USMACCA (Reuters: MOSCOW) – U.S. retailers and wholesalers on Wednesday agreed to sell $1.6 billion worth of digital goods to the online marketplace Amazon, which has made it easier for consumers to buy and sell goods online.
The agreement marks the first major move by U.M. retailers to open up to the digital economy and the first time the country has agreed to an arrangement with a foreign buyer of digital products.
The deal comes after the U.N. General Assembly voted in March to ban the sale of digital currency, and more than two dozen countries have enacted similar laws.
Amazon and other digital retailers are vying for a greater share of U.A.E. e-retailers’ business.
They argue that online commerce is an opportunity for consumers, who tend to be more tech-savvy than traditional retailers.
Amazon said the agreement would increase its sales volume of $1 billion per year in 2021, compared with the current $1 million per year.
Amazon said it was still finalizing the terms of the agreement.
Amazon, which also owns a leading U.K. bookseller, has been among the world’s biggest buyers of digital content, with more than 100 million unique monthly users.
The move to sell digital goods will have implications for U.
Ankara, which relies heavily on U.B.C.S., a government-owned Internet service provider.
The U.P. has said the deal could increase Turkish revenues.
Last month, Turkey, a member of the European Union, signed an agreement with Amazon to buy some digital content.
The U.s. and Turkey have been locked in an arms race for the next two years over access to the internet, and Turkey has sought to block the U-B.
The Turkish government has blocked the sale in Europe of the popular Baidu search engine, which allows people to search on topics such as weather, music and news.
Baidu and U.R.S.-owned Amazon have also been battling over control of their own online platforms.