10th ASEAN Economic Community Dialogue Unpacks World’s First Regionwide Framework Agreement on Digital Economy

JAKARTA, 30 November 2023 – The 10^th ASEAN Economic Community (AEC) Dialogue took place today, serving as a platform to socialise the ASEAN Digital Economy Framework Agreement (DEFA), the world’s first regionwide legally binding instrument on digital economy.

ASEAN Secretariat hosted the dialogue, with the support of the Australian Government through the Australia for ASEAN Futures – Economic and Connectivity (Aus4ASEAN Futures (ECON)) and Tech for Good Institute as the knowledge partners. Over 550 participants consisting of corporate leaders from start-ups, financial institutions, businesses, non-profit organisations and government agencies attended the Dialogue both physically and virtually.

In his remarks, Deputy Secretary-General of ASEAN for Economic Community Satvinder Singh highlighted that an advanced and forward-looking DEFA will reinforce the region’s dynamism and competitiveness and is expected to add up to US$ 2 trillion to ASEAN’s digital economy by 2030. Singh also highlighted the need for ASEAN DEFA to be future-proof and up-to-date with the rapid developments in the digital economy.  He further stressed on the importance of maintaining a value-focused and inclusive dialogue that engages public and private stakeholders throughout the negotiation process, and to consider capability gaps, unaddressed technical barriers, and protracted timelines that may hinder the ASEAN DEFA to unleash its full potential.

Australian Ambassador to ASEAN, Will Nankervis said that ASEAN can play a significant role in shaping how digital technology is developed, used, and governed. He highlighted how Australia had supported a study on the DEFA which suggested nine core areas to be included in the agreement – laying the foundation for DEFA negotiations.  He also outlined Australia’s meaningful, substantive, and tangible support for ASEAN’s digital economy ambitions, including through the Australia for ASEAN (Aus4ASEAN) Futures Initiative, ASEAN-Australia Digital Trade Standards Initiative and Regional Trade for Development (RT4D) Facility.

The Founding Executive Director of Tech for Good Institute, Dr. Ming Tan highlighted that DEFA presents a unique opportunity to craft a digital trajectory for ASEAN that is regionally oriented, multicultural, and locally-fit-for-purpose to enable an inclusive, innovative, interoperable and investable Southeast Asia.

The event also featured a panel discussion consisting of officials from the DEFA Negotiating Committee, United Nations Commission on International Trade Law, Ministry of Trade and Industry of Singapore, Coordinating Ministry for Economic Affairs, Republic of Indonesia, ISEAS-Yusof Ishak Institute, Future of Privacy Forum, and private sector representatives from major tech companies in the region. Speakers shared insights on how DEFA may be able to navigate key policy challenges to foster harmonisation, especially given the diversity of the region.

Representatives from the business community expressed their aspirations for DEFA to be impactful by promoting a trusted free flow of data and improving the ease of doing business in digital economy. In addition, they expressed keen interest to participate in stakeholder consultations throughout the DEFA negotiations in the spirit of transparency and openness.

Source : ASEAN