Mar '16
At the Boao Forum for Asia, the founder of the world's largest e-commerce company called for the establishment of “a new platform on which we are not debating, not having disputes, we are sharing trade.”
“On this platform we are promoting technologies as well as inclusive financing, so all [small businesses] and young people can enjoy the benefits of trade, so we are connecting the world with trade.”
Ma's ultimate goal is the creation of a virtual, borderless economy not constrained by politics. He calls the vehicle for achieving this, the World e-Trade Platform, or eWTP. As envisioned, the eWTP would be set up primarily to formulate international rules to eliminate barriers to e-commerce and help small businesses and consumers everywhere participate in cross-border trade. The online platform would be open to a wide range of stakeholders including SMEs and would not be dominated by governments and multinational corporations.
At the Boao forum - a business, government and academic leadership conference held annually on China's Hainan Island - Ma said the WTO, which promotes free trade through lower tariffs and other trade barriers, “did a great job” in the last century in fostering a more global economy. China in particular after it joined the WTO in 2001, experienced tremendous economic growth, he noted.
But globalization's benefits have accrued unevenly and the WTO's current rulemaking round, called the Doha Development Round, has been stalled for the last 15 years, largely over differences between developed and developing nations, Ma pointed out.
The eWTP's purpose is to help “the 80 per cent of companies and developing countries that cannot participate in world trade,” he said, adding, “It is not the purpose of the eWTP to destroy the WTO, but to try to destroy trade protectionism.”
Ma stressed that he saw the proposed body as “complementary to the WTO … [so that] more nations that are poor like China was 15 years ago, let them enjoy the trade.”
“Let's make trade simpler, let's take out some of the rules and laws that are not working, to move trade faster,” Ma said. “Let businesses drive it with governments and NGOs and other organizations participating.”
During a Boao panel discussion focusing on Ma's eWTO proposal, Indonesia Trade Minister Thomas Lembong and Luis Alberto Moreno, president of the Inter-American Development Bank, expressed support for the initiative.
Must ReadView All
Textiles | On 19th Apr 2018
Global economic upswing became broader & stronger: IMF
The global economic upswing that began around mid-2016 has become...
Textiles | On 19th Apr 2018
ITMA 2019 expanding space due to overwhelming response
Due to overwhelming response, the exhibition space has been increased ...
Apparel/Garments | On 19th Apr 2018
BIDA’s Europe trip to showcase a different Bangladesh
The Bangladesh Investment Development Authority (BIDA) is taking a...
Interviews View All
Headhonchos
Indian textile value chain
Adopt innovative techniques, go for automisation rather than being...
Janak Dhamanwala & Sunil Dhamanwala
Jansun
Moving towards sustainability is also a social change
Kamlesh Vaghela
RK Textiles
Very few machinery manufacturers have R&D units
Fynd is the central online shopping destination for fashion, offering...
Textile Events is one of the largest textile fair in the United Kingdom,...
Manila-based CustomThread is a start-up offering premium custom apparel...
Paolo Ocleppo
Sandvik Hyperion
Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...
Silke Brand-Kirsch
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Iago Castro Asensio
RCfil Distribuciones S.L.
Iago Castro Asensio, International Business Manager of RCfil...
Madhu Jain
Madhu Jain
She grew up in the walled city of Old Delhi, completed her studies, and...
Robert Brunner
Devereux
Golfwear and menswear brand Devereux is set for greener pastures. Robert...
Anisha Chaudhari
Threads & Shirts
Threads & Shirts is a freshly-tailored concept providing men/women a...
Leave your Comments
Recommended
Want to know what happened in the textile world this week? Watch now!
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 103
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 103
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 103
Thanks for your valuable feedback. Claim your free latest sustainability e-book.
Active Poll
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
YesTotal Votes: 103
E-News Insight
Latest News Update in Your Mail Box.
