CAREC Institute Researcher Contributed to Xinjiang Digital Trade Workshop

As digital trade emerges as a new trend in international trade and a key driver of global economic growth, China has positioned it as a crucial engine for advancing its status as a major trading nation. To further develop the expertise of relevant practitioners and promote the development of digital trade, the Department of Commerce of Xinjiang Uygur Autonomous Region successfully convened a digital trade workshop in Urumqi on 27-29 August 2024.

Mr. Shiliang Lu, research specialist at the CAREC Institute, was invited to deliver a speech titled “The Development of the Digital Economy in Central Asia and Cooperation Opportunities.” Lu pointed out that while digital infrastructure and internet access are top performing indicators of digital development in the region, significant disparities exist in areas such as digital payments and e-commerce. He further highlighted that low-income countries exhibited much less internet coverage compared to high-income countries, revealing the persistent global digital divide. Lu emphasized the financial challenges that Central Asian countries face in digitalizing their economies, suggesting that attracting foreign investment could help facilitate digital transformation, but at the same time also bringing in technology transfer and job opportunities. He noted that while Central Asian countries have developed digital strategies, their effective implementation would require substantial financial support.

The workshop attracted over 100 participants, including government officials and entrepreneurs. The event showcased the academic influence of the CAREC Institute in the field of digital transformation.