Dozens of countries are in talks to regulate cross-border e-commerce

Background: Most existing trade agreements were written in the pre-digital era to cover traditional flows of goods that enter countries in large containers through ports of entry. But e-commerce results in a flood of small parcels that is overwhelming customs inspectors.

By the numbers: The McKinsey Global Institute projects that the global market for cross-border, business-to-consumer e-commerce will top $1 trillion by next year.

• Cross-border business-to-business e-commerce is thought to be 4–5 times larger.
• International package delivery volumes have tripled since 2000.
• E-commerce and new technologies could boost trade in manufactured goods by 6–10% in the next decade.

Read More.. Source Axios