SINGAPORE, May 31 — ASEAN members have concluded negotiations on the Digital Economy Framework Agreement (DEFA), paving the way for the landmark pact to be signed at the 47th ASEAN Summit in November, Singapore’s Trade and Industry Ministry (MTI) said today.
In a statement, MTI said the negotiations were concluded at the Second Meeting of the 57th ASEAN Senior Economic Officials Meeting (SEOM), held in Manila, the Philippines, from Wednesday to Friday.
It said the DEFA addresses the complexities of the digital age through streamlined, robust and shared digital rules.
MTI said the framework also breaks new ground by addressing emerging areas such as AI, fintech and source code protection.
“Building on ASEAN’s existing digital economy commitments, the DEFA establishes common rules and frameworks that facilitate digital trade, simplifies digital trade procedures, supports trusted cross-border data flows, enhances digital payments and electronic transactions, strengthens online consumer protection, and promotes greater digital interoperability across the region,” the statement read.
“We thank Thailand as chair of the DEFA Negotiating Committee for its leadership, and all member states, the ASEAN Secretariat, and business stakeholders for their contributions,” it added.
