Sunday, 19 May 2019 22:06

Chile, New Zealand and Singapore Bet on Digital Economy

Written by PL
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Wellington.- An official report published here this Sunday, that Chile, New Zealand and Singapore are betting on a digital economy through an agreement that has no precedent in the world.

 

The parties announced on Sunday the start of negotiations for the signing of an Association Agreement on the Digital Economy, the first of its kind.

The initiative was adopted at the Asia-Pacific Cooperation Forum (APEC) Trade Ministers' meeting, held in the Chilean city of Viña del Mar, the statement issued in Wellington insisted.

This idea began to take shape at the end of 2018 and arose from the common interest of the three countries in benefiting the smallest economies, with the aim of providing more opportunities to citizens, especially SMEs (small and medium enterprises).

The agreement will seek to achieve a friendly framework for ICT companies (technology and information technology).

In this way they will promote the export of products and services, through the regulation of fundamental pillars in terms of free data flows, non-discrimination to digital products, artificial intelligence, digital identity and privacy, among other matters.

The central objective is that the three countries become digital centers, through which it is clearer and faster to export, facilitating the platforms for the digital economy, said spokespersons.

In addition, negotiations are expected to strengthen what has been reached in the CPTPP (TPP 11), a free trade agreement that is under way in Chile and that includes modern rules for electronic commerce.

For the three countries, this new and innovative instrument will support the World Trade Organization's ongoing negotiations on e-commerce.

It will also serve as a model for future negotiations, whether bilateral, plurilateral or in the framework of fora.

Chile's Foreign Minister Roberto Ampuero, New Zealand's Trade Minister David Parker and Singapore's Trade and Industry Minister Chan Chun Sing signed the opening of the talks. (PL)

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