DEPA International Centre
A global digital connectivity link-hub providing ecosystem for digital and market access, technology innovation and emerging digital opportunities among countries such as Chile, Singapore, New Zealand, Australia and South Korea or emerging countries including but not limited to China, ASEAN and Eastern European countries embracing digitalisation and transformation in their cross border trades.
The Digital Economy Partnership Agreement (DEPA)
Digital Economy Partnership Agreement (DEPA) is a ground-breaking and innovative initiative to conclude a digital-only trade agreement, which aims to establish digital trade rules and digital economy collaborations.
In January 2021，DEPA came into effect. DEPA represents a new type of trade agreement to facilitate digital trade and creating a framework for the digital economy, was born out of the common interest of Chile, New Zealand and Singapore.
DEPA is not only revolutionary but forward looking as live and evolving agreements inclusive of the countries that would like to embrace digital economy and cross border digital collaboration. The agreement empowers SMEs by levelling the playing ground in cross border trade through technologies and digitalisation efforts.
DEPA will prepare the member countries to collaborate and cater for new development empowered by digital trade and technological innovation globally. DEPA looks into new emerging areas that may not have been covered by the traditional Free Trade Agreements, such as RCEP, CPTPP or the old TPP. DEPA enriches the content for all the Free Trade Agreement especially on the tremendous digital growth possibilities at post Covid stage.
DEPA provides member countries the opportunity to focus on emerging technologies for the benefits of human and economic progress, including but limited to Artificial Intelligence, trusted data flow, end-to-end digital trade, online security, digital identity. DEPA complements the Free Trade Agreements and provides borderless business opportunities.
Summary Points of DEPA
DEPA promotes digital collaboration and digital trade between member countries and the main areas of focus include:
Business and Trade Facilitation
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Paperless Trading
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Domestic Electronic Transactions Framework
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Logistics
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Electronic Invoicing
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Express Shipments
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Electronic Payments
Data Issues
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Personal Information Protection
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Cross-Border Transfer of Information by Electronic Means
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Location of Computing Facilities
Business and Consumer Trust
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Unsolicited Commercial Electronic Messages
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Online Consumer Protection
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Principles on Access to and Use of the Internet
Innovation and Digital Economy
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The importance of technological innovation, creativity, and the transfer and dissemination of technology
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Public Domain
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Data Innovation
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Open Government Data
Digital Inclusion
Dispute Resolution
Treatment of Digital Products and Related Issues
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Customs Duties
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Non-Discriminatory Treatment of Digital Products
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Information and Communication Technology Products that Use Cryptography
Wider Trust Environment
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Cybersecurity Cooperation
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Online Safety and Security
Emerging Trends and Technologies
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Financial Technology Cooperation
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Artificial Intelligence
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Government Procurement
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Cooperation on Competition Policy
Small and Medium Enterprises Cooperation
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Cooperation to enhance trade and investment opportunities for SMEs in the Digital Economy
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Information sharing
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Digital SME Dialogue
Digital Identities
Transparency
Full content of the agreement can be referred to: The Digital Economy Partnership Agreement (DEPA) (mti.gov.sg)
DEPA Gains Momentum
DEPA came in effect in 2010, born out of common interest from Singapore, Chile and New Zealand. DEPA signifies a new form of economic engagement at a time when many business activities have gone online. Singapore also signed a digital economy agreement (DEA) with Australia through Singapore-Australia Digital Economy Agreement (DADEA) and this has been in force since December 2020.
Singapore and United Kingdom signed the UK-Singapore Digital Economy Agreement (UKSDEA) in August 2022 and the agreement entered into force in June 2022. According to Singapore MTI’s announcement, “UKSDEA includes binding disciplines on cornerstones of the digital economy, such as data, as well as cooperative elements in a wide range of emerging and innovative areas such as Artificial Intelligence, fintech and regtech, digital identities and legal technology.”
South Korea requested to participate on September 13, 2021. China requested to participate on October 31, 2021 and its formal accession process began on August 18, 2022.
More countries are interested in DEPA, including Eastern Europe. With the emergence of AI and the speeding up of global digitalization, DEPA will definitely gain further momentum that will propel the growth of the digital economy. In 2023, ASEAN came to agreement to push forward digitalization under the Digital Economy Framework Agreement (DEFA).
The Milestone of DEPA
DEPA signed by Singapore, Chile and New Zealand on 12 June 2020. DEPA came into effect in Jan 2021.
Singapore - Australia Digital Economy Agreement signed on 6 Aug 2020. It enters into force on 8 Dec 2020.
The UK - Singapore Digital Economy Agreement was signed on 25 Feb 2022. The agreement entered into force on 14 June 2022.
In Nov 2022, Singapore and South Korea signed the Korea - Singapore Digital Partnership Agreement entered into force on 14 Jan 2023.
The study on the ASEAN Digital Economy Framework Agreement (DEPA) has been officially endorsed by the ASEAN Economic Ministers' (AEM) meeting on 19 August 2023.
DEPA’s Potential Coverage
Overview of Asia-Pacific Regional Trade Groups
Members of DEPA, RCEP and CPTPP
The Importance of DEPA
