Miles Celic, Chief Executive Officer, TheCityUK, said:
“It is welcome news that the United Kingdom has joined the WTO Joint Initiative on Electronic Commerce. The Joint Initiative is the first ever global digital trade agreement. It is noteworthy that, once in force, the agreement will permanently ban customs duties on electronic transmissions between the parties – a provision long sought by TheCityUK and its allies. The agreement will be important for the UK-based financial and related professional services that TheCityUK represents, which rely heavily on the digitisation of international business. It will be equally significant for international trade in services as a whole.
“At a time when many countries are developing protectionist measures it is particularly encouraging to see an initiative which by supporting cross border trade in services will deliver jobs, growth and exports, particularly for SMEs who are the backbone of the UK and many other economies.”
