BANDAR SERI BEGAWAN, BRUNEI – August 30, 2025 (17:01:48 ICT) – A landmark digital trade agreement poised to unlock $2 trillion in economic value for the Association of Southeast Asian Nations (ASEAN) is gaining momentum under Thai leadership, officials announced today. The Digital economy Framework Agreement (DEFA) aims to streamline cross-border digital commerce, enhance data security, and foster innovation across the region, with a target signing date in 2026.
The DEFA initiative is especially crucial for small and medium-sized enterprises (SMEs) and startups seeking to expand their reach into international markets. By reducing barriers to digital trade – including high transaction costs and complex regulations – the agreement promises to level the playing field and accelerate economic growth throughout ASEAN. The framework addresses key areas such as seamless online services, affordable digital payments, robust data protection, and the progress of essential digital skills.
According to Mr. Chantawit, the negotiations are being spearheaded by Thailand, building on the work of previous chair Miss Phli Prae Chumtrum, Director of the Bureau of Trade, Department of International Trade Negotiations. Thailand has prioritized close collaboration with member countries to achieve consensus on critical issues, ensuring the agreement benefits all parties involved. “Believe that the negotiations under the leadership of Thailand will be able to achieve the negotiation results in time,” Chantawit stated.
The DEFA agreement is designed to facilitate trade by establishing standardized rules for digital transactions, protecting personal data, and bolstering cybersecurity measures. It also seeks to promote the adoption of emerging technologies like artificial Intelligence (AI), Fintech, and facts Innovation, creating a dynamic environment for digital businesses.
DEFA is a central component of the Bandar Seri Begawan Roadmap (BSBR), which guides ASEAN’s transition to a digital economy in alignment with the ASEAN Economic Community Post-2025 Vision.it also supports the broader economic recovery initiatives of ASEAN, beginning with the AISSEA 2022. Officials aim to showcase meaningful progress by October 2025,paving the way for the official signing of the agreement in 2026.
“It is expected that if DEFA agreement is effective Will help push the ASEAN digital trade value of $2 trillion by 2030,” Chantawit added, emphasizing the potential for widespread economic benefits, particularly for smaller operators aiming to expand internationally.