Singapore signs digital economy partnership agreement with Chile, New Zealand

SINGAPORE on Friday signed its first digital economy partnership agreement (DEPA), which will see the Republic cooperating with Chile and New Zealand on key emerging issues in the digital economy.

The agreement also aims to promote interoperability between the systems of different countries.

Under the newly signed DEPA, Singapore businesses can expect improved efficiency, reduced cost, and increased trust when conducting business and trading digitally with overseas partners in Chile and New Zealand.

The agreement was signed by Singapore's Minister for Trade and Industry Chan Chun Sing, New Zealand's Minister for Trade and Export Growth David Parker, and Chile's Minister of Foreign Affairs Teodoro Ribera Neumann via video conference.

Mr Chan said that the Covid-19 pandemic had greatly accelerated the pace of digital transformation globally, making the DEPA "even more critical in helping businesses transact and trade seamlessly".

Last month, he said Singapore would help companies and workers prepare to tackle shifts in global supply chains arising from the pandemic by boosting connectivity to the region through creating a DEPA network, among other measures.

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The three countries have already begun embarking on joint projects to operationalise key aspects of the agreement.

For example, Singapore is working with New Zealand on an international connectivity system that will include the exchange of e-certificates for animal products such as meat and meat products with the country.