BREAKING: 75 Countries Launch WTO Talks Towards Global E-Commerce Rules

(From L) EU Commissioner for Trade Cecilia Malmstrom, Cathay Capital Private Equity Founder and President Cai Mingpo, Deutsche Bank CEO Christian Sewing, moderator Paula J. Dobriansky, UPS Chairman and CEO David Abney and World Trade Organization (WTO) Director-General Roberto Azevedo attends a session during the World Economic Forum (WEF) annual meeting, on January 24, 2019 in Davos, eastern Switzerland. Fabrice COFFRINI / AFPMinisters from 75 countries – including China and the US — launched talks towards drawing up global e-commerce rules amid growing calls for technology to be more closely regulated internationally, a statement said.

The talks were announced by the EU’s top trade official, Cecilia Malmstrom, on the sidelines of the World Economic Forum in Davos, and are to include the US and China, the world’s biggest economies.

“Electronic commerce is a reality in most corners of the world, so we owe it to our citizens and companies to provide a predictable, effective and safe online environment for trade,” Malmstrom said in the statement.