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ASEAN to start negotiations on digital economy pact this third quarter
The negotiation on the digital economy pact will be launched in the third quarter, much earlier than the previous plan of 2025.
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Indonesia's six unicorns shown on a screen on Tuesday, Aug. 3, 2021. The six are ride-hailing company Gojek, e-wallet OVO, online travel agency Traveloka, logistics company J&T Express and e-commerce platforms Tokopedia and Bukalapak. (JP/Norman Harsono)
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SEAN countries have agreed to accelerate the start of ASEAN Digital Economy Framework Agreement (DEFA) negotiations in the third quarter 2023, according to Coordinating Economic Minister Airlangga Hartarto.
Initially, ASEAN countries planned to launch negotiations on DEFA in 2025 but the recent development would mean the process begins two years earlier.
“[Negotiations on] ASEAN DEFA are targeted to be launched this September 2023, and the first round of the discussion will be completed this year,” Airlangga said in a press conference after attending the 22nd ASEAN Economic Community Council (AECC) meeting on Sunday.
ASEAN economic growth is estimated at 4.7 percent in 2023 and is forecast to grow to 5 percent in 2024, making ASEAN “a bright spot on the dark horizon”.
Meanwhile, the region’s digital economy is projected to grow to US$330 billion as measured in gross merchandise value in 2025, from $194 billion last year.
Read also: Govt, House to ratify ASEAN e-commerce agreement
The negotiations mark a step forward after the region concluded the ASEAN agreement on electronic commerce in 2018, which comprises only some parts of the digital economy
