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IPEF agreement is the right trade deal at the right time
Despite expanding digital trade in the Indo-Pacific region, there is no regionwide mechanism for facilitating cross-border data flows or ensuring privacy – the Indo-Pacific Economic Framework can help fill the gap and give a boost to growth
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Singapore has spearheaded a number of digital initiatives in recent years, but the efforts have remained exclusive, with the benefits limited to only a few countries.
PHOTO: ST FILE
Robert Holleyman
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Negotiations for the Indo-Pacific Economic Framework for Prosperity agreement, known colloquially as the IPEF, kicked off during US President Joe Biden's visit to Japan on May 23.
There were 13 initial negotiating parties: Singapore, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Brunei, India, Japan, South Korea, New Zealand, Australia and the United States.
