The private sector is one of the key stakeholders of the ASEAN Digital Economy Framework Agreement (DEFA). DEFA is the first regionwide agreement that aims to create a more predictable, inclusive, and competitive digital economy in the region.
The study on ASEAN DEFA, commissioned by the ASEAN Economic Community (AEC) Pillar, identified nine core elements to be included in the agreement. These include: (1) Digital Trade, (2) Cross- border E-Commerce, (3) Payment and E-Invoicing, (4) Digital ID and Authentication, (5) Cross Border Data Flow and Data Protection, (6) Online Safety and Cybersecurity, (7) Cooperation on Emerging Topics, (8) Talent Mobility and Cooperation, (9) Competition Policy.
The provisions under these issues are expected to create programmes and incentives that businesses could capitalise on, and regulations that may impact existing business operations or models for tech companies or digitally enabled businesses.
Recognising the importance of involving the business community in the formulation of ASEAN DEFA, the ASEAN Secretariat
with the support of Australia for ASEAN Futures – Economic and Connectivity (Aus4ASEAN ECON) and Tech for Good Institute organised the 10th AEC Dialogue to unpack the ASEAN DEFA key policy recommendations and gather business inputs to the agreement. The highlights of the business aspirations shared during the dialogue are featured in the succeeding part of this bulletin.