Singapore and the EU sign digital trade agreement

The EUSDTA aims to enhance digital connectivity and trade.

Singapore has inked a digital trade agreement with the European Union.

The European Union-Singapore Digital Trade Agreement (EUSDTA) aims to enhance digital connectivity and trade by placing rules for digital trade and cross-border data flows.

The parties committed to allowing businesses to transfer data while maintaining a legal framework to protect individuals’ data and to support trusted cross-border data flows for electronic commerce.

The agreement will also enhance public access to government data in digital formats to encourage the use of publicly available government data, especially for small and medium-sized enterprises (SMEs).

Further, both will adopt international standards, promote interoperability, and encourage innovation and competition in payment services.