ASEAN to roll out upgraded trade pact ahead of schedule
This pact seeks to make it easier for businesses and consumers to transact across Southeast Asia, covering areas such as e-commerce, digital payments, cross-border data flows and cyber security.
ASEAN is set to introduce an upgraded regional trade pact ahead of its original schedule, as the regional grouping aims to facilitate smoother cross-border business activities. The ASEAN Trade in Goods Agreement (ATIGA) will be implemented by the end of 2026, a year earlier than initially planned for June 1, 2027. Singapore's Deputy Prime Minister Gan Kim Yong revealed the decision in a Facebook post, stating that the accelerated rollout would ease the movement of goods and enable businesses to access regional markets more efficiently.
The enhanced ATIGA will address issues such as customs procedures, supply chains, and other trade regulations. During the first day of the ASEAN Economic Ministers’ Meeting and Related Meetings in Manila, the economic ministers also began discussions on reviewing the ASEAN Trade in Services Agreement, aiming to maintain the relevance of their rules on services trade amidst evolving economic conditions.
Furthermore, the ministers addressed the implementation of the ASEAN Digital Economy Framework Agreement, which will be signed during ASEAN's November meeting in Manila. The pact focuses on enhancing e-commerce, digital payments, cross-border data flows, and cyber security. Gan emphasized the need to transform ASEAN's digital ambitions into tangible benefits for businesses and consumers across the region.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
