Converging thoughts on digital trade in preparing for the future

There is a growing convergence on the view that the factor having had the most significant impact on trade in recent years is the introduction of new and innovative technologies. The speed and intensity of the IT evolution are affecting trade and more generally our day-to-day lives in unprecedented ways. It has rendered interactions possible between humans, between humans and machines and between machines in ways that could not be imagined even a few years ago. The digital era is a new reality, and it is driving economic growth and development. It poses both challenges and opportunities on all levels. It offers an opportunity for developing countries to better participate in international trade, e.g. through global value chains (GVCs), but there is no prescription how to do that.