Digital Economy Agreement

Singapore’s Deputy Prime Minister Gan Kim Yong advocates for strengthened ASEAN-EU collaboration, particularly through a digital economic agreement, to navigate global trade tensions. Speaking at the Singapore Fintech Festival, Gan highlighted the potential for enhanced ASEAN-EU ties, envisioning a phased approach to establishing foundational rules for digital collaboration. He also emphasized the need for WTO reform to adapt to contemporary trade challenges and Singapore’s commitment to a multilateral, rules-based trading system. The goal is to support the growing Southeast Asian digital economy, projected to exceed $300 billion in 2025.