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ASEAN Countries Sign World's First Region-Wide Digital Economy Pact, Laying Foundation for Collaboration

The pact sets common rules for digital trade, payments and data flows, with priority projects aimed at cutting paperwork and costs for businesses.

Singapore Deputy Prime Minister Gan Kim Yong said the pact took several years to negotiate and reflects the diverse state of readiness among member countries.

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With the signing of DEFA, ASEAN countries aim to strengthen digital economic connectivity, facilitate cross-border transactions, and expand benefits for businesses and consumers. The Philippines promotes the digital economy, Malaysia emphasizes ASEAN's central role. Vietnam's digital economy is growing fastest in Southeast Asia, projected to reach US$49 billion. Malaysia's digital economy could grow to match Vietnam's.

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Channel News Asia broke the news in Singapore, Singapore on Saturday, November 14, 2026.
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