How China’s biggest digital trade show opens doors for small business
The Global Digital Trade Expo, China’s largest digital trade show, brought together 1,500 businesses from nearly 100 countries. Among them were 40 small businesses that work with the International Trade Centre (ITC) to tap into the global digital economy and embrace eco-friendly practices.
Digital trade lets micro, small and medium-sized enterprises reach global markets. As the UN’s small business agency, ITC works around the world to make sure that small businesses have the skills and resources to take advantage of those opportunities.
‘The digital economy has revolutionized how businesses operate. E-commerce, digital platforms, and online services have torn down the walls that once limited MSMEs, giving them unprecedented access to global markets,’ said Ashish Shah, ITC Director of the Division of Country Programmes, in a speech at the Expo.
Green development ensures that this growth is not just rapid but also sustainable,’ he said. ‘In a world where sustainability is now front and center, MSMEs that embrace eco-friendly practices are better positioned to tap into the rapidly expanding green markets. Consumers and businesses alike are demanding greener, cleaner solutions.
ITC brought 40 small businesses from Cambodia, Chile, Costa Rica, Ecuador, Honduras, Lao People's Democratic Republic and Myanmar to show their products in Hangzhou. They met potential business partners, and then travelled to Beijing for training sessions with the Academy for International Business Officials of China.
The China International Development Cooperation Agency supported this initiative.
Shah praised China for leading on both digital and green progress. He noted innovative new projects that ITC is developing with Chinese partners.
‘ITC will collaborate with partners in China to set-up a digital innovation and sustainable development center in Hangzhou,’ he said. ‘Through this partnership, we aim to empower SMEs in developing countries, especially in South-East Asia, helping them to integrate digital trade and green practices into their business models.’
China accounts for over 50% of global e-commerce transactions, and leads the world in green technology like solar panels and electric vehicles.
Shah also spoke at the launch of the Global Digital Trade Development Report 2024. It showed that last year, digital trade worldwide passed $7 trillion, growing at an average of 8.8% each year.
‘The Report highlights the need for global cooperation to create a fair, open, and inclusive digital trade environment,’ Shah said. 'Governments, businesses, and international organizations must work together to create systems that encourage innovation, protect data privacy, and make sure the digital economy benefits everyone, especially in developing countries.’
