• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
Home NEWS World

Meaningful servicification key element in modern industrialization, UNCTAD chief

XINHUA NEWS AGENCY | PML Daily Content Partner by XINHUA NEWS AGENCY | PML Daily Content Partner
September 6, 2020
in World
0 0
1
SHARES
247
VIEWS
FacebookWhatsAppTwitter
simbatelecom simbatelecom simbatelecom
Mukhisa Kituyi, Secretary-General of UN Conference on Trade and Development (PHOTO/File).

GENEVA — Trade in services must underpin most national and regional development strategies, as meaningful servicification needs to be a key element in countries’ strategies for modern industrialization, Mukhisa Kituyi, Secretary-General of UN Conference on Trade and Development (UNCTAD) said Friday.

In his online speech at the opening of the 2020 China International Fair for Trade in Services in Beijing on Friday, the UNCTAD chief noted that services represent two thirds of the global economy, more than half of the total employment and a quarter of world trade. He estimated that services are also responsible for two thirds of the total productivity growth in developing countries.

“A services-led structural transformation is today a viable development strategy for many developing countries, and efforts at addressing challenges posed by the COVID-19 pandemic can be a catalyst at setting this transformation in motion,” he said.

Taking ICT (Information and Communications Technology) services and digitization as an example, Kituyi held that services-backed digitization can be instrumental to improving supply and export capacity and therefore enhancing economic resilience and promoting post-pandemic recovery. COVID-19 has, for instance, brought to the world’s tourism sector a loss of at least 1.2 trillion U.S. dollars and 1.5 percent of the global GDP, Kituyi said.

According to UNCTAD estimates, with a 12-month break in international tourism, global losses would amount to 3.3 trillion dollars or 4.2 percent of global GDP.

“But these services would benefit from stronger ICT services and the digitization they enable,” he said.

“China knows better than most countries the critical role the new generation of information technologies can play in epidemic control and prevention, and continuation of industrial production.”

The 2020 China International Fair for Trade in Services opened in Beijing on Friday.

It is the first major international economic and trade event held both online and offline by China since the COVID-19 outbreak. Themed “Global Services, Shared Prosperity,” the six-day fair has a comprehensive exhibition area and eight special exhibition areas.

A total of 18,000 enterprises and institutions from 148 countries and regions and about 100,000 people have registered for it.

Comments

Tags: Mukhisa KituyiSecretary-General of UN Conference on Trade and Developmenttop

Related Posts

One of Uganda's best female artists Spice Diana (PHOTO/Courtesy).
Society

I can’t look into your face if I have broken up with you! Spice Diana on why she would never date a fellow musician

March 9, 2021
81
Socialite Bad Black (PHOTO/File).
Society

Bad Black shares her view on feminism

March 8, 2021
75
UBF president, Moses Muhangi (right) handing Juma Miiro his one Million shillings at Kati-Kati restaurant
SPORT

Boxing: International federation donates Ugx18 billion to Uganda

March 8, 2021
43
BUSINESS

Plum Café and Restaurant, Naalya Opens with a 20% discount on all meals

March 8, 2021
90
President Museveni speaking at Mulago Hospital as he launched clinical trials for a home-grown Covid-19 treatment drug (PHOTO/Courtesy).
NEWS

Museveni to female activists: First teach women how to defeat poverty

March 8, 2021
83
Nabbi Omukazi (PHOTO/File).
NEWS

Nabbi Omukazi – Maggie Kayima finally released from Kitalya prison

March 8, 2021
146

Advertisement






 

 

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2021 PMLDAILY.COM.

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2021 PMLDAILY.COM.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In