UN treaty strengthening Asia-Pacific digital trade gains support

“Escap member-states have played a leading role in the development of the trade agreement,” said Shamshad Akhtar, United Nations Undersecretary-General, referring to the United Nations Economic and Social Commission for Asia and the Pacific, of which is also executive secretary. Several other countries at the signing ceremony hosted by Escap in Bangkok also committed to endorsing the treaty during the United Nations General Assembly session in New York next month. Open to all 53 Escap member-states, the treaty illustrates the Asia-Pacific region’s leadership in adopting innovative trade-facilitation measures. It will provide the foundation for participating countries to cooperate and accelerate progress in achieving paperless trade across borders, cut trade time and costs, and ultimately boost economic competitiveness. The signing ceremony was part of the High-Level Dialogue on Enhancing Regional Trade through Effective Participation in the Digital Economy taking place this week in Bangkok. The treaty will come into force 90 days after five countries have ratified it.