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.
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7 Articles
Asean states sign Digital Economy Framework Agreement, which kicks in from early 2027
Priority projects under the pact can include digital payment systems, digital identities for businesses and electronic trade documentation Read more at The Business Times.
ASEAN ministers sign landmark region-wide digital economy agreement
Trade, investment, and economic leaders of the Association of Southeast Asian Nations (ASEAN) on Saturday signed a landmark pact establishing a region-wide framework for cross-border digital trade and e-commerce, the first agreement of its kind in the world.
ASEAN countries sign world's first region-wide digital economy pact, laying foundation for collaboration
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.
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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