Singapore and the EU have signed a digital trade agreement, making it the fifth of its kind signed by the city-state.
The agreement promotes interoperability between digital systems to encourage more seamless cross-border data flows as well as develops an open and digital environment. Moreover, the agreement allows individuals and businesses from Singapore and the EU to transact online more seamlessly.
The EU-Singapore Digital Partnership (EUSDP) facilitates digital trade, electronic payments, digital identities, and 5G/6G communication networks.
The EUSDP is one of several digital economic agreements (DEAs) that Singapore has signed. These DEAs are the world’s first “digital only” trade agreements.
Singapore has currently a DEA also with New Zealand, Chile, the United Kingdom, and South Korea.
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