Post-meeting:
Representatives of the Ministry of Trade and Industry (MTI) briefed EuroCham members on the format of existing Digital Economy Agreements (DEAs), signed between Singapore and other bilateral partners, and covered the elements likely to be included in one that is being proposed to the EU, in a closed-door meeting on Tuesday, 6th April.
Minister for Trade and Industry Chan Chun Sing had previously emphasised the strategic importance of such an agreement – signing a DEA would allow EU businesses to adopt Singapore as a base to expand its operations to the rest of Asia and ASEAN.
Singapore has so far concluded negotiations on two DEAs: Digital Economy Partnership Agreement (DEPA) – with Chile and New Zealand; and Singapore-Australia Digital Economy Agreement (SADEA) (which entered in force on 8 December 2020). Singapore has also launched negotiations with the Republic of Korea on a Korea-Singapore Digital Partnership Agreement (KSDPA).