E-commerce revolution must include small businesses, says Dr Kituyi

Entrepreneurs and small business must be included in the e-commerce revolution, UNCTAD Secretary General Dr Mukhisa Kituyi has said.

Dr Kituyi hs stated that the inclusion of entrepreneurs and small businesses in e-commerce would create employment opportunities thus improving the livelihoods of a majority of marginalized people.

“With the global economy now in its sixth sluggish year of growth, many are hoping that e-commerce can generate the jobs and livelihoods that more traditional work has been unable to provide,” said Dr Kituyi ahead of a meeting on small business and e-Trade taking place in New York.

Last year, the global market for electronic commerce was worth around $22.1 trillion, up 38 per cent from 2013.

“E-commerce is a train that has left the station and is quickly gathering speed,” said the Secretary General. “The challenge is to get as many people aboard this train as possible, so that e-commerce can usefully contribute to inclusive growth,” he added, referring to the Sustainable Development Goals (SDGs) and goal 8 in particular.

Dr. Kituyi was speaking ahead of a high-level forum, titled “Empowering SMEs through e-Trade and Investment Facilitation” at the UN Headquarters in New York yesterday.

He confirmed that the conversation will look at ways to engage entrepreneurs and small business in the e-trade revolution.

“By connecting untapped markets through internet and mobile network platforms, online commerce can allow entrepreneurs and small business to produce and trade goods and services, source inputs, reach customers and clients, and connect to global and regional value chains,” he explained.

However, Mukhisa warned that a huge gap is opening up between countries and firms that are able to exploit these opportunities and those that cannot.

“Existing platforms and rules for global trade are skewed towards the interests of large corporations, leaving few opportunities for small and medium-sized enterprises,” he lamented.

The conversation takes place just two months after UNCTAD’s work on e-commerce made a significant leap forward with the July launch of the ‘e-Trade for All’ initiative at the UNCTAD 14 Conference recently held in Nairobi.

The initiative brings together 15 international organizations and 22 private sector actors together, easing developing country access to cutting-edge technical assistance and giving donors more options for funding.

The initiative also supports the December 2015 call by the UN General Assembly to better use information and communication technology to achieve the SDGs.

 

Previous Kenya approves Economic Partnership Agreement with EU
Next Business News Headlines

You might also like

Sports 0 Comments

Sports Headlines January 4 2017

Pochettino wants fans to rally behind Spurs Mauricio Pochettino believes Tottenham’s “unbelievable” fans can help spur his side on to victory against Chelsea. Spurs welcome Antonio Conte’s side to White

Latest 0 Comments

Sports headlines June 13 2017

  Aston Villa interested in John Terry Aston Villa are interested in signing John Terry as the former Chelsea man is considering a number of offers. Villa hope to persuade

Latest 0 Comments

Business highlights July 28 2017 – Plastic bags ban is still on, CS Wakhungu says

Centum set to buy 5.53% stake in  fashion retailer Deacons Centum Investments is set to buy a 5.53% stake in Deacons following an agreement to purchase Aureos East Africa Fund’s entire stake

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply