” Around 80 nations forge landmark digital commerce pact; US stands apart ” | NewsPKOnline

Around 80 countries agreed on rules governing global digital commerce, including the recognition of e-signatures and protection against online fraud, but failed to secure the participation of the United States, according to reports on Friday.

After five years of negotiations, coordinators Australia, Japan, and Singapore released what they termed a “stabilised text,” which was lauded by the European Union as “historic news” and by Britain as “groundbreaking.” EU trade chief Valdis Dombrovskis announced on social media that the negotiations had resulted in the first global rules on digital trade.

Britain highlighted that the agreement commits all participants to digitizing customs documents and processes, recognising e-documents and e-signatures, and implementing legal safeguards against online fraud and misleading product claims. The text also aims to limit spam, protect personal data, and support least-developed countries.

Ninety-one of the World Trade Organisation’s (WTO) 166 members participated in the negotiations, including China, Canada, Argentina, Nigeria, and Saudi Arabia. However, the United States expressed that while the new text is a significant step forward, it falls short in certain areas and requires further work, especially regarding exceptions for essential security interests.

“We look forward to working with interested members in finding solutions to all remaining issues and moving the negotiation to a timely conclusion,” stated US WTO ambassador Maria Pagan.

Other countries, such as Brazil, Indonesia, and Turkey, also had reservations, primarily on minor points, according to a Geneva-based trade source. Despite the agreement, making it a formal WTO accord may be challenging, as consensus among all WTO members is required.

India and South Africa have been particularly critical of deals that exclude some members.