BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European Union and Singapore have taken a significant step forward in their bilateral trade relations with the signing of a Digital Trade Agreement, or DTA.
Signed by European Commissioner for Trade and Economic Security Maroš Šefcovic and Singapore Minister-in-charge of Trade Relations Grace Fu Hai Yien, this Agreement marks a major milestone in deepening EU-Singapore cooperation in the digital domain.
The DTA will enhance consumer protection, facilitate trusted cross-border data flows and provide legal certainty for businesses that want to engage in cross-border digital trade, as well as addressing unjustified barriers to digital trade. This includes the protection of privacy and personal data, customs duties on electronic transmissions, electronic contracts, electronic authentication and trust services, online consumer trust, unsolicited direct marketing communications, open government data, and regulatory cooperation on digital trade.
The Agreement will come into force after ratification by the European Parliament and the Singapore parliament.
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