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"Efficiency and time play a key role in the cross-border e-commerce industry. Let's say you are ranked as the No. 1 seller today in the market, but when you are out of stock for three days, then your ranking might fall below 50. When that happens, it's very difficult for your business to recover," Wei said.

"Even though Africa has abundant natural resources, including crude oil and minerals and agricultural products, we have our own problems," said Caroline Kariuki, CEO of the Kenya Private Sector Alliance. "The export of African products-about 70 percent of them-are raw materials and cannot make much profit.

"Exports to China are very important," Barcena told Xinhua in a videoconference call from Santiago, Chile, where the agency is based. The call was held to present "The Effects of COVID-19 on International Trade and Logistics" report.

"Digitization is further realizing the potential for the cross-border supply of services. E-commerce related services trade has now taken up an increasing share of the world trade in services," she noted.

"Domestic air travel sounds great when you buy your ticket, but it really isn't. The 360c represents what could be a whole new take on the industry," said Marten Levenstam, senior vice-president of corporate strategy at Volvo Cars.