Washington State Digital Trade: Barriers and Opportunities
BABC partner, Washington Council on International Trade, released new research on barriers and opportunities to Washington state digital trade.
Today’s digital economy is enabling business and society in ways not previously envisioned. In a relatively short time, computer technology leapt from simply being a productivity tool to becoming an essential and accessible hub of social and commercial interaction. The digital economy is reshaping how Washington State companies connect across borders, creating new ways for businesses of all sizes to reach new markets and customers through trade. Business and society often struggle to keep up with the rapid pace of economic and social change. This is especially true with international trade, as our institutions and accords must catch up with a new era in trade and business. Nowhere is this more important than how we modernize trade agreements in order to harness the opportunities digital trade present.
Businesses of all sizes and from all sectors use digital technology to trade. The internet, the move to cloud technologies, and the reliance on online commerce has changed the game for all organizations, especially small and medium-size enterprises. Our reliance on technology and digital commerce underscores the need for expanding existing rules to address current and emerging challenges. It is critical that trade policies be updated and modernized to account for these important changes.