ICT is Key in Reviving Global Trade

During the Asia-Pacific Digital Innovation Summit (APDIS 2009) held in Melbourne, Australia on December 14 – 17, WITSA Chairman Dato’ Dan E. Khoo pointed out that ICT is an essential tool to revitalize cross-border trade and revive the world economy in the wake of the recession caused by the financial crisis of 2008.

Information and communications technology (ICT) is an enabler of growth and development for all industries that together contribute an estimated US$19.5 trillion in global trade this year. Although ICT constitutes only about 20% of merchandized and services exports, its impact on economic growth far exceeds its share of total global trade. As a horizontal tool, ICT is an enabler of growth and development for all other industries that collectively contribute to the other 80% of global trade.

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