In a bid to grow the Asia continent in digital trade, today, the American multinational technology company, Google has officially announced the unveiling of the new Indo-Pacific Economic Framework, IPEF in Tokyo to accumulate the continent digitally.
The information is contained in an exclusive report, titled: “A framework for Asia’s digital growth,” written by the Vice President of government affairs and public policy of Google Asia Pacific, Michaela Browning released today.
According to the tech giant, the IPEF is a new model of economic cooperation that intends to maximize the opportunities that arise from the global digital economy and advance a strong, affirmative digital trade agenda.
Browning noted that achieving digital growth in the region required an economic interaction and digital trade, as well as building the frameworks and competence to do so openly and responsibly, which can contribute to a more inclusive and sustainable recovery.
Emphasizing the need to give priority to inclusive trade, Browning pointed out that to stay up with technology changes, over 78 million workers in the Asia-Pacific require digital skills training. And Google and other tech giants have been striving to close these gaps; for example, Google’s Grow with Google initiative has trained over 58 million people across Asia in digital skills since 2015.
Browning, further explains that the new model of economic cooperation, IPEF will help remove impediments that make it particularly difficult for small enterprises to access overseas markets, such as the need that they open a local office before doing business.
Similarly, IPEF seeks to apply traditional trade principles such as openness and non-discrimination to the digital economy. As such it allows data to freely move across borders and make it possible for businesses of all sizes to offer digital products and services without discrimination while maintaining sufficient safeguards. And finally, allow customers to access and use their preferred internet services and applications.
Therefore, to achieve a sustainable and digitally-enabled recovery, Browning maintained that it requires collective action by governments, the private sector, civil society, and other stakeholders to ensure that digital technologies are widely accessible and that everyone has the skills needed to harness those technologies.
Consequently, to create better regulatory alignment and interoperability, ensure that the advantages of the digital economy are felt more widely, and address cross-border digital issues, new tools, policies, and collaborations are desired.