Tuesday, June 6, 2023

Singapore and EU Sign Digital Trade Agreement

Singapore and the European Union (EU) have signed a digital trade agreement to enable consumers and businesses from both places to transact easily online. The EU-Singapore Digital Partnership (EUSDP) will promote interoperability between digital systems to develop an open and trustworthy digital environment for businesses. The agreement seeks the development of key digital infrastructure, 5G and 6G technologies, research and development, cooperation in cybersecurity, and collaboration to identify opportunities on artificial intelligence ethics and governance, supply chain resilience, and digital transformation of SMEs. Both jurisdictions aim to foster open, fair, and competitive digital markets to maximise the economic benefits from the surge in online business activity driven by the pandemic. Singapore and the EU are major trading partners, and the EUSDP is the latest of several digital economic agreements (DEAs) Singapore has signed with other countries.

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