby Sevens 2018 FactSheet
Sharjah Girl Guides Unleash their Power on International Day of the Girl Child
Festival Plaza Announces Lulu Hypermarket at New Lifestyle Destination
Western Digital powers AI-enabled storage for futuristic surveillance and security
BOLLYWOOD PARKS™ Dubai introduces 11 new shows with a new line up of performance...
SIBF 2018 Invites Young Visitors to the Wondrous Land of Edutainment
Nissan to Make Official On-track Formula E Debut
Toyota's legendary King goes urban with the 2019 Land Cruiser Grand Touring Edition
CITIZEN Unveils 100th Anniversary Limited Edition Collection
Win up to 250,000 Gold coins at Malabar Gold & Diamonds this festive season
UAE Toastmasters community to host the world champion of public speaking