e-commerce | digital economy
South Korea on Monday proposed a new pact on digital trade with Southeast Asia to cope with the changing global business environment and forge deeper economic ties with the region.
South Korean Trade Minister saying that South Korea would make an official announcement this month on its accession to the Digital Economy Partnership Agreement.
In the process of developing negotiations, there are new policies issued by the two countries, such as the Job Creation Law (Omnibus Law) which was passed by Indonesia in 2020, and the EU New Trade Policy which was issued in February 2021, and these policies seem to have an impact on the IEU CEPA discussion.
Eager to tap into a promising market while burnishing his administration’s credentials on free trade now that rejoining the Trans-Pacific Partnership looks as distant as ever, U.S. President Joe Biden appears ready to engage a new free trade zone in Africa.
There is minimal value added by DEPA, even as a pathfinder for e-commerce proponents in the WTO and APEC. For critics of the TPP and CPTPP’s one-sided rules, DEPA reflects a wasted opportunity.
As the US mulls a digital trade agreement to counter China, it faces a key problem: Many countries in Asia don’t want to join any deal seen as challenging Beijing, whose tech giants are deeply entrenched in the region.
White House officials are discussing proposals for a digital trade agreement covering Indo-Pacific economies as the administration seeks ways to check China’s influence in the region.
It is still too early to hail a digital economy agreement between Singapore and Vietnam. And it will be an even longer road before Vietnam can align itself with Singapore’s digital trade standards so that both nations can reap the full benefits of any potential agreement.
Singapore and the United Kingdom have negotiation talks on a digital economy agreement, UK-Singapore Digital Economy Agreement (UKSDEA).
Vietnam and Singapore have agreed to promote the early establishment of a joint technical working group on a digital partnership, towards a bilateral agreement on digital economy.
In this competition over standards, whichever nation first strikes a trilateral deal with technology leaders Japan and South Korea will secure a strategic chokepoint in the digital architecture of Asia.
The organizations said including a legal shield for tech companies in trade deals “reflects a broad effort by the big tech platforms to use ‘trade negotiations’ to limit domestic policy options.”
South Korea held a public hearing on its bid to join a global pact on the digital trade sector that covers a wider array of issues beyond conventional free trade agreements.
US Trade Representative has raised digital trade as an area of potential future cooperation in her coversations thus far with Asian partners.
Trade officials in the meeting of the US-Central Asia Trade and Investment Framework Agreement (TIFA) discussed the importance of digital trade for achieving broad-based inclusive economic growth and innovation.
Some WTO Members are negotiating rules on ecommerce. This is the draft consolidated text as of 14 December 2020.
Some WTO Members are negotiating rules on ecommerce. This is the draft stocktake text as of August 2020.
The RCEP will undoubtedly pave the way for China’s new digital yuan expansion throughout Asia.
A Latin American social media industry group that includes Facebook and Twitter said a reform in Mexico would violate an international trade pact, in swift backlash to a draft bill that seeks to regulate social media platforms.
Google’s Singapore subsidiary could use a controversial ISDS provision in the Singapore-Australia Free Trade Agreement to demand millions in compensation over proposed Australian regulation for payment of news content.