Around 80 countries have reached an agreement on global digital commerce rules, which include recognizing e-signatures and protecting against online fraud. However, the United States has not yet joined the accord.
After five years of negotiations, Australia, Japan, and Singapore, who coordinated the efforts, released a “stabilised text.” The European Union celebrated the development as “historic news,” while Britain described it as “groundbreaking.”
“We negotiated the first global rules on digital trade,” announced EU trade chief Valdis Dombrovskis on social media site X.
Britain highlighted that the agreement commits participants to digitize customs documents and processes, recognize e-documents and e-signatures, and establish legal protections against online fraud and misleading product claims.
The agreement also aims to limit spam, protect personal data, and support least-developed countries.
Ninety-one of the World Trade Organization’s 166 members participated in the negotiations, including China, Canada, Argentina, Nigeria, and Saudi Arabia.
The United States acknowledged the progress made by the new text but indicated that it still had concerns, particularly regarding exceptions for essential security interests.
“We look forward to working with interested members to resolve remaining issues and move the negotiation to a timely conclusion,” stated US WTO ambassador Maria Pagan.
Countries like Brazil, Indonesia, and Turkey also expressed reservations, mainly on minor points, according to a Geneva-based trade source.
Achieving a formal WTO agreement remains challenging, as it requires consensus among all WTO members. India and South Africa have been particularly critical of deals excluding certain members.