In a digital push, Singapore and EU eye biz gains

Singapore and the European Union announced a new partnership in the digital sector, which both parties described as having "transformative potential" for the future of their economies.

The digital partnership will also help Singapore and the EU work together on making supply chains more resilient
The digital partnership will also help Singapore and the EU work together on making supply chains more resilient. Photo courtesy: Twitter/@leehsienloong

In a joint statement, Singapore Prime Minister Lee Hsien Loong and European Commission President Ursula von der Leyen said the partnership, to be formally signed and launched next year, would advance cooperation on "the full range of digital issues".

These include trade facilitation, trusted data flows and data innovation, digital trust, standards, digital skills for workers and the digital transformation of businesses and public services.

The digital partnership will also help Singapore and the EU work together on making supply chains more resilient and advancing new areas such as artificial intelligence, digital identities and 5G/6G.

As a first deliverable, a set of digital trade principles have been agreed on.

"These principles reflect our joint commitment to an open digital economy and provide a common framework to boost digital trade between us and globally," said the two leaders.

"We aim to build on these principles to enact a set of bilateral digital trade rules."

Forward-looking digital trade engagements between the EU and Singapore will complement and support ongoing World Trade Organization negotiations to put in place global rules on electronic commerce, they added.

"The digital partnership builds on long-standing cooperation between the EU and Singapore on trade, research and technology," said Mr Lee and Ms von der Leyen.

"At a time of turmoil and change, we are taking another major step to deepen our strategic partnership for the benefit of our citizens, consumers and businesses."

Author
CtoI News Desk
CtoI News Desk – CtoI

Singapore-headquartered online media company targeting Indian Diaspora across Singapore, US, UK, UAE and India. Connected to India covers developments around NRIs. Covers arts, political, sports, finance, entrepreneurship, business, movies, dramas, entertainment and other news for Indians living worldwide.

Comments
Poll

Which team do you think will win IPL 2023?

  • Chennai Super Kings
  • Royal Challengers Bangalore
  • Mumbai Indians
  • Gujarat Titans
  • Kolkata Knight Riders
  • Delhi Capitals
  • Sunrisers Hyderabad
  • Lucknow Super Giants
  • Royal Challengers Bangalore
  • Punjab Kings
Answer
Write your story

Contribute an Article

Learn more