Singapore and the European Free Trade Association start negotiations on a Digital Economy Agreement

Singapore and the European Free Trade Association (EFTA) have started negotiations on an EFTA-Singapore Digital Economy Agreement (DEA).

This was announced on February 16 by videoconference by the Minister in charge of Trade Relations, S. Iswaran, the Minister of Foreign Affairs, Education and Sport of Liechtenstein and President of the EFTA Council, Dominique Hasler, the Swiss Federal Councilor and Chief of the Federal Department of Economic Affairs, Education and Research, Guy Parmelin, the Ambassador and Permanent Representative of Iceland in Geneva, Einar Gunnarsson, and the Ambassador and Permanent Representative of Norway in Geneva, Petter Ølberg.

The EFTA States and Singapore have also issued a joint statement on the start of the Digital Economy Agreement negotiations.

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EFTA and Singapore share strong trade and investment relations underpinned by the 2003 EFTA-Singapore Free Trade Agreement. The DEA will enable Singapore and EFTA to advance cooperation in the digital realm, including advancing end-to-end trade , enabling reliable data flows, and facilitating a reliable and secure digital environment.

The DEA will also build on and complement ongoing plurilateral efforts, including the negotiations on the WTO’s Joint Declaration Initiative on Electronic Commerce. WTO Joint Statement Initiative on Electronic Commerce.

EFTA and Singapore share strong trade and investment relations underpinned by the 2003 EFTA-Singapore Free Trade Agreement

Iswaran stated: “Singapore and the EFTA States are like-minded and digitally progressive partners. DEA will further strengthen our strong and growing bilateral economic relationship, enabling us to unlock new opportunities in the digital realm for our citizens and businesses. It will also establish frameworks to promote smoother cross-border digital trade, connectivity and data flows between EFTA and Singapore. I look forward to a continued and closer partnership with EFTA as we work to rapidly conclude the DEA negotiations.”

Collaborator at ReportAsia