Market openness

Digital technologies are transforming the environment in which firms compete, trade and invest. Market openness enables digitalisation to flourish by creating a business-friendly environment that allows foreign and domestic firms to compete on an equal footing and without excessive restrictions or burdensome conditions. Open trade and investment regimes can create new avenues to rapidly upgrade technologies and skills, and increase specialisation, as frontier technologies, applications and processes diffuse through open markets. Market openness also fosters competition and helps firms, domestic and foreign, reap the benefits of trade and investment, contributing to economic growth.