ASEAN countries sign region's first digital economy pact, laying foundation for collaboration
Singapore Deputy Prime Minister Gan Kim Yong said the pact reflects the diverse state of readiness among member countries, keeping rules flexible while laying a foundation for collaboration.
ASEAN nations have signed their inaugural region-wide, legally binding Digital Economy Framework Agreement (DEFA), with Singapore's Deputy Prime Minister Gan Kim Yong highlighting the pact's alignment with the varied readiness levels of member countries. Negotiated over several years, the agreement aims to foster a more integrated digital economy, facilitating cross-border data flows, digital trade, protection of source code, cybersecurity, and artificial intelligence.
While aiming for ambitious goals, the DEFA remains adaptable, allowing slower members to join in the future.
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