SINGAPORE – 16 FEB 2023
- Singapore and the European Free Trade Association (EFTA) have launched negotiations on an EFTA-Singapore Digital Economy Agreement (DEA).
- This was announced via a video conference today between Minister-in-charge of Trade Relations S Iswaran, Liechtenstein Minister for Foreign Affairs, Education and Sport & Chair of the EFTA Council Dominique Hasler, Switzerland Federal Councillor and Head of the Federal Department of Economic Affairs, Education and Research Guy Parmelin, Ambassador and Permanent Representative of Iceland in Geneva Einar Gunnarsson, and Ambassador and Permanent Representative of Norway to Geneva Petter Ølberg. The EFTA States and Singapore have also issued a joint statement on the launch of DEA negotiations, which is appended at Annex B (79.81KB).
EFTA and Singapore share strong trade and investment relations underpinned by the 2003 EFTA-Singapore Free Trade Agreement. The DEA will allow Singapore and EFTA to advance cooperation in the digital domain, including advancing end-to-end trade, enabling trusted data flows, and facilitating a trusted and secure digital environment. The DEA will also build on and complement ongoing plurilateral efforts including negotiations on the WTO Joint Statement Initiative on E-Commerce.
Mr Iswaran said, “Singapore and the EFTA States are like-minded and digitally progressive partners. The DEA will further strengthen our strong and growing bilateral economic relationship, enabling us to unlock new opportunities in the digital realm for our people and businesses. It will also establish frameworks to promote more seamless cross-border digital trade, connectivity, and data flows between the EFTA and Singapore. I look forward to continued and closer partnership with EFTA as we work to conclude expeditiously on the DEA negotiations expeditiously.”