Global Regulations Should Keep in Step With Technology, Insists Augusto Beato

November 29, 2018
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Portland SEO's Augusto Beato urged international trade organizations to come up with global e-commerce guidelines not only to protect the health of consumers but also to address other pressing issues like taxation.

Beato was reacting to news that there is a protect against Amazon and eBay for marketing “dangerous and illegal mercury-based skin lightening creams,” which is part of a coordinated global campaign against a growing health hazard in the field of cosmetics. “It’s important for governments to enact or enforce regulations quickly to effectively warn consumers,” said Beato, who is the CEO of Portland SEO.

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However, Beato pointed out that these kinds of protests could not be fully acted upon sans the implementation of e-commerce guidelines.

Beato noted that even World Economic Forum's head of digital trade, Ziyang Fan, has called for members of the World Trade Organization to agree on global e-commerce guidelines. Fan called the lack of digital trade guidelines "a perfect example" of how regulatory frameworks are failing to keep up with technological advancements.

The WTO oversees around 60 trade agreements between 164 member states, but it is lagging behind the fast-moving digital economy having yet to update regulations for digital trading services.

Digital trade — or the digital sale of goods and services — has grown rapidly over recent years as the advent of new technologies has made it easier for businesses to serve consumers on an international scale.

Today it accounts for 12 percent of international trade. Fan said that growth is only set to gain pace over the coming decade.

SOURCE: Press Advantage [Link]

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