Friday, March 24, 2023

EU signs digital partnership with Singapore

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Belgium, (Brussels Morning Newspaper) The EU signed a digital partnership with Singapore, which will strengthen their cooperation in digital technology areas.

The Commission reminded in a statement released on Wednesday that EC President Ursula von der Leyen announced the move with Prime Minister of Singapore Lee Hsien Loong in December last year.

Thierry Breton, European Commissioner for Internal Market finalised the deal by signing the partnership agreement with Singapore’s Minister of Trade S. Iswaran, who also signed Digital Trade Principles with European Commissioner for Trade Valdis Dombrovskis.

The EC pointed out that the Digital Trade Principles agreement will ease the exchange of digital goods and services while protecting privacy.

The body noted that, in the signed deals, both sides have agreed to step up cooperation on data innovation and trusted data flows, production of semiconductors, digital transformation of public and private sectors, digital standards and trust, and digital skills for workers, among other.

Dombrovskis pointed out that the agreements “take our close trade ties with Singapore to the next level” and added “signing these Digital Trade Principles is a first deliverable of our new Digital Partnership and will facilitate reciprocal trade and e-commerce, a vital sector of our economies.”

Importance of cooperation

Breton stressed the importance of closer cooperation with partners and noted “when we join forces with our like-minded partners and act together, we can set the standards of tomorrow’s digital world and defend our common interests.”

He concluded that the EU and Singapore “will work on cutting-edge technologies such as Artificial Intelligence and semiconductors but also data flows and digital infrastructures, building on our dynamic relation.”

European Commissioner for Competition Margrethe Vestager noted “today is an important step in strengthening our cooperation on crucial digital areas with Singapore.”

“Together, we will promote our vision for an inclusive, sustainable and human-centric digital transformation, which will benefit our citizens and create opportunities for businesses,” she added.

The EC pointed out that new agreements signed with Singapore are in line with the bloc’s digital transition plans and present a significant step “in the implementation of the EU’s Indo-Pacific Strategy.”

The body concluded that signed agreements show “the EU and Singapore share the same commitment to an open, fair and competitive digital economy, without unjustified trade barriers.”

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