Future of world trade is small businesses, e-commerce: Jack Ma

GENEVA - The Director General of the World Trade Organization Roberto Azevedo and Jack Ma, executive chairman of China's Alibaba Group both said Tuesday that technology should not be feared but rather harnessed to develop trade and society.

"We cannot stop technology. The only thing you can do is to embrace it," said Ma, who was one of the keynote speakers at the opening session of the 2018 WTO Public Forum. He said the future of world trade is small business and e-commerce.

"More and more trade will be happening through digital platforms. New ways of delivering products will come on stream. New kinds of services will be created," said Azevedo in opening remarks at the forum that each year brings public debate to the WTO here.

Azevedo described Ma as "surely one of the most remarkable business leaders and visionaries of our time. Jack has been named a Sustainable Development Goals advocate by the United Nations."

This year the four-day forum is titled Trade 2030 a look into the future.