Introduction - The Uruguay Round and the Advent of the Internet

Summary

The emergence of the Internet and the phenomenon of the digitisation of traditional goods and services has had a major impact on global trade. In the same way as digital goods and services have seeped into every aspect of our daily lives, digitisation has permeated international trade, heavily impacting cross-border trade in goods and services. Goods need no longer be bought in brick-and-mortar stores but can now be ordered online with minimal effort. Goods produced on the other side of the world are only one click away and consumers are spoiled with endless choice in virtual marketplaces. The rise of electronic commerce has caused the creation of so-called multi-sided platforms, whose business model is built on enabling transactions between two or more distinct types of customers (e.g. sellers and buyers). Some of these platforms have gained immense market shares and are starting to dominate the economic landscape in various sectors.