Davos 2019: World Economic Forum wrap – 9news.com.au

In Europe’s highest city, Davos, Switzerland, the temperatures are well below freezing.

And those at the World Economic Forum stayed tucked away inside for a meeting to open up a booming trade as Australia chaired the push to develop free trade rules for the online world.

“Today is a significant day for the world trade organisation, businesses and consumers,” Simon Birmingham, Australia’s Federal Trade, Tourism and Investment Minister told the gathering.

At the World Economic Forum in Davos Australia chaired the push to develop free trade rules for the online world.At the World Economic Forum in Davos Australia chaired the push to develop free trade rules for the online world. (9news)

“It’s important to consumers as well to make sure that all of those people who buy goods online can have confidence that they’ll be delivered in a timely cost effective way without trade barriers being out in place by other nations,” the MP told told 9News.

This year’s theme at the summit was Globalisation 4.0, with the digital economy and climate change looming large.

“I think people are beginning to realise that there’s no business on a dead planet,” Christiana Figueres, former Executive Secretary of the UNFCCC and Founder of Global Optimism told reporters.

The digital economy and climate change dominated this year's summit, which had the theme of Globalisation 4.0The digital economy and climate change dominated this year’s summit, which had the theme of Globalisation 4.0 (9news)

But in World Trade terms, Trump stayed away and Brexit is causing both business and political leaders heartache. A ‘No Deal’ with Britain crashing out of the EU looking ever more likely as the March 29 deadline looms.

“Nobody should be any doubt that it would be a very bad outcome,” Philip Hammond, Chancellor of the Exchequer, said at the summit.

The summit has now finished, the suits have gone and skiers have returned to the slopes as alpine pursuits trump economic ones for another year at least.

The suits have gone and skiers have returned to the slopes in the Swiss townThe suits have gone and skiers have returned to the slopes in the Swiss town (9news)

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