Indian Council for Research on International Economic Relations 425 - TOWARDS GREATER REGULATORY

With high economic growth, the APAC are the United States of America (USA), the United region has become the largest e-commerce market Kingdom (UK) and Japan, APAC countries such as in the world. [...] The coronavirus (COVID-19) pandemic further In this context, the Indian Council for Research on facilitated the growth of e-commerce in this region International Economic Relations (ICRIER) and the with consumers and micro, small and medium United Nations Economic and Social Commission enterprises (MSMEs) increasingly using e-commerce for Asia and the Pacific: Sub-regional Office for platforms. [...] The objective of this paper is to (a) examine the growth of e-commerce in the Asia-Pacific region, (b) identify the growth drivers and the contribution of the sector to MSMEs, women entrepreneurs and allied sectors such as express delivery services, (c) examine the policy landscape and how it is evolving in APAC countries with a focus on learning from each other’s best practices (d) identify polic. [...] Level of obligation on different aspects of bilateral agreements such as the adoption of e-commerce differ across agreements: Despite the United Nations Commission on International the rise in bilateral and regional trade agreements, Trade Law (UNCITRAL) Model Law on E-commerce the obligations related to e-commerce differ (MLEC), e-authentication and e-signatures, online in coverage and stringency. [...] • APAC nations recognise the potential of AI in the socio-economic growth of a country and 3.2 Data Privacy are investing in research and development in • While domestic policies for data protection the sector to benefit from higher job creation, and privacy are in place in many APAC higher productivity, sustainable growth, etc., countries, cross-border data sharing policies of the economy.