The Imcomm Media Development Authority (IMDA) is leading Singapore`s digital transformation with infocomm media. For this project, IMDA will develop a dynamic digital economy and a cohesive digital society, powered by an extraordinary infocomm Media (ICM) ecosystem – through talent development, business capacity building and infrastructure improvements at ICM Insingapurs. IMDA also regulates the telecommunications and media sectors to protect the interests of consumers while promoting a business-friendly environment, and improves Singapore`s data protection system by the Commission for the Protection of Personal Data. How does this fit with other digital works? This agreement is intended to complement the WTO negotiations on e-commerce and build on the work of the digital economy under way through APEC (external link), OECD (external link) and other international for a. The CPTPP was the first agreement to attempt to define a comprehensive set of rules for regional digital trade. The WTO e-commerce negotiations are also trying to define a regulatory framework for digital trade at the international level. Negotiations with Singapore and Chile aim to see what could be possible through a „scouting agreement“ in this area and to try to define the agenda of disciplines and commitments in digital trade. Who`s involved? New Zealand, Chile and Singapore – as small trade-dependent countries, we have traditionally had a lot in common in terms of strategic direction on trade policy issues. New Zealand, Chile and Singapore were three of the four countries that launched and developed the P4 Agreement, which laid the groundwork for the TPP and then the CPTPP agreements. The first discussions on the agreement began in late 2018, on the sidelines of the APEC launch in Santiago in December. The start of negotiations was officially announced in May 2019 at the ministerial meeting of trade ministers in Via del Mar. Businesses are encouraged to participate in Singapore`s digitization initiatives, such as the Go Digital SME Program and the national E-Voicing Network, which are aimed at DEPA to reach more international markets and reap the benefits of participation in the digital economy.

DEPA is Singapore`s first digital economy agreement. The electronic signature highlights the possibilities of digital connectivity to enable business continuity during the ongoing COVID 19 pandemic. The agreement promotes cooperation on key emerging issues in the digital economy and promotes interoperability between the systems of different countries. Singaporean companies can look forward to benefits such as improved efficiency, cost reduction and confidence when operating and acting digitally with their foreign partners in both countries. Module 3 promises that digital products will not face tariffs in DEPA countries (3.2), as companies have fewer discrimination problems as national treatment is assured (3.3). These are important promises for businesses because they increase security and reduce risk. Existing Agreements It will likely build on existing trade agreements concluded by New Zealand, Chile and Singapore in the e-commerce chapters of free trade agreements such as the CPTPP. Existing obligations include tariff rules for electronic transactions, electronic signatures, „electronic spam,“ as well as online consumer protection and personal data protection.

For more information on CPTP`s commitments in this area, click here. It is particularly gratifying to note that electronic payments (2.7) are directly included in the DEPA. Businesses cannot engage in cross-border trade in the digital economy if they cannot be paid efficiently and cheaply.

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