parlamentario.com | Digital technology exports in the region could reach US$140 billion by 2030

parlamentario.com | Digital technology exports in the region could reach US$140 billion by 2030

This article was originally published in parlamentario.com on 04 November 2022. 

According to a study by the Access Partnership, the export opportunity of six Latin American economies: Argentina, Brazil, Chile, Colombia, Mexico and Uruguay amounts to that number.

In the framework of an event organised by the Business Council for International Understanding and Google, Alpha Beta, part of the Access Partnership, launched its latest report “The Digital Sprinters: Boosting exports through digital technologies”, which points out the potential of the digital technology export market in Latin America.

The meeting brought together more than 50 representatives from the private sector, government, international and regional organisations, technology industry leaders and academics, and was held in the context of the autumn meetings of the World Bank and the International Monetary Fund.

Commissioned by Google, the study measures the export opportunity of six Latin American economies: Argentina, Brazil, Chile, Colombia, Mexico and Uruguay. The study reveals that digital exports contribute about US$34 billion to these economies; however, with more effective policy instruments, digital exports can trigger up to US$140 billion in economic activity by 2030.

During his remarks, Access Partnership’s Director of Policy and North America Office Leader Christopher Martin said that “digital technologies drive exports through three channels: creating new digital solutions, reducing the costs of accessing foreign markets, and supporting the efficiency of export processes”.

“We see a critical role for governments to lead from the top and help ensure direction within their economies, as well as coordinate their agencies towards implementing more digital solutions,” Martin added.

The private sector supports countries in unlocking the economic benefits of digital technologies. For example, Google’s advertising platforms, such as Google Ads and AdSense, facilitate companies’ internationalisation and marketing efforts. In addition, platforms such as Google Market Finder help companies strategically enter foreign markets by identifying countries with the most significant export potential for different types of products and services.

The report outlines four key recommendations which, at the regional level, could help policymakers foster an export-driven enabling environment: 1) build future-proof digital infrastructure, 2) close the export-related digital skills gap, 3) promote digital security and build trust between businesses and consumers, and 4) implement trade facilitation measures and policies.

Speakers included Karan Bhatia, GlobalLeader and Vice President of Government Affairs and Public Policy at Google; Christopher Martin, Policy Director and North American Office Leader at Access Partnership; H.E. Andrés Durán Hareau, Ambassador of Uruguay to the United States; Anabel González, Deputy Director General of the World Trade Organization; Carola Moreno, Head of Finance and International Affairs at the Ministry of Finance of Chile; Fabrizio Opertti, Integration and Trade Sector Manager at the Inter-American Development Bank (IDB); and Edgar Braham Herrera, Economic Counsellor at the Embassy of Mexico in the United States.

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