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Singapore seeks digital trade agreements

Singaporean Minister of Communications and Information S. Iswaran has said together with the development of new sectors and the strong shift towards digital economy, his country needs to fine-tune trade policies, including embarking on digital trade agreements.
Singapore seeks digital trade agreements ảnh 1A corner of Singapore (Photo: VNA)

Singapore (VNA) – SingaporeanMinister of Communications and Information S. Iswaran has said together withthe development of new sectors and the strong shift towards digital economy,his country needs to fine-tune trade policies, including embarking on digitaltrade agreements.

At a symposium on October 23 to commemorate 20years of Singapore’s free trade agreement (FTA) strategy, he said current traderules and policies may fail to meet all the needs of the digital economyenough. Therefore, Singapore needs to add new policies that better matchrequirements in reality.

He also affirmed the importance of FTAs to hiscountry amidst the world’s complex trade environment, adding that Singapore willcontinue making use of FTAs to enhance and diversify trade partnerships withother countries, thus creating new opportunities for its businesses in foreignmarkets.

Singapore has signed 24 FTAs with foreignpartners over the last 20 years. The value generated from these pacts oftenaccounts for over 90 percent of the country’s annual trade revenue./.
VNA
#digital economy #digital trade agreements #Singapore #diversify trade partnerships #complex trade environment #trade revenue #Vietnam News Agency #Vietnamplus Singapore
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