NZ, Chile, S'pore to assess Canada's request to join digital trade pact

New Zealand, Chile and Singapore, the three members of the Digital Economy Partnership Agreement (Depa), will start a formal process to assess Canada's request to join the digital trade pact.

This comes after Canada made a formal application to join the pact on May 9.

Depa, which came into force in December 2020, is a pioneering agreement that establishes new approaches and collaborations in digital trade issues among the signatory countries.

In a joint statement yesterday, Singapore's Ministry of Trade and Industry, Ministry of Communications and Information, and Infocomm Media Development Authority said a working group chaired by New Zealand will examine Canada's request.

The working group, which comprises government representatives from the member countries, will discuss Canada's ability to comply with the standards and commitments of the pact, and submit a report to the Depa joint committee on the proposed terms and conditions of Canada's accession to the partnership.

Aspiring members will be required to demonstrate their efforts to date, and the changes that will need to be made to their domestic laws and regulations - if any - to meet the obligations under the agreement.

Singapore's Trade and Industry Minister Gan Kim Yong said the country welcomes Canada's application to join Depa and looks forward to having more economies participating.

"With countries recovering from Covid-19, which has accelerated digital transformation, more businesses will benefit from the interoperability across systems that Depa fosters, as well as the benchmark it provides for international trade rules," he said.

"These will help support businesses with their digitalisation and internationalisation efforts."

Earlier this year, Prime Minister Lee Hsien Loong welcomed Canada's application to join Depa in a phone call with Canadian Prime Minister Justin Trudeau.

China and South Korea have also requested to join the pact. Chile is chairing the working group assessing China's application, while Singapore is leading the discussions over South Korea's application.

Depa is aimed at facilitating end-to-end digital trade, enabling trusted data flows, and building trust in digital systems. It promotes cooperation between companies in the fintech sector, develops fintech solutions for businesses, and adopts or maintains laws for online consumer protection.