Nextrade developing IDB's Digital Strategy to enable trade through technology Latin America

The Covid-19 crisis has thrown Latin America and the Caribbean (LAC) economies into a tailspin. Expanding and facilitating international trade and investment is one way to accelerate LAC region’s economic recovery --and today LAC policymakers have a new tool to enable trade: disruptive technologies such as 5G connectivity, cloud computing, artificial intelligence (AI), blockchain, advanced robotics, additive manufacturing, and 3D printing.

In 2019, Nextrade Group was hired to develop the Inter-American Development Bank's strategy for helping the Bank's clients governments power trade through technology. The roadmap Nextrade has been developing in 2020 seeks to offer policymakers guidance in three areas:

  • How governments’ own trade- and investment-related agencies can use technologies to improve their performance;

  • How governments can realign their industrial and trade and investment policies to better enable firms to adopt technologies conducive to their competitiveness and trade; and

  • What public policies governments can adopt to facilitate broad-based adoption of technologies conducive to trade and investment in their economies.

More to come, including a strategy "Trading Smarter: Roadmap for Enabling Trade through Technology in Latin America and the Caribbean," in 2021.

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