Shulou(Shulou.com)11/24 Report--

On November 21, according to foreign media reports, the Ministry of Industry of South Korea and the Ministry of Commerce and Industry of Singapore signed the Digital Partnership Agreement in Singapore on the 21st, aimed at promoting digital trade and industrial cooperation.

It is reported that the signing ceremony was held in Singapore earlier in the day, the two countries started negotiations in June 2020, and concluded the agreement at the end of last year.

South Korea said that the "Digital Partnership Agreement" is the first digital trade agreement signed by South Korea. According to the Ministry of Industry, the agreement aims to create faster and more secure digital transactions, promote digital trade in the digital field, including digital content and various online services, and cover various digital economic and trade norms and cooperation bases. priorities include abolishing tariffs on digital products transmitted through electronic channels, ensuring the free transfer of data such as personal information between the two countries' databases, and preventing the establishment of technical barriers to trade.

Singapore has leading e-commerce platforms such as Lazada and Shopee, and the agreement is expected to promote the export of South Korean products to ASEAN countries through e-commerce platforms.

In addition, the two sides also agreed to hold the first Digital economy Dialogue early next year.

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