According to the “Nihon Keizai Shimbun” reported on Thursday (18th), the three member countries of the “Digital Economic Partnership Agreement” (DEPA), Singapore, Chile and New Zealand, announced on Thursday that they have started negotiations on China’s application to join. . If China is allowed to join, China’s influence in the field of digital trade will be stronger in the future.
DEPA was first proposed by Singapore in 2019, and its main goal is to establish ground rules for advanced fields such as artificial intelligence (AI) and big data (Big Data).
In June 2020, Singapore, Chile and New Zealand completed the signing of DEPA, South Korea also applied to join DEPA in October 2021, and China applied to join in November 2021. Currently, Singapore, Chile and New Zealand are negotiating with South Korea.
Singapore, Chile, New Zealand and Brunei are four countries, which are the founding countries of the Trans-Pacific Partnership (TPP), the predecessor of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and have successful experience to follow. Therefore, DEPA is likely to develop into the basic rules of digital trade in the Asia-Pacific region.
The market scale of e-commerce and digital economy is gradually expanding, and China also hopes to further enhance its presence in the Asia-Pacific region by joining DEPA.
Singapore’s Minister of Trade and Industry Gan Kim Yong said in a statement on Thursday that Singapore welcomes China’s application to join DEPA and is also pleased with the establishment of the relevant work ministry. In the future, under the leadership of Chile, Singapore, Chile and New Zealand will jointly review China’s domestic and foreign regulations.