Asean agreement on e-commerce paves way for digital economy
Published on: Wednesday, November 14, 2018
SINGAPORE: The Asean agreement on e-commerce paves the way for the digital economy to further flourish in the region, while advancing trade rules and building digital connectivity within it.The Asean Internet economy is estimated to reach US$200 billion by 2025."Asean Member States (AMS) commit to maintain, or adopt as soon as practicable, laws and regulations governing electronic transactions taking into account applicable international conventions or model laws relating to e-Commerce," Singapore's Ministry of Trade and Industry said in a statement.
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The agreement signed on Monday was previously endorsed by the Asean Economic Ministers at the 50th Asean Economic Ministers Meeting on Aug 29 this year.Asean now has 330 million Internet users, the third largest number of such users globally. On average, they spend 3.6 hours on the mobile Internet daily – more than anyone else in the world.Stay up-to-date by following Daily Express’s Telegram channel.
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