The Digital Trade Agreement (DTA) between the European Union and Singapore has entered into force, according to an announcement by the European Commission. This is the first autonomous bilateral digital trade agreement concluded by the EU.
The Commission says the agreement establishes transparent and predictable rules to facilitate cross-border digital transactions, benefiting businesses and consumers on both sides.
The DTA includes provisions to protect consumers online, protect personal data and privacy, as well as measures against unsolicited commercial messages. At the same time, it provides for the facilitation of paperless trade, the recognition of the legal validity of electronic signatures, contracts and invoices, as well as the prohibition of the imposition of customs duties on electronic transmissions.
On the data side, the agreement establishes rules on the free flow of data, prohibiting unjustified local storage requirements and the mandatory transfer of software source code.
As noted, the DTA complements and deepens the 2019 EU-Singapore Free Trade Agreement. In 2024, total trade between the EU and Singapore amounted to €131 billion, of which €83 billion was related to services and €48 billion to goods, with most trade in services taking place digitally.
The European Commission recalls that the negotiations on the Digital Trade Agreement started on 20 July 2023, underlining the strategic importance of the agreement to strengthen the digital economy and the EU's international trade presence.
CNA
