{
  "id": 10691559,
  "title": "ASEAN's digital framework points to a new model for regional trade",
  "url": "https://urgent.news/2026/09/29/aseans-digital-framework-points-to-a-new-model-for-regional-trade",
  "topic": "world",
  "section": "World",
  "published": "2026-09-29T12:51:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/news/brics/2026-09-29-aseans-digital-framework-points-to-a-new-model-for-regional-trade/"
  },
  "original_language": "en",
  "account": "The ASEAN Digital Economy Framework Agreement (DEFA) represents a new model for regional trade, as emerging economies rethink traditional global trade systems. Rather than relying on Western clearing houses and reserve currencies, ASEAN and the BRICS+ bloc are constructing payment systems, data rules, and currency arrangements based on their own terms. This is most clearly demonstrated in DEFA, which may double the region's digital economy from approximately US$1 trillion to US$2 trillion. Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, expects Indonesia's digital economy to reach US$600 billion. The agreement is expected to be signed at the 49th ASEAN Summit in November 2026, with ratification completed within 180 days of signing. DEFA covers various aspects of digital trade, including cross-border e-commerce, cybersecurity, digital identity, payments interoperability, cross-border data flows, artificial intelligence, financial technology, and source code protection. A notable initiative is Indonesia's QR payment standard, QRIS, which bypasses foreign intermediaries and has 60.77 million users domestically as of February 2026. DEFA's success hinges on striking a balance between strategic autonomy and the diverse digital maturity levels of ASEAN's ten members. While the agreement presents challenges, its regional focus and member-led approach position it as a potential template for other Global South blocs, such as BRICS+.",
  "summary": "ASEAN's DEFA and QRIS show how emerging economies are building sovereign payment and data systems to reshape regional digital trade.",
  "key_points": [
    "ASEAN Digital Economy Framework Agreement (DEFA) aims to reshape regional trade.",
    "DEFA could double ASEAN's digital economy to US$2 trillion.",
    "Indonesia's QR payment standard, QRIS, has 60.77 million domestic users."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}