The agreement seeks to promote interoperability between digital systems to encourage more seamless cross-border data flows as well as to develop an open and trustworthy digital environment for businesses.
Singapore and the European Union (EU) signed a digital trade agreement in February 2023 to allow consumers and businesses from Singapore and the EU to transact online more seamlessly. The EU-Singapore Digital Partnership (EUSDP) will see both jurisdictions collaborate on facilitating digital trade, electronic payments, digital identities, and 5G/6G communication networks, among others.
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, aimed at establishing digital collaboration between jurisdictions to maximize the economic benefits from the surge in online business…
