Singapore, Australia begin talks on digital economy pact

Singapore and Australia have recently started negotiations on a digital economy pact, announced Singaporean Minister for Trade and Industry Chan Chun Sing and Australian Minister for Trade, Tourism and Investment Simon Birmingham on October 14.

Tuesday, October 15, 2019 14:14

Singapore, Australia begin talks on digital economy pact ảnh 1

Singaporean Minister for Trade and Industry Chan Chun Sing (L) and Australian Minister for Trade, Tourism and Investment Simon Birmingham (Photo: www.straitstimes.com)

Singapore (VNA) – Singapore andAustralia have recently started negotiations on a digital economy pact,announced Singaporean Minister for Trade and Industry Chan Chun Sing andAustralian Minister for Trade, Tourism and Investment Simon Birmingham onOctober 14.

The officials made the announcement on thelaunch of talks on the sidelines of the latest ministerial meeting for theRegional Comprehensive Economic Partnership trade agreement in Bangkok.

Speaking at the event, Chan Chun Singunderlined that the digital economy agreement will not only drive greaterconnectivity and closer cooperation between the two traditional partners, butalso open a huge market with new opportunities for the countries’ entrepreneursand investors.

For his part, Birmingham affirmed that thedeal will expand the scope of bilateral cooperation and increase the efficiencyof doing business.

The Singapore - Australia Digital EconomyAgreement was first announced this June by Singaporean Prime Minister Lee HsienLoong and his Australian counterpart Scott Morrison.

In addition, Singapore recently launchedtalks with Chile and New Zealand on the Digital Economy Partnership Agreement(DEPA) to bolster trilateral cooperation in electronic invoicing andidentification, and artificial intelligence, among others.

The digital economy in Southeast Asiacurrently values at about 100 billion USD and is projected to triple by 2025./.

VNA

#Singapore-Australia relations #digital economy #Regional Comprehensive Economic Partnership #trade agreement #Singapore - Australia Digital Economy Agreement #vietnamplus #Vietnam News Agency Australia Singapore

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