The partnership will also explore the use of technologies such as Artificial Intelligence (AI)

UK and Singapore are negotiating a digital economy agreement – UK-Singapore Digital Economy Agreement (UKSDEA).

According to a statement by the Ministry of Trade and Industry, Ministry of Communications and Information and the Infocomm Media Development Authority, the new partnership will look to facilitate digital trade and open up new opportunities do enable business digitally between Singapore and the UK. This will include establishing forward-looking rules to enable trusted cross-border data flows, prohibit data localisation, and ensure high standards in data protection.

With the thriving innovation ecosystems in the UK and Singapore, the partnership will also explore the use of technologies such as AI.

Minister S Iswaran said the digital economy is a catalyst for economic growth and the transformation of enterprises. It is a bright spot that has remained resilient despite the challenges of the COVID-19 pandemic. I am pleased that Singapore is enhancing our network of Digital Economy Agreements (DEAs) with a like-minded and digitally progressive partner like the UK. The UKSDEA will build on the momentum of the UK-Singapore Free Trade Agreement and promote trusted, robust and connected digital markets for the benefit of our people and businesses.

It is the first DEA between an Asian and a European country which will enable businesses to use Singapore and the UK as digital gateways to access new opportunities in Asia and Europe by enhancing region-to-region digital connectivity.

Under the agreement, we aim to explore cooperation to connect our technology ecosystems, and open up opportunities for startups, read the statement.

Last year, former minister for Trade and Industry Chan Chun Sing and UK Secretary of State for International Trade Elizabeth Truss signed the UK Singapore Free Trade Agreement to start scoping the modules of a UK-Singapore Digital Economy Agreement.