The Digital Economy Partnership Agreement (DEPA) is a trade agreement focused on fostering collaboration in the digital economy. It was signed in June 2020 by Chile, New Zealand, and Singapore. DEPA aims to establish common frameworks and guidelines that promote seamless digital trade, innovation, and cooperation among member countries.
Key features include:
- Data Governance: Ensures the free flow of data across borders while safeguarding privacy and security.
- Digital Trade Facilitation: Simplifies customs processes and regulations for cross-border digital transactions.
- Digital Inclusion: Promotes access to digital tools and opportunities for micro, small and medium enterprises (SMEs).
- Artificial Intelligence (AI) and Emerging Technologies: Encourages ethical AI use and cooperation on emerging technologies.
DEPA serves as a model for digital trade agreements and aims to create a more inclusive, connected, and secure digital economy.
Reference materials:
- Digital Economy Partnership Agreement
- Digital Economy Partnership Agreement Accession Process
- Protocol to the Digital Economy Partnership Agreement
Summary by DigitalTrade4EU