Many issues are matters of technological evolution that will occur regardless of what role governments play - or try to play. But when it comes to matters of promoting trade and commerce over the Internet, there are roles that governments can and must play. The challenge and opportunity we face is to establish these rules in a way that promotes, rather than disrupts, the global nature of this electronic marketplace. The body of rules governing the paper-based marketplace evolved before global trade became such a driving economic force. Each nation set its domestic rules, and over the past half century, nations have endeavoured to coordinate those rules and remove barriers to international trade.
Electronic commerce begins with a global marketplace.
If we do not move quickly to establish international cooperation, the flow of commerce may be constrained by domestic regulations that have not taken the complexities of this technology into account. We meet here to take stock, reach some consensus on the areas of mutual interest, and begin to work for a global market. I believe we can do so if we focus on the four key elements that underlie our discussions over the next four days. The first is to build trust in the digital economy. Here in North America, for example, less than one in five Internet users is willing to make purchases on-line.