OTTAWA – Canada has a golden opportunity to shape global policy on trade in the digital economy, according to a new report from the Conference Board of Canada.
The report, Canada’s Trade in a Digital World, says that while digitization has opened up new trading possibilities, Canada has yet to put forward "a leading-edge, clear digital trade strategy".
"With thoughtful and forward-thinking policies, Canada could have a major impact on emerging policy in this area”, said Danielle Goldfarb, associate director of international trade and investment centre, and author of the report. “Where Canada has a strong stake, it could shape policies that support greater confidence in digital technologies and trade, while balancing other public interest goals, such as privacy and security."
The report says that digitization – the translation of real-world information into a form that can be sent anywhere in the world using information and communication technologies – is now fundamental to every kind of international trade and investment. However, Canadian and global trade policy and research have focused largely on traditional trade barriers such as tariffs. For Canadian companies to truly benefit from globalization, Canada’s strategy on digital trade and investment must address the barriers to digital trade which include restrictions on data flows, services, people movements, technology trade, and investment.
