It may be that in the future, an aspect or provision of the DEPA will be of undue importance, in a way that cannot be foreseen today. For example, rules on non-discrimination of digital products (3.3) could be crucial for businesses, as the digital economy continues to expand into sectors that are not yet imaginable. In other words, the agreement is more relevant and urgent than ever, given the importance of the digital economy in the new post-COVID economic order and the efforts that many governments and businesses will make for digital transformation. While there is no single definition of digital trade, the Organisation for Economic Co-operation and Development (OECD) says (Link leaves this page) there is a growing consensus that it includes digital transactions of goods and services that can be delivered digitally or physically and involve consumers, businesses and governments. The Infocomm Media Development Authority (IMDA) is leading Singapore`s digital transformation with infocomm media. To do this, IMDA will develop a vibrant digital economy and a cosy digital society, fueled by an extraordinary ecosystem for Infocomm Media (ICM), through talent development, business capacity building and the enhancement of Singapore`s ICM infrastructure. IMDA also regulates the telecommunications and media sector to protect consumer interests while promoting a business-friendly environment, and improves Singapore`s data protection regime through the Personal Data Protection Commission. Meanwhile, Under Secretary of State for International Economic Relations Rodrigo Yáñez said digital trade will be the engine of the global economy in the coming decades and international economic relations will have to rise to the challenge. This will make it easier for businesses and consumers to exploit the benefits of digital trade, providing more opportunities for our citizens, especially SMEs. “This agreement aims to provide more opportunities for our entrepreneurs and support the existence of a non-discriminatory, open and global internet that acts as a catalyst for creativity and innovation,” he said. However, trade rules are struggling to keep pace with the very rapid development of these new business methods.
In recent years, New Zealand and a number of other countries in the Asia-Pacific region have attempted to establish certain rules focused primarily on e-commerce of goods through the Trans-Pacific Partnership Agreement (CPTPP) and a handful of previous trade agreements. However, the signing last week of a new (and rightly entirely virtual) agreement, the Digital Economy Partnership Agreement (DEPA), is helping to lay the foundations for a more “digital” trade policy in the future. And as if it were worth remembering, COVID-19 has clearly demonstrated the importance of better digital capabilities and connectivity for all types of businesses, both within and across borders. Although Latin America has made significant progress in developing its digital ecosystem in recent years, it remains in the central pack compared to other regions and stands at 49.92 points on a scale of 0 to 100 ahead of Africa (35.05) and Asia-Pacific (49.16), but behind Europe (71.06) and North America (80.85). However, in recent weeks, 1.7 million people in Latin America have become new digital consumers due to mobility restrictions caused by the COVID-19 emergency. It also implies obligations to exchange best practices for the promotion and development of new logistics technologies, such as.B. last mile deliveries and the use of drones and lockers for delivery and pick-up of purchases. The digital products approach sticks to the obligations set out in previous agreements on the moratorium on the application of tariffs on e-commerce. It also adds a cryptography standard that prohibits countries from requesting keys or access codes when importing encrypted products. . .